{"id":165260,"date":"2022-01-29T21:36:57","date_gmt":"2022-01-29T16:06:57","guid":{"rendered":"https:\/\/blog.forumias.com\/?page_id=165260"},"modified":"2022-01-31T20:05:42","modified_gmt":"2022-01-31T14:35:42","slug":"to-what-extent-in-your-opinion-electoral-bond-scheme-has-been-able-to-ensure-the-trustworthiness-of-elections-in-the-country","status":"publish","type":"page","link":"https:\/\/forumias.com\/blog\/to-what-extent-in-your-opinion-electoral-bond-scheme-has-been-able-to-ensure-the-trustworthiness-of-elections-in-the-country\/","title":{"rendered":"[Answered] To what extent, in your opinion, electoral bond scheme has been able to ensure the trustworthiness of elections in the country?"},"content":{"rendered":"<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Introduction:<\/strong> Write the features of the electoral bond scheme<br \/>\n<strong>Body:<\/strong> Write the intended benefits and issues associated with the scheme<br \/>\n<strong>Conclusion:<\/strong> write suggestion in brief to tackle issues<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span data-contrast=\"none\">Electoral bond is a <\/span><b><span data-contrast=\"none\">financial instrument<\/span><\/b> <b><span data-contrast=\"none\">used to make donations<\/span><\/b><span data-contrast=\"none\"> to political parties. The electoral bond scheme was<\/span><b><span data-contrast=\"none\"> launched <\/span><\/b><span data-contrast=\"none\">in the year<\/span><b><span data-contrast=\"none\"> 2018<\/span><\/b><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Any individual who is Indian citizen, corporate or other institution, based in India, can purchase electoral bonds. There is no cap on the maximum amount that can be donated to a party. <\/span><b><span data-contrast=\"none\">SBI is authorized to issue and en-cash<\/span><\/b><span data-contrast=\"none\"> these bonds.\u00a0<\/span><b><span data-contrast=\"none\">Only, registered political party,<\/span><\/b><span data-contrast=\"none\"> which has secured <\/span><b><span data-contrast=\"none\">at least 1% of votes<\/span><\/b><span data-contrast=\"none\"> polled in the previous election, are eligible under the scheme. <\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Intended benefits of the scheme:<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Countering the menace of black money<\/span><\/b><span data-contrast=\"none\"> in electoral Funding, as all transactions are done through the banking system and KYC norms are followed.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">Anonymity ensures <\/span><b><span data-contrast=\"none\">protection of donor from any adverse actions<\/span><\/b><span data-contrast=\"none\"> from other political parties.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"none\">Opens <\/span><b><span data-contrast=\"none\">new avenues for funding of political parties<\/span><\/b><span data-contrast=\"none\">, which are essential for functioning of democracy.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Better than cash<\/span><\/b><span data-contrast=\"none\"> donations as it is more transparent medium of donation.\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">However, scheme has not been successful in ensuring transparency and building trust of the vote in the election process of India. <\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Issues associated with the scheme<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Anonymity: Neither the donor nor the political party is obligated to disclose information <\/span><\/b><span data-contrast=\"none\">regarding donations under the scheme, which creates opacity in the system. The <\/span><b><span data-contrast=\"none\">voter lacks information to make an informed choice<\/span><\/b><span data-contrast=\"none\"> in elections. <\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Lack of transparency:<\/span><\/b><span data-contrast=\"none\"> Election commission has raised concerns over the <\/span><b><span data-contrast=\"none\">lack of transparency <\/span><\/b><span data-contrast=\"none\">in the funding of <\/span><span data-contrast=\"none\">political<\/span><span data-contrast=\"none\"> parties.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Asymmetry in access to information<\/span><\/b><span data-contrast=\"none\"> as the political party in power can get information from SBI regarding donations.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Crony capitalism: Potential for unholy Corporate &#8211; political nexus<\/span><\/b><span data-contrast=\"none\">, as cap on corporate donation<\/span> <span data-contrast=\"none\">of 7.5% on of net profit in preceding 3 years has been removed.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Use of black money:<\/span><\/b><span data-contrast=\"none\"> Creates <\/span><b><span data-contrast=\"none\">potential of black money in political funding through shell companie<\/span><\/b><span data-contrast=\"none\">s.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">With the removal of cap on foreign funding, it creates potential for <\/span><b><span data-contrast=\"none\">foreign corporates to influence Indian politics<\/span><\/b><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\u2022\" data-font=\"Symbol\" data-listid=\"3\" aria-setsize=\"-1\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"none\">RBI raised concerns over creation of a <\/span><b><span data-contrast=\"none\">parallel monetary system<\/span><\/b><span data-contrast=\"none\">, as the bonds have features of currency notes.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">Electoral bonds have benefits over cash in cleaning up electoral funding but there several issues that needs to be addressed to ensure free and fair election process that is a basic feature of a vibrant and functioning democracy,\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: Write the features of the electoral bond scheme Body: Write the intended benefits and issues associated with the scheme Conclusion: write suggestion in brief to tackle issues Electoral bond is a financial instrument used to make donations to political parties. The electoral bond scheme was launched in the year 2018.\u00a0 Any individual who is&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/to-what-extent-in-your-opinion-electoral-bond-scheme-has-been-able-to-ensure-the-trustworthiness-of-elections-in-the-country\/\">Continue reading <span class=\"screen-reader-text\">[Answered] To what extent, in your opinion, electoral bond scheme has been able to ensure the trustworthiness of elections in the country?<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-165260","page","type-page","status-publish","hentry","entry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/165260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=165260"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/165260\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=165260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}