In a landmark verdict on Thursday, February, the Supreme Court of India declared the Electoral Bonds scheme as violative of the Right to Information Act under Article 19(1)(a). A five-judge Constitution bench led by Chief Justice D Y Chandrachud delivered the judgment, putting an end to the longstanding debate over anonymous funding to political parties.
The bench, which had reserved its verdict on November 2 last year, addressed a batch of petitions challenging the validity of the Electoral Bond scheme. The contentious scheme allowed for undisclosed contributions to political parties, raising concerns about transparency and accountability in the electoral process.
In its ruling, the apex court unequivocally held that the Electoral Bonds scheme violates Article 19(1)(a) and is deemed unconstitutional. The court struck down the scheme, emphasizing the critical importance of transparency in political funding. Chief Justice DY Chandrachud underscored the unanimity of the verdict, noting that both his judgment and that of Justice Sanjiv Khanna were unanimous. The court emphasized that political parties play a crucial role in the electoral process, and transparency in their funding is imperative for informed electoral choices.
Furthermore, the Supreme Court emphasized that disclosing information about corporate contributors through Electoral Bonds is essential, as such donations often involve quid pro quo arrangements.
The verdict marks a significant milestone in India's electoral landscape, signaling a renewed commitment to transparency and accountability in political funding. As the nation grapples with challenges related to electoral integrity, the Supreme Court's decision is poised to have far-reaching implications for the future of democracy in the country.