“ OPAQUENESS “ is the
new “ TRANSPARENCY
“
I am not alone to say so in respect of
the just announced details of the Electoral Bonds , as described in my yesterday’s blog :
Even the Election
Commission says so !
Economic Times ( 05 Jan )
carries following news report :
“ Need A Year to Test Electoral Bonds’
Viability : EC Officials “
Extract :
However , Election Commission officials
said, maintaining secrecy
over a donor’s identity will remain a big challenge
“ Banks have the KYC { Know Your Customer } details of the donors and could be coerced into revealing the details. Anyone can hire a private
detective to get the details out “ , an official said
After the Electoral Bonds were proposed in the budget last year,
the poll body under the former Election Commissioner Nasim Zaidi had raised
concerns over the OPAQUENESS
of the scheme
It specifically objected to amendments in
the Representation of the People Act and the Companies Act , which EXEMPTED political parties from DISCLOSING DONATIONS received through ELECTORAL BONDS and REMOVED THE CAP ON CORPORATE
CONTRIBUTIONS TO POLITICAL PARTIES
The amendments only DISCOURAGE TRANSPARENCY in political funding, the Commission said in a communication to the
Law Ministry in May
It said, removal of the limit on corporate funding could lead to SHELL COMPANIES being set
up for the purpose of DONATIONS
Can you see where our politicians /
law-makers , are going wrong ( - on purpose ) ?
This will become clear when you read my following earlier suggestion
, which can be summarized as follows :
·
Let us stop funding …………Political
parties ( no direct donations )
·
Let us start funding…………Election
Process ( Central Election Fund )
·
EC to receive…………………..Election Funds from Individuals or Corporate (
Aadhar )
{ Adjustable against
CSR obligation for Corporate }
Daily published on CEC web site
·
Funds only by………………….Cheques
/ Digital means ( absolutely NO
CASH )
·
Funds to be distributed…..To
recognized Parties ( based on transparent formula )
·
Funds to be deposited……. EC to deposit funds into bank accounts of
Political
Parties and publish details on its web
site
·
Withdrawal from bank……. Very small Cash Withdrawals by Political
Parties
·
Usage of funds………………. For expenses incurred during Election- and
all
Payment
made by parties to be only by cheques
·
Parties Accounts …………… Mandatory Audit by CAG and published for all
to see
=======================================================
For details, read :
Transparency in Political Funding [ 06 July
2017
]
05 Jan 2017
www.hemenparekh.in
/ blogs
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