Free and fair elections.

Electoral bonds create uneven playing field: Crusader on verdict

Such funding ensures only super-rich can contest; make laws for everyone: Batra

Prashun Bhaumik | New Delhi | 16 February, 2024 | 11:00 PM

From 2017-’18, when the electoral bonds scheme was introduced, to 2022-’23, the ruling Bharatiya Janata Party had cornered a lion’s share of money from electoral bonds – Rs 6,566.12 crore of Rs 12,979 crore. The BJP collected more money from electoral bonds than all other parties combined. Batra said that legal amendments have removed the cap corporate donations to political parties and allowed foreign companies to fund political parties through Indian subsidiaries. “These are people and entities who can influence policy,” said Batra. With 94.5% of electoral bonds being in Rs 1 crore denomination, “it is the super-rich [who] will be influencing the policies of this country”, he said.