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EC to Reiterate its Opposition to Electoral Bond

March 26, 2019 06:30 AM


EC to Reiterate its Opposition to Electoral Bond
CONSISTENT STAND Post-detailed discussions, Election Commission sticks to its 2017 position
Scheme set to come up for hearing in Supreme Court today

New Delhi:

The Election Commission is set to reiterate its strong reservation on the electoral bond scheme when it comes up for hearing in the Supreme Court on Tuesday, people familiar with the matter told ET.

After detailed discussions on the matter that went on until Monday, the EC has decided to stick to the position it took in its 2017 communication when it raised some concern about electoral bonds that have become perhaps the largest funding for political parties.

Anonymity of the donor and enabling even non-profit making companies to buy electoral bonds were two major concerns red-flagged by the EC and both were ultimately ignored in the scheme, notified months later in January 2018 by the government. The EC position is likely to have significant bearing on the writ petition filed by CPM and the Association of Democratic Reforms, challenging the electoral bond scheme.

The government has defended the scheme in the Supreme Court.

Electoral bonds scheme, which came into effect in January 2018, had clocked in over ₹600 crore political funding by October 2018.

ETwas the first to report how in 2017-18, the ruling BJP has been the biggest benefactor of the scheme it launched earlier this year in a bid to infuse ‘clean money’ into political funding. Of the electoral bonds worth ₹222 crore that were purchased in March 2018, ₹210 crore went to BJP.

EC was earlier looking to recalibrate its position on the matter after examining the audit reports of political parties. Former CEC OP Rawat had also told ET in an interview that none of the EC concerns had been addressed by the government in the scheme.


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