Political parties can now receive anonymous donation of just Rs 2,000

This is a major reform in the system that can bring in transparency in funding of parties and thus address the root cause of corruption in India.

GN Bureau | February 1, 2017


#reform   #Rs 2000   #transparency   #anonymous donations   #Political parties  


  The political parties can receive donation of only Rs 2000 from anonymous sources. This was announced by finance minister Arun Jaitley in his budget speech.

This constitutes a major reform in the system that can bring in transparency in funding of parties and thus address the root cause of corruption in India.
 
So far, political parties were not required to disclose the source of their funds to the tune of Rs 20,000, while filing their annual returns. Some of the cash rich parties like the Bahujan Samaj Party (BSP) of Mayawati, in fact, had claimed that it had nothing to declare since all its funding was from small donors who have paid Rs 20,000 each.
 
Members welcomed Jaitley’s announcement as he said this step was in line with the recommendation of the Election Commission for cleansing the electoral system.
 
Besides, he said, the Reserve Bank of India will also issue electoral bonds which the donors can purchase and give to their favourite political party without getting identified. The political parties can redeem these bonds within a stipulated time. He said, for this, the RBI Act would have to be amended.
 
Jaitley also said the system for digital donations will be set up soon.
 

Comments

 

Other News

Nitish Kumar is back as Bihar CM – yet again

JD (U) leader Nitish Kumar was sworn-in as the chief minister of Bihar for the sixth time on Thursday after again striking an alliance with the BJP, barely hours after tendering his resignation as he parted ways with the RJD. And all this happened in less than 24 hours.   BJP

No clear distinction between professionals and amateurs in classical dance: Malavika Sarukkai

Malavika Sarrukkai is a Bharatanatyam dancer from Tamil Nadu. She began learning the dance form at the age of seven and made her stage debut at the age of 12. She was awarded the Sangeet Natak Akademi Award in 2002 and Padma Shri in 2003. Her work features in a government-commissioned documentary calle

Has Nitish played politics of opportunism?

Has Nitish played politics of opportunism?

Nitish Kumar quits as Bihar CM

Nitish Kumar resigned as chief minister of Bihar on Wednesday, just hours after RJD chief Lalu Prasad ruled out his son and deputy chief minister Tejashwi Yadav putting in his papers following a case being registered by the CBI. The JD(U) and RJD alliance had been under considerable strain o

Will the needy get homes under PMAY?

 The Pradhan Mantri Awas Yojana (PMAY), introduced in June 2015, aims at providing every family with “a pucca house with water connection, toilet facilities, 24x7 electricity supply” by the time the nation completes 75 years of its Independence in 2022.   The Yoj

No longer a walk in the park for bureaucrats

Continuing as a bureaucrat just got a lot tougher with the government weeding out the incompetent and taking action against 381 civil services officers, including 24 who were from the Indian Administrative Service.   The Narendra Modi government’s action against civil s





Video

Hurriyat leaders funding terrorists- NIA

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter