Hiding electoral bonds donors names will stifle transparency: Congress

The government on Tuesday notified a scheme of electoral bonds in a bid to clean the system and bring transparency in political funding in the country.

Published: 03rd January 2018 07:46 PM  |   Last Updated: 03rd January 2018 07:46 PM   |  A+A-

Congress leader Randeep Singh Surjewala (File | PTI)

By IANS

NEW DELHI: The Congress on Wednesday said that hiding the donor names of electoral bonds is a regressive step that will convert the process to the Narendra Modi government's "favourite colour black" and is meant to "stifle transparency".

"Hiding donor names of electoral bonds is a regressive step that paints process of electoral funding to Modi government's favourite colour: BLACK!," said Congress spokesperson Randeep Singh Surjewala in a series of tweets.

"Is it meant to stifle 'transparency' & give unlimited access to ruling party to misuse information and state machinery to coerce donors!" he added.

The government on Tuesday notified a scheme of electoral bonds in a bid to clean the system and bring transparency in political funding in the country.

Announcing the launch of the scheme in Parliament, Finance Minister Arun Jaitley said these bonds will bring a substantial amount of transparency in political donations against the present system of contributions.

The electoral bonds will be a bearer instrument in the nature of a promissory note and interest-free banking instrument which any citizen or a corporate body will be eligible to purchase.

The purchaser would be allowed to buy the bonds after fulfilling the KYC norms and by making payment from a bank account. It will not carry the name of the payee.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp