A Single Vote Can Change the Political Scenario of the Country.
In quite a shocking unveiling, some of India’s corporate rulers have been outed as key political funding contributors to parties over the past 5 years, through a mechanism that has now been terminated and used to be opaque. The scheme of Electoral Bonds, launched into circulation in 2017, permitted corporations and people to donate full sums anonymously and conceal their identities away from public supervision.
Yet, as the Election Commission of India released the donor list on the instruction of the Supreme Court just before the next national polls, the conundrum came to light. The data thus unlocked a Who’s Who of the Indian business class, featuring standouts such as Vedanta Ltd, Bharti Airtel, RPSG Group, and Essel Mining as the most generous philanthropists.
The Electoral Bonds Act which allowed for donations to remain anonymous through Electoral Bonds being issued by the State Bank of India was heavily criticized by opposition parties and civil society groups. It was their main contention that it eroded the public’s right to know the sources of political funding, and this is a key component of political transparency in democracy.
In the end, the Supreme Court threw it out three weeks ago, saying it was “unconstitutional” and a dangerous thing for the whole process of elections.
At the same time, Bharatiya Janata Party (BJP), the party led by Prime Minister Narendra Modi was the fundraiser of the majority of these bonds, donating as much as 55%, which is equivalent to 120 billion rupees ($1.45 billion) in total, from January 2018 to January 2024
Removing the Electoral Bonds system will likely prove a significant hurdle for major political parties including the BJP, who are all gearing up for the crucial national elections scheduled by May. The anonymous veil is being pulled and the limelight is now on the politics-corporate intricate network, which had been previously hidden in shadow for years.
The race would be exceptionally tough as the nation prepares to endure the occasionally vicious electoral battle.
