"When India's top court banned a controversial scheme in February 2024 that allowed individuals and corporates to make anonymous donations to political parties through opaque electoral bonds, many transparency activists hailed the judgement as a win for democracy. Between 2018, when Prime Minister Narendra Modi's government introduced the electoral bonds, and when they were scrapped in 2024, secret donors funnelled nearly $2bn to parties."
"More than half of that went to Modi's Hindu majoritarian Bharatiya Janata Party (BJP), which has held India's central government since 2014, and also governs at least 20 Indian states and federally controlled territories, either directly or in coalition with allies. In striking down the scheme, the Supreme Court said that political contributions give a seat at the table to the contributor and that this access also translates into influence over policymaking."
India's Supreme Court banned anonymous electoral bonds in February 2024, which had allowed opaque donations to political parties. Between 2018 and 2024 nearly $2 billion in secret donations flowed to parties, with more than half going to the Bharatiya Janata Party (BJP). The Court found that political contributions grant contributors access and potential influence over policymaking. After the ban, major companies resumed using electoral trusts that require donor disclosure. Despite this transparency, corporations continue making large donations to parties positioned to benefit from favorable policies and contracts, raising persistent concerns about quid pro quo and concentrated political funding.
Read at www.aljazeera.com
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