Electoral Bonds need to be fixed
The amendments to the Finance Bill 2017 removed: (i) The limit of 7.5 per cent of net profit of the last three financial years, for contributions that a company may make to political parties. (ii) The requirement of a company to disclose the name of the political party to which a contribution has been made.
• With this change, the companies were allowed to offer, and political parties receive unlimited corporate funding without any obligation to transparency.
Were these incentives not enough to facilitate political funding? What has prompted the government to come up with electoral bonds?
The fact of the matter is that despite several concessions, it was not easy to make fat cash donations. With the help of electoral bonds, the big cash contributions will land in political accounts through the banking channel while the identities of donors will only be known to the political parties. No surprises if black money travels to political accounts via electoral coupons, purchased from the bank with forged identities (KYC).
It is time to pose some straight questions to the government:
1) Why should political contributions get a double (company and political party) tax exemption? What charity is being served with this funding?
2) What is the harm in telling the country who is paying how much to which party?
Political funding is at the core of India's corruption. Irrespective of the government at the helm, India’s political funding is running a massive scam incessantly.
Now, we are required to be extremely strict with our politicians, or else we have to accept that whichever party is in power and howsoever popular the leader is, this darkness will never end more
• With this change, the companies were allowed to offer, and political parties receive unlimited corporate funding without any obligation to transparency.
Were these incentives not enough to facilitate political funding? What has prompted the government to come up with electoral bonds?
The fact of the matter is that despite several concessions, it was not easy to make fat cash donations. With the help of electoral bonds, the big cash contributions will land in political accounts through the banking channel while the identities of donors will only be known to the political parties. No surprises if black money travels to political accounts via electoral coupons, purchased from the bank with forged identities (KYC).
It is time to pose some straight questions to the government:
1) Why should political contributions get a double (company and political party) tax exemption? What charity is being served with this funding?
2) What is the harm in telling the country who is paying how much to which party?
Political funding is at the core of India's corruption. Irrespective of the government at the helm, India’s political funding is running a massive scam incessantly.
Now, we are required to be extremely strict with our politicians, or else we have to accept that whichever party is in power and howsoever popular the leader is, this darkness will never end more
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DESPITE THESE ELECTORAL BONDS AND THE POPULARITY OF THE HON'BLE PRIME MINISTER , THE B.J.P. COULD NOT MUSTER THE REQUIRED MAJORITY FOR FORMING THE GOVT. IN MAHARASHTRA . WHY ?? THE ANSWER, MY FRIENDS , HAS BEEN BLOWING IN THE WIND EVER SINCE THE BULLET TRAIN PROJECT WAS ADOPTED , YES, ADOPTED , BY THE B.J. P. IN 2004. I HAD THEN PREDICTED, THAT THIS PROJECT WOULD BE USED , LIKE A BIG STICK, TO DEFEAT THE B.J.P. IN FUTURE ELECTIONS. THIS IS EXACTLY WHAT HAPPENED RECENTLY, IN MAHARASHTRA. THE RWAL "POWER" IN MAHARASHTRA STATE , IS NONE OTHER THAN PAWAR'S POWER PLAY, WITH THOUSANDS OF CRORES OF BLACK MONEY AND LAKHS OF SUGARCANE FARMERS TO SUPPORT HIM,. ANOTHER IMPORTANT PREDICTION I HAD MADE , WAS THAT THE VAST AMOUNT OF ILLEGAL WEALTH OF THE CONS-GRESS LEADERS , ESPECIALLY MALLIKARJUN KHARGE, WOULD BE PUT TO MAXIMUM ADVANTAGE , IN DEFEATING THE B.J.P. AGAIN AND AGAIN. MONEY POWER AND MUSCLE POWER WERE THE MAIN WEAPONS USED AGAINST THE B.J.P. THE CENTRAL GOVT. IS BEING WEAKENED BY HIGHLY MEDIOCRE TYPE OF ADMINISTRATIVE BABBOOS, IN ALL SPHERES. ESPECIALLY THE AGRICULTURAL SECTOR. HOW PATHETIC FOR THE MODI GOVT. 'S IMAGE !!!! BETTER IMPROVE THE SITUATION SOON OR THERE W8ILL BE MORE ELECTORAL FAILURES . THE ROLE OF THE SHIV SENA WAS AS EXPECTED. IT WAS A DO OR DIE SITUATION WHICH COMPELLED THEM TO MAKE ADJUSTMENTS WITH THE CONS. more
Nov 27
Funny, anyone can purchase the bond without disclosing their identity, but when a certain party en cashes this bond, even the party's identity is not asked? So, one cannot guess how much each party got from this largess? Andhe nagri..... more
Nov 20
THE ELECTION FUNDING NEEDS MAJOR REFORMS TO RULE OUT CORRUPTION. HOW AND WHEN - A BIG QUESTION more
Nov 20
