Hiding electoral bonds donors names will stifle transparency, says Congress

Randeep Singh Surjewala
Randeep Singh Surjewala, File Photo

New Delhi, Jan 3: The Congress on Wednesday said that hiding the donor names of electoral bonds is a regressive step that will convert the process to the BJP-led central government’s “favorite color black” and is meant to “stifle transparency”.

Congress spokesperson Randeep Singh Surjewala in a series of tweets, said “Hiding donor names of electoral bonds is a regressive step that paints process of electoral funding to Modi government’s favorite color: BLACK!,”

“Is it meant to stifle ‘transparency’ & give unlimited access to ruling party to misuse information and state machinery to coerce donors!” he further added.

In a bid to bring transparency and clean the system, the government on Tuesday notified a scheme of electoral bonds.

While 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 contemporary 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.  The name of the payee will be anonymous.

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