Context

• The Supreme Court, while giving its verdict on the validity of electoral bonds, has declared it unconstitutional..

Background

• This scheme was notified by the government on January 2, 2018.
•  Its objective was to bring transparency in political funding and it was introduced as an alternative to cash election donations or donations to political parties.
• Electoral bonds can be purchased by any citizen of India, either alone or jointly with someone else.
• Besides, it can also be purchased by any entity incorporated or established in the country.

Key Points

• According to the Supreme Court, keeping electoral bonds anonymous is a violation of the Right to Information and Article 19 (1) (A).
• Along with this, the apex court directed State Bank of India to submit the details of electoral bonds sold from April 2019 till now.
• It is noteworthy that for free and fair elections, the most important thing is that the voter has complete information about the political party and its candidate.
• Not only this, the previous decisions of the Supreme Court also say that in order to maintain electoral sanctity, there is a need for maximum transparency.

Judges Opinion

• All the CJI judges have the same opinion regarding this decision.
• A five-judge bench comprising Chief Justice of India DY Chandrachud and Justice Sanjiv Khanna, Justice BR Gavai, Justice JB Pardiwala and Justice Manoj Mishra had reserved its verdict in the case on November 2, 2023.
• It is noteworthy that the Constitution Bench of five judges of the Supreme Court has given two decisions.
• The conclusion of both the decisions is the same, that is, the Supreme Court has declared the Electoral Bond Scheme unconstitutional.

IMPORTANT FACTS FOR EXAM

• Article 19 (1) (a): Freedom of speech and expression provides the right of every citizen to freely express one's ideas and beliefs by speech, in writing, by printing, by drawing or by any other means.