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Electoral bond scheme for political funding declared “unconstitutional”

Published on February 16, 2024
Current Context: The Supreme Court of India has indeed declared the Electoral Bond Scheme as “unconstitutional” on 15th February 2024.
Electoral bond scheme for political funding declared “unconstitutional”
  • Here are some key points from the verdict:
    • The Supreme Court stated that the scheme violates the Right to Information (RTI) and can lead to quid pro quo.
    • The court has ordered the State Bank of India (SBI) to reveal the names of the donors and the amounts received by political parties through the Electoral Bond scheme.
    • The scheme allowed anonymous funding to political parties.
    • It was first announced in the 2017 Union Budget speech by the late Finance Minister, Arun Jaitley.
    • The primary concern raised by transparency activists is that voters can no longer know which individual, company, or organization has funded which party and to what extent.
    • The Centre, however, has pitched bonds as an alternative to cash donations and as a way to increase transparency and accountability in political funding.
    • The Supreme Court has also struck down provisions in the Companies Act, Income Tax Act, and Representation of Peoples Act relating to electoral bonds.


Q.1 Who first announced the Electoral Bond Scheme?
a. The current Finance Minister
b. The late Finance Minister, Arun Jaitley
c. The Prime Minister
d. The President
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