Electoral bonds

MIRED in controversy since its inception, the electoral bond scheme for political funding has been annulled by the Supreme Court. A five-judge Constitution Bench headed by Chief Justice DY Chandrachud said the scheme was violative of the right to freedom of speech and expression under Article 19(1)(a) of Constitution, adding that the fundamental right to privacy also included the citizens’ right to ‘political privacy and affiliation’. The court has directed the State Bank of India (SBI) to disclose the details of each electoral bond encashed by various parties over the years.

The verdict is a big blow to the BJP-led NDA in the run-up to the Lok Sabha elections. Notifying the scheme in January 2018, the Modi government had touted it as a ‘transparent’ alternative to cash donations made to political outfits. Then Finance Minister Arun Jaitley had exuded confidence that the electoral bond scheme would considerably cleanse the political funding system. However, the initiative ran into rough weather over allegations of ‘selective confidentiality’ and denial of a level playing field.

The government’s insistence on ensuring the anonymity of the donors and keeping the citizens in the dark struck at the heart of the scheme, whose avowed main objective was transparency. Paradoxically, the government itself was in a position to access the donors’ details by demanding their data from the SBI. The Opposition had every reason to tear into the scheme as the BJP grabbed the lion’s share of the bonds, even as the Election Commission of India (ECI) adopted an evasive approach. Last year, the apex court had rapped the ECI for not maintaining data on funding received through electoral bonds despite the interim order it had passed in April 2019. It is hoped that the poll panel and the SBI will finally lift the dubious veil of secrecy and make the details public.

#Justice DY Chandrachud #Supreme Court