Exploring electoral bonds in the light of constitutionalism

Law

Free and fair elections are essential to any democracy. In order to finance elections, India, one of the most populous democracies, introduced an electoral bonds program in 2018. This initiative affects election funding by allowing corporations to hide the specifics of their political contributions by keeping the identities of the bond buyer and beneficiary secret. Because this anonymity makes money laundering easier, businesses find it desirable. This article presents a thorough review of many statutes and laws related to the electoral bonds scheme. Sadly, by delaying court cases related to this system, the Indian judiciary has failed in its duty as the last arbiter and protector of the constitution. This delay gives the ruling party an unfair edge. Anonymity and secrecy undermine accountability in democracies. The current election funding arrangement is a threat to fair and transparent elections. India's democracy has suffered as a result of this new political financing framework, and the general public is still unaware of whether the ruling party supports the corporate donations made possible by it.

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