The electoral bond scheme is a new step towards the political fund reforms that have been discussed recently in the Supreme Court. When it declared the scheme unconstitutional, the court said it interfered with the right of citizens to information. The court emphasizes the transparency of elections and the necessity of accountability in the contribution of money in the political parties.
The introduced scheme in 2018 was aimed at slowing down the black money in politics but has also allowed receiving unlimited amounts of donations, including those of individuals and corporations without disclosing the donor identities. This level of secrecy was questioned as a potential source of corruption, uneven benefits to political parties in government, and limited information known by citizens about political funding.
This judgment confirms the fact that free and fair elections require transparency. The court action in overturning the scheme strengthened the right of voters to be informed about the sources of funding that parties receive so that they can make an informed choice about the candidates and their circuits of influence.
Another point which has been touched on in the judgment was on uncontrolled corporate as well as individual donations. The previous system had accepted big donations without question, something that was proving to be policy favoritism. More transparency is proposed, which means that political contributions become accountable to the people and can diminish the irrational power of money in elections.
This ruling will guide the government to introduce a more open system of political financing. The future changes should maintain a balance between the interests of donor privacy and citizen information rights. A clear funding system plays an important role in enhancing democracy and developing trust between the electorate and the political institutions.
Conclusion:
The judgement by the Supreme Court on electoral bonds is a triumphant step towards Indian democracy. The court denied secrecy in political donations, protecting the right to information of the citizens and enhancing accountability. This ruling opens up a clear path that can be seen as transparent political funding which will bring fairness into elections as well as the restoration of the confidence the citizens have in the democratic process.
