{"id":30522,"date":"2018-10-26T16:33:48","date_gmt":"2018-10-26T11:03:48","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=30522"},"modified":"2018-10-26T16:33:48","modified_gmt":"2018-10-26T11:03:48","slug":"lok-sabha-passes-bill-to-exempt-political-parties-from-scrutiny-on-foreign-funds-without-debate","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/lok-sabha-passes-bill-to-exempt-political-parties-from-scrutiny-on-foreign-funds-without-debate\/","title":{"rendered":"Lok Sabha passes Bill to exempt political parties from scrutiny on foreign funds, without debate"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/news\/national\/lok-sabha-passes-bill-to-exempt-political-parties-from-scrutiny-on-foreign-funds-without-debate\/article23285764.ece\"><strong>Lok Sabha passes Bill to exempt political parties from scrutiny on foreign funds, without debate<\/strong><\/a><\/p>\n<p><strong>What has happened?<\/strong><\/p>\n<p>The Lok Sabha, passed without a debate a bill that will exempt political parties from scrutiny of funds they have received from abroad since 1976<\/p>\n<p><strong>Background: amendments done to the Finance Bill 2018<\/strong><\/p>\n<ul>\n<li>Amendment to the Foreign Contribution (Regulation) Act, 2010 that bans overseas corporations from funding political parties<\/li>\n<li>Through Finance Bill 2016 passed earlier, the government had amended the FCRA to make it easier for parties to accept foreign funds<\/li>\n<\/ul>\n<p><strong>Which act bars political parties from accepting foreign funds?<\/strong><\/p>\n<p><strong>Representation of People\u2019s Act: <\/strong>It lays down the rules for elections &amp;bars political parties from accepting foreign funds<\/p>\n<p><strong>Effect of the amendment<\/strong><\/p>\n<p>The retrospective amendment will help BJP and Congress escape the fallout of a\u00a02014 Delhi High Court judgement\u00a0that held both guilty of violating the FCRA.<\/p>\n<p><strong>FCRA<\/strong><\/p>\n<ul>\n<li>The FCRA was passed in 1976.<\/li>\n<li>It defined a company \u2014 Indian or foreign \u2014 registered abroad or with subsidiaries abroad as a foreign firm<\/li>\n<li>It was later repealed and replaced with the FCRA, 2010.<\/li>\n<\/ul>\n<p><strong>Definition of a foreign company changedin 2016<\/strong><\/p>\n<ul>\n<li>The BJP government, through the Finance Act, 2016, had also changed the definition of a foreign company by saying a firm with less than 50% of share capital held by a foreign entity would no longer be a foreign source any more.<\/li>\n<li>This amendment also came into effect retrospectively from September 2010.<\/li>\n<\/ul>\n<p><strong>Fact<\/strong><\/p>\n<p>This is only the third time since 2000 that Parliament has approved the budget without debate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lok Sabha passes Bill to exempt political parties from scrutiny on foreign funds, without debate What has happened? The Lok Sabha, passed without a debate a bill that will exempt political parties from scrutiny of funds they have received from abroad since 1976 Background: amendments done to the Finance Bill 2018 Amendment to the Foreign&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/lok-sabha-passes-bill-to-exempt-political-parties-from-scrutiny-on-foreign-funds-without-debate\/\">Continue reading <span class=\"screen-reader-text\">Lok Sabha passes Bill to exempt political parties from scrutiny on foreign funds, without debate<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-30522","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":33,"cached_at":""},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/30522","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=30522"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/30522\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=30522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=30522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=30522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}