It was inevitable that Indians would make an ingenious contribution to corruption. It now appears that we did in 2017. A set of amendments had brought into life the electoral bond, a financial instrument unique to India.
Last week, the Supreme Court struck it down as unconstitutional, which is a polite word for ‘illegal.’ The bond, which was sold in various denominations by the State Bank of India (SBI), could be bought by an Indian citizen, corporation or other type of organization, and deposited in the account of a legitimate political party that secured at least 1% of the votes polled in the last general or a state election. It enabled the donor to pay any amount to a political party and remain anonymous. Anonymous to us, that is, the citizens.
The government defended the anonymity of the donor stating that we had no business knowing everything. It even defended the anonymity of the donor in court. Attorney General of India R.
Ventakaramani said there “can be no general right to know anything and everything without being subjected to reasonable restrictions." Yet there was no public rage over electoral bonds. People did not hit the streets screaming how can they be kept in the dark about those donating crores to political parties, apparently out of unconditional love. They did not ask who the donors were and why were they donating, or what were they getting in return.
We can expect supporters of the ruling Bharatiya Janata Party (BJP) to be quiet, but a majority of Indians are not BJP voters. Yet, there was no real public ire. It was not public sentiment that made the Supreme Court look into electoral bonds.
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