Reducing anonymous political donations a step forward: ASSOCHAM

No industrial house would like to be identified, whether it donated to one political party or the other, it says

GN Bureau | February 8, 2017


#Political Parties   #Political funding   #donations   #Assocham   #BJP   #Election Commission  
Representational illustration
Representational illustration

The fine print of the electoral bond scheme for donations to the political parties by businesses and wealthy individuals should aim at maximising clean-up of the system and transparency in political funding, said India’s largest and oldest business body.

“Reducing the political anonymous donations limit to Rs 2,000 from Rs 20,000 per individual may not be fool-proof but is certainly a step forward. Along with this the other big move by the finance minister Arun Jaitley to bring in the electoral bonds is an out of box idea.

“While there is a popular pressure for full transparency and disclosure of names of both the donors and the receivers of the political funds, there is also a merit in the government contention about protecting the identity of the donors as their identification could lead to bigger problems,”  ASSOCHAM Secretary General D S Rawat said.

Read: Donations to BJP far more than to other parties: ADR

Rawat said no industrial house would like to be identified, whether it donated to one political party or the other. "This way, business houses could be trapped in political rivalry".  

ASSOCHAM said the fine print of the electoral bonds scheme should be worked in a manner to make it a credible tool of transparency in the election funding.

Alongside, the “idea of state funding of elections should also be considered seriously….the industry which is committed to work for strengthening the Indian democracy would be happy to work with the Election Commission, government, political parties and the civil society to find a common solution to reduce the money power in the electoral process so that well-meaning people who do not have financial resources can also come forward and make a qualitative changes in the Indian policy”, the chamber said.

It said prime minister Narendra Modi’s suggestion of holding simultaneous elections for both the Lok Sabha and the state assemblies should also be considered seriously by all the political parties.

“Besides, exerting a lot of pressure on the administrative machinery of security forces, bureaucracy, teachers, frequent elections in some state or the other lead to enforcing Election Commission Code of Conduct, delaying the developmental schemes. Besides, it also leads to populist competitive politics that may not always be growth oriented. Some of the schemes may yield immediate political dividend, but could be detrimental for long term gains”.

Read: Case for synchronising election cycles

Comments

 

Other News

ONGC acquires 51.11% stake in HPCL

In its bid to create an oil major to match the performance of global and domestic oil and gas players, Oil and Natural Gas Corporation Ltd (ONGC) board has approved the acquisition of entire 51.11 percent shareholding of the government in Hindustan Petroleum Corporation Ltd (HPCL) with a total acqu

Foundation of mine counters measure vessels command laid at Goa Shipyard

Goa chief minister Manohar Parrikar recently laid the foundation stone of the Rs 120 crore- MCMV (mine counters measure vessels) Command, Control & Design Office at Goa Shipyard Ltd, Vasco in Goa. The defence ministry has entrusted the GSL for series construction of sophisticated and hig

Sri Lankan defence secy reviews patrol vessel construction at GSL

A high level Sri Lankan defence delegation headed by secretary of defence, Kapila Waidyaratane PC recently visited Goa Shipyard Ltd. The delegation held discussions with GSL CMD, Rear Admiral (retired) Shekhar Mital. The defence delegation was shown the ongoing shipbuilding activities includ

Are our authorities callous when it comes to ensuring safety of people?

Are our authorities callous when it comes to ensuring safety of people?

Unto the first few

Our constitution promises equality of status and opportunity to all citizens but statistical data suggests that inequalities in wealth and income have increased since independence and are now on an uncontrolled upward spiral. Recently, Thomas Piketty and Lucas Chancel in their aptly titled s

NTPC seeks protection for Gadarwara project

NTPC has sought the help of Madhya Pradesh government for the safety of Gadarwara power project site and the workers who have stopped the work on the site since December 22. It has appealed to the local people to support the project of national importance. Half of the electricity generated

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter