Electoral Bonds Scheme Unconstitutional : Supreme Court
What was the Electoral Bonds Scheme ?
The electoral bonds were an infringement system that was introduced in 2017 as a way of a Finance bill. It was implemented in 2018 and repealed on 15th February 2024 at 10:30 AM by the honorable Supreme Court of India.
Why Electoral Bonds Scheme was Unconstitutional?
The Supreme Court has struck down the electoral bonds scheme as it was “unconstitutional” in nature and violated the right to information of the citizens.
When Soupreme Court repealed the Electoral Bonds Scheme?
The Electoral Bonds Scheme was repealed on 15th February 2024 at 10:30 AM by the honorable Supreme Court of India.
Who repealed the Electoral Bonds Scheme?
A five judges bench led by Chief Justice of India D Y Chandrachud repealed the Electoral Bonds Scheme.
When Electoral Bonds Scheme was came into force?
Electoral Bonds Scheme was came into force in 2018. The particular scheme was announced in the Union Budget speech for the very first time by the Union Finance Minister Late Arun Jaitley in 2017.
Electoral Bonds Scheme Unconstitutional: Supreme Court
Electoral Bonds Scheme Unconstitutional: The Supreme Court strikes down the anonymous poll funding system or the Electoral Bonds Scheme on 15th February 2024 at 10:30 AM. In this landmark verdict, the Supreme Court clearly states that the Electoral Bonds Scheme is “Unconstitutional” in nature as it violates the right to information under Article 19(1)(a). The particular scheme was announced in the Union Budget speech for the very first time by the Union Finance Minister Late Arun Jaitley in 2017.
In this verdict, Chief Justice of India D Y Chandrachud ordered that the banks should stop selling electoral bonds with immediate effect. They also told the State Bank of India to give a detailed report to the Election Commission of India detailing all the electoral bonds that were sold from April 12, 2019, till now.
In this article, we are going to discuss the Electoral Bonds Scheme with its history, features, and related loopholes in detail. We will also cover the news of the Electoral Bonds Scheme which is struck down by the Supreme Court of India.
Table of Content
- What is the Electoral Bond Scheme?
- Why it is in the News?
- Electoral Bonds – Overview
- Supreme Court struck down the Electoral Bonds Scheme
- Key Observations and Directions Of Supreme Court
- Effects – Electoral Bonds Scheme Unconstitutional : Supreme Court
- Concerns Related to the Electoral Bonds Scheme
- Transaction Toll Through Electoral Bonds Scheme – Party Wise
- Electoral Bonds Scheme – Data Released by the Election Commission of India
- Top 10 Regional Parties Income (₹) in FY 2021-22 (Unknown Sources)
- Electoral Bonds – Bond Numbers