Millennium Post

Electoral bonds to cleanse political funding system: Govt

Electoral bonds to cleanse  political funding system: Govt
The government on Thursday said its proposal to launch electoral bonds was aimed at cleansing the system of poll funding and invited suggestions from all political parties for making the process better.

Finance Minister Arun Jaitley, while speaking in the Rajya Sabha, however, rejected a suggestion for making PAN and Aadhaar mandatory for cash donations, saying it was not feasible, particularly in rural areas. Replying to a debate on the Budget, he explained at length as to how the system of electoral bonds would improve the system of poll funding, saying it will ensure clean donations while ensuring anonymity of the donor.

"People have been wanting to pay (political parties) by cheques but there has been a fear that they could land in trouble as their identity would stand exposed. (Through the electoral bonds) we have addressed both the issues -- ensuring clean donations and keeping identity of the donor confidential," he said.

At the same time, he said if any party has any suggestions to improve the system further, they are welcome for give those. To a remark by Congress leader Anand Sharma that his party is not getting donations, Jaitley said the electoral bond system will ensure that his party also gets the funds.
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