Electoral Bonds Scheme

In a landmark decision, the Supreme Court of India has struck down the controversial Electoral Bonds Scheme, citing it as "unconstitutional and manifestly arbitrary." This decision marks a significant victory for transparency and accountability in the country's electoral process.

Introduction: Understanding Electoral Bonds

The Electoral Bonds Scheme, introduced by the Government of India in January 2018, aimed to reform political funding by providing a mechanism for individuals and corporations to donate to political parties anonymously. Under this scheme, citizens and entities could purchase electoral bonds from specified branches of the State Bank of India, which could then be used for making donations to registered political parties.

The Verdict: Upholding Democratic Principles

In its unanimous judgment, the Supreme Court ruled that the scheme, along with preceding legal amendments, violated the voters' right to information about political funding guaranteed under Article 19(1)(a) of the Constitution. The court emphasized that the absolute anonymity of political donors facilitated under the scheme promoted corruption and undermined the principles of transparency and fairness in elections.

The Impact: Corporate Influence vs. Citizens' Rights

The judgment highlighted the imbalance created by allowing unlimited contributions from corporations while concealing the relatively smaller donations from individual citizens. It underscored the deep nexus between money and politics, noting that such contributions often came with the expectation of favorable treatment, compromising the democratic ideals of equal participation and representation.

Ensuring Equality in Political Engagement

Chief Justice Chandrachud emphasized the importance of maintaining economic equality in the electoral process. He noted that the scheme and the accompanying legal amendments favored corporations with financial power, giving them undue influence over political decisions and marginalizing the voices of ordinary citizens. This, he argued, was contrary to the principle of "one person, one vote" fundamental to a democratic society.

Balancing Privacy and Transparency

While acknowledging the right to privacy, the court stressed the need to strike a balance between informational privacy and the voters' right to know. It distinguished between contributions made by individuals based on political beliefs and those made by corporations seeking favors, asserting that transparency in political funding is essential for maintaining the integrity of the democratic process.

Conclusion: A Step Towards Transparent Governance

The Supreme Court's decision to strike down the Electoral Bonds Scheme underscores the importance of transparency and accountability in political funding. By upholding the voters' right to information, the court has reaffirmed the principles of democracy and ensured that the electoral process remains fair and free from undue influence. Moving forward, it is imperative for policymakers to devise mechanisms that promote transparency and equitable participation, safeguarding the essence of democracy in India.

In essence, the verdict serves as a reminder that democracy thrives on transparency, accountability, and the active participation of citizens. It is a testament to the resilience of India's democratic institutions and a step towards a more transparent and inclusive political landscape.