Indian Supreme Court invalidated Prime Modi’s funding initiative

On February 15, the Indian Supreme Court made a landmark decision by striking down the electoral bonds scheme, a controversial mechanism introduced by Prime Minister Narendra Modi’s government in 2017. The ruling, delivered by a five-judge bench headed by Chief Justice D.Y. Chandrachud, deemed the scheme unconstitutional as it permitted anonymous donations to political parties.

This verdict dealt a significant blow to the ruling Bharatiya Janata Party (BJP), which heavily relied on electoral bonds for its funding, making it the wealthiest political party in India. The decision marked a departure from Modi’s previous image, as it implicated him as a facilitator of political corruption. Opposition leader Rahul Gandhi of the Congress Party seized upon this opportunity to criticize the BJP government’s alleged ties with big business.

Interestingly, shortly after the verdict, the Congress Party discovered that its bank accounts, along with those of the Youth Congress, had been frozen by the Income Tax department. This move was seen as a retaliatory action, prompting accusations of democracy being compromised.

The Supreme Court’s ruling, which came just months ahead of general elections in India, raised questions about its potential impact on the upcoming polls. Additionally, the court directed the State Bank of India, the designated bank for the electoral bond scheme, to disclose the names of all donors since April 2019 within three weeks. This decision challenged the Modi government’s stance that the scheme protected donors’ privacy.

Opposition parties welcomed the court’s decision, with Gandhi accusing the Modi government of using electoral bonds as a means of bribery. The Congress Party had long criticized the government for undermining democracy through the scheme.

The electoral bonds scheme, introduced in 2017, faced scrutiny for its lack of transparency. It allowed individuals and corporate entities to purchase bonds anonymously, which could then be donated to political parties. Critics argued that this secrecy facilitated political corruption on a large scale.

The court’s ruling was seen as a victory for transparency advocates and RTI activists, who had challenged the scheme’s legality since its inception. Despite previous attempts to halt the sale of electoral bonds, the court’s final decision was hailed as a step towards restoring faith in democracy and the rule of law.

The verdict highlighted the judiciary’s role in upholding democratic principles and holding the government accountable for its policies. It invalidated several amendments introduced by the Modi government to legalize electoral funding through bonds, restoring transparency and accountability in political financing.

Politics News: Indian Supreme Court invalidated Prime Modi’s funding initiative