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

Beyond participation: Why Indian women need economic justice

India pronounced its commitment to gender equality, decent work and inclusive participation in economic, political and social spheres for women. While the rhetoric of progress fills the air, the lived reality for millions of women in India paints a starkly different picture. Despite carrying a heavy worklo

NSE ranks 4th globally in IPO fundraising

The National Stock Exchange of India (NSE) has emerged as the fourth largest exchange in the world in terms of IPO fundraising during the first half of calendar year 2025 (H1CY25), according to data from S&P Global Market Intelligence. Between January and June 2025, the NSE raised $5.51

On World Youth Skills Day, let’s ask: What will it take to retain Gen Z?

On World Youth Skills Day, observed every year on July 15, we’re reminded that the future of any economy depends on how well it invests in its youth. In India, where over half the population is under 30, the question of youth skills is not just about employment, it’s about meaning, wellbeing, a

Modi’s Ghana, Namibia visit a transformative chapter in India-Africa ties

Prime minister Narendra Modi last week completed a visit to five countries of Global South: Ghana, Trinidad & Tobago, Argentina, Brazil and Namibia. The objective was to reignite old existing partnerships and to project India’s leadership and influence in the Global South community. 

MoEFCC and CAQM launch ‘The Breath of Change’

To tackle air pollution in Delhi-NCR through public participation and creative engagement, the Ministry of Environment, Forest and Climate Change (MoEFCC) and the Commission for Air Quality Management (CAQM) have jointly launched a strategic communication campaign titled The Breath of Change.

India well on way to becoming a global IP powerhouse

Intellectual Property (IP) has evolved into a critical component of innovation and global competitiveness in India’s economy. As businesses pivot toward intangible assets like data, algorithms and branding, IP protection is no longer a matter of formality—it is a strategic imperative. The last

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter