POLITICAL FUNDING

POLITICAL FUNDING

The observation that power corrupts and absolute power corrupts absolutely is correct to its last word. Power invariably brings corruption, a centripetal force which tries to dissolve everything and anything in itself. Desire for power is the most innate form of desire. But this desire is not fulfilled by set norms and values and so people desiring power dare to cross the border of accepted norms and values. This gives birth to corruption.

Then what should be the future of power intertwined with corruption? Power itself can't be destroyed as it's essential for all goodness of society. However, means of checks and balances prevent power from crossing the limits of norms and values to adopt unfair agents to achieve the desired goals. Rather, agencies of checks and balances interfere and ensure that power doesn't pause at one place for a long time as longer is the time period of holding of power at one place, more severe is the danger of becoming power corrupted.

Firstly the Shastri ji's Committee rightly observed that corporate funding should be barred. But the limit of law is that it gives order a priority over justice. Lack of enthusiasm for justice gives people a false sense of satisfaction with order which people fail to understand gives a way to dismantling of institutions of checks and balances. According to a report by the Association for Democratic Reforms (ADR), 68% of the income of six national parties in India came from unknown sources in 2016-17. This shows how opaque and unaccountable the political funding system is in India.

Secondly,  longing for immunity from the system of law is another problem which plagues our democracy. It's a strange argument that public in general have no right to know from where people and parties who are to be elected to rule over them get funding. The AG has betrayed our democracy by embracing this argument. As former Chief Election Commissioner S.Y. Quraishi said, "Electoral bonds are a retrograde step as they don't reveal the name of the donor or the receiver. It will lead to more black money.

Therefore, the SC must step in firmly to strike down this law without losing a few seconds. *In conclusion* the electoral bonds law is a threat to democracy and transparency, and it must be seen the door.

    

   Of course the issue of funding to political parties is not simple so in this regard my opinion includes the following suggestions

1. Absolute bar on corporate funding.

2.No clandestine funding.

3. Public funding with no limit.

4.Crowd funding after announcement of the election programme.

5. Crowd funding initiative by the candidates themselves as well.

6. Allowing pol parties to invest money for getting saving returns

7. Donars exempted from tax on donation

8.pol parties charged taxes for getting donations

9.Every transaction including crowd funding must be accounted must generate receipt slips and expenditure slip

10.only online transaction through ECI app developed for the purpose

11.Annual ITR and GST return.

12. Annual asset liability report

13.Liable to tax laws and DA provisions.

   A nd some others as well.