Election Commission and Government is at stake regarding Electoral Bonds
As per report the supreme court declared the scheme unconstitutional. The bonds could be purchased only from selected branches of SBI. Therefore, the election commission had to get information from there also. In such a situation, after the order of the supreme court, the eyes of the countrymen were fixed on the stand of SBI. Now a strange situation has arisen due to the stand of SBI.
Meanwhile SBI's stance on electoral bonds should be considered extremely worrying. Due to this, the trust of the common people in the supreme court, the election commission and the government is at stake. Despite all the opposition, in the name of ensuring transparency in political donations in 2017, the Modi government decides to introduce electoral bonds. But the entire system and process is adopted in such a way that there is no scope for even a small amount of transparency from the point of view of the citizens of the country.
To introduce electoral bonds, the Modi government makes changes in five important laws of the country through the Finance Bill, 2017. These included the Representation of the people Act, 1951 as well as the Company Act, 2013 and the Income Tax Act, 1961. The reserve bank of india Act, 1934 and the Foreign Contribution Regulation Act, 2010 (FCRA) were also amended. Through these changes, the Modi government not only removed every obstacle in the implementation of electoral bonds, but also destroyed the small scope of transparency forever.