The Aryavarth Express
Agency(New Delhi): In a recent statement, Union Minister Nitin Gadkari highlighted the crucial role of financial support for political parties, in light of the Supreme Court’s decision to deem the electoral bonds scheme unconstitutional. Introduced in 2017, this scheme was developed with the aim of providing a transparent financial mechanism for political parties, although it has recently been struck down ahead of the Lok Sabha polls scheduled for April-May.
Speaking at a media event in GIFT City, near Gandhinagar, Gadkari, a prominent figure in the Bharatiya Janata Party (BJP), asserted the challenge of sustaining a political party without adequate funding. He reminisced about the discussions that took place under the then Union Finance Minister, Arun Jaitley, emphasizing that, unlike some countries where political entities receive government funding, India lacks such a provision, leading to the adoption of the electoral bonds scheme as a means to ensure party financing.
Gadkari pointed out that the primary goal of the electoral bonds was to facilitate direct funding to political parties while keeping the donors’ identities confidential to prevent potential issues arising from changes in political power. He drew parallels between the financial needs of media houses for events and those of political parties for their operational and electoral activities, underscoring the intention of introducing electoral bonds as a step towards transparency.
The former BJP president also touched upon the Supreme Court’s recent judgment, which invalidated the scheme citing it as a breach of constitutional rights to freedom of speech and expression, and the right to information. Following this ruling, the State Bank of India (SBI) has disclosed various data related to the electoral bonds, detailing the funds received by political parties through this scheme, to the Election Commission.
Gadkari concluded by advocating for a collective effort among all political parties to deliberate on future directions, should the Supreme Court provide further guidelines. He stressed the importance of finding a transparent financing mechanism that supports the essence of value-based democracy and the practical necessities of political campaigning in India.