POLITICAL DONATIONS

'AAP got Rs 7 crore foreign funds from 2014 to 2022': ED to MHA in August

Enforcement Directorate informed Union Home Ministry that Aam Aadmi Party received Rs 7.08 crore foreign funds from 2014 to 2022, violating Foreign Contribution Regulation Act, Representation of People Act, and Indian Penal Code. Funds came from multiple donors in US, Canada, Australia, Saudi Arabia, UAE, Kuwait, Oman, and others, with concealed identities to bypass restrictions on foreign donations.

BJP government in Tripura is preparing to implement CAA: CM Manik Saha

A six-member state-level empowered committee with the Director of Census Operations as its chairman was formed in Tripura recently to grant citizenship under the CAA. A senior officer in Tripura said that district-level committees headed by the District Magistrates of all the eight districts were also formed accordingly.

Companies bribed political parties through electoral bonds to secure projects: Prashant Bhushan

Senior advocate Prashant Bhushan alleged companies used electoral bonds as bribes to secure projects, demanding an SIT probe for corruption. He criticized pharmaceutical firms benefiting from bonds and emphasized transparency in political funding.

How the Patnaiks, despite being 2% of Odisha's population, ruled the state for 45 years, and maybe beyond

As Odisha undergoes polling for the assembly elections, Naveen Patnaik, the incumbent Chief Minister, is aiming to secure his sixth term in office. The Patnaiks have remained the most influential force in Odisha's political and economic landscape.Across the span of 77 years since Independence, just three individuals from two Patnaik families - Janaki Ballav (JB), Biju, and the latter's son Naveen - have collectively governed the state as chief ministers for 45 years. While these three have led Odisha for 47 years, the remaining 32 years have seen governance by 11 other leaders.

Akshaya Tritiya 2024: Do's and don'ts you should follow on the auspicious day

In 2024, Akshaya Tritiya, celebrated on May 10th, holds immense significance for Hindus, marking a propitious time for new beginnings, ventures, and purchases of gold and silver jewelry. It's also known as Akha Teej, falling on the third lunar day of the bright fortnight in Vaishakha. Spiritual activities, pujas, charity, and maintaining positivity are encouraged, while harsh words, overspending, and unhealthy habits are cautioned against.

BJP put lives at stake for extorting political donations from vaccine manufacturer: Akhilesh Yadav

Amid a controversy surrounding the Covishield vaccine's alleged side effects, Samajwadi Party chief Akhilesh Yadav accused the BJP of risking lives for political donations from the vaccine manufacturer. He called for a high-level judicial probe, stating that allowing such medicines is akin to a conspiracy to commit murder. AstraZeneca, the manufacturer of Covishield, has admitted to a rare blood clot-related side effect in its COVID-19 vaccine. Akhilesh Yadav criticised the BJP for allegedly putting public lives at risk for political gain and called for a thorough investigation into the matter. The controversy has sparked concerns about the safety and efficacy of the vaccine, with opposition leaders demanding accountability and transparency in vaccine distribution.

Electoral bond scheme deliberately ' muddied waters' of corporate political donations: Congress

Jairam Ramesh alleged there are four primary channels of corruption in the "electoral bond scam" and everyday a new dimension emerges to the "PayPM Scam", "confirming the shocking reality of the corruption which has engulfed this country through Narendra Modi's encouragement".

Electoral Bonds: Lifting veil on Megha, Vedanta, Future Gaming and Reliance-linked co's donations to BJP, TMC, Congress & others

The State Bank of India (SBI) has released the complete electoral bond data as per the Supreme Court's directives. The dataset contains unique alphanumeric numbers linking bond purchasers to the political parties redeeming them.

Kotak family-owned Infina Finance gives Rs 60 cr to BJP via electoral bonds

Little-known NBFC Infina Finance, owned by the Kotak family, has donated electoral bonds worth Rs 60 crore to the BJP. According to the data given by the State Bank of India (SBI) to the Election Commission, Mumbai-based Infina Finance purchased these bonds in the denomination of Rs 1 crore in 2019, 2020 and 2021.

Electoral Bonds: These companies donated way higher than their profits

Half measures can make things murky

Judicial intent for voter choice through EB disclosures risks driving corporate donations underground, potentially compromising anonymity and transparency. Lobbying legitimacy could enhance governance, benefiting both voters and shareholders.

At a personal level I purchased electoral bonds: Biocon's Kiran Mazumdar-Shaw clarifies on political donations

​​ Kiran Mazumdar-Shaw clarified that the donations were made on a nominal scale, adhering to the principle of funding election campaigns with transparent and legitimate sources of income, commonly known as 'white money.'

"Are all 1,300 companies that donated through bonds thieves?" Acharya Pramod Krishnam amid Oppn barbs at Centre

Expelled Congress leader Acharya Pramod Krishnam supported the Centre regarding the publication of electoral bond funding details. He questioned if the Opposition considered the 1,300 companies that donated through electoral bonds as 'thieves'. Krishnam criticized Rahul Gandhi and the Opposition, saying they were tarnishing Prime Minister Modi's intentions behind the scheme. The Election Commission uploaded the data on electoral bonds as per the Supreme Court's direction. The Congress alleged that 60% of the electoral bonds went to the BJP, accusing them of misusing government agencies.

Electoral bonds: The biggest bond buyers outspent their profits to donate to political parties

Future only recorded a combined net profit of ₹215 crore for the last three years, putting its bond spending at more than six times its profits. Qwik Supply Chain, which donated the second-highest amount of money at ₹410 crore made a profit of only ₹110 crore, giving away 374% of its profits.

View: Lifting veil on corporate political donations via poll bonds throws troubling questions

Electoral bonds data revealed major donors' name, raising concerns about the relationship between money and politics ahead of the upcoming Lok Sabha elections. The disclosure of anonymous electoral bonds sheds light on hidden transactions and highlights the need for transparency in democratic processes.

The curious case of Rs 1,000 electoral bonds: Many opted for smallest EBs, including FMCG major ITC

From April 16, 2019, to January 10, 2024, a total of 132 Rs 1,000 bonds - the smallest electoral bonds - were purchased. Despite their count, Rs 1,000 bonds represent a minuscule fraction compared to the Rs 12,769 crore worth of bonds purchased in the same duration.

No link between ED raids and political donations to ruling party: FM

Finance Minister Sitharaman addressed allegations of ED raids' ties to electoral funding, advocating for a transparent political funding system. She discussed the electoral bond scheme's imperfections and the Supreme Court's ruling on its constitutionality, emphasizing the need for transparency in political funding.

A publicly-funded, transparent model of campaign finance can be a start in the right direction

In a country the size of India where electoral fights are money-dependent, there are no magic formulas. Worse, any real change is likely to take decades, with several missteps on the way. Still, a public fund could be the start in that direction. Supreme Court has already set the tone by freezing electoral bonds

Electoral bonds: Who got how much through these donations now deemed 'unconstitutional'

SC flags lack of distinction between 'campaign and electoral funding'

The Supreme Court has highlighted the lack of distinction between campaign funding and electoral funding in the legal regime. It emphasized the connection between economic inequality and political inequality, the importance of transparency and the right to information, and the concerns regarding asymmetric access to information.

Income Tax department issues notices to taxpayers for donations to unrecognized political parties

The Income Tax Department has issued notices to taxpayers who made donations to political parties registered but not recognized by the Election Commission, for fiscal years 2021 and 2022. The notices under Section 80GGC of the Income Tax Act aim to investigate whether such donations were used for tax evasion and money laundering. Around 5,000 notices have been sent so far, targeting donations to about 20 unrecognised political parties.

SC announces verdict on electoral bonds scheme: What is it and how is it connected with poll funding?

The Supreme Court is preparing to announce its decision on the legality of the electoral bond scheme, following a series of petitions challenging its validity. The scheme allows individuals and companies to purchase bonds for political donations, offering tax exemptions and donor anonymity. Critics argue the scheme promotes corruption and violates transparency, while the government asserts it checks illicit money use in elections. The verdict follows a bench's reservation of judgment last November, led by Chief Justice DY Chandrachud.

Sale of 30th tranche of electoral bonds to start on Tuesday

The finance ministry further said electoral bonds will be valid for 15 calendar days from the date of issue, and no payment will be made to any payee political party if the bond is deposited after the expiry of the validity period.