Government exploring options after Supreme Court scraps electoral bonds: Sources

The government is exploring its options on how to respond to the Supreme Court striking down the eletoral bonds scheme, sources told India Today TV.

On Thursday, a five-judge constitution bench headed by Chief Justice DY Chandrachud struck down the electoral bonds scheme that allowed anonymous funding to political parties.

In its order, the Supreme Court said the electoral bond scheme was “violative” of the constitutional right to freedom of speech and expression and right to information. The court also ordered the State Bank of India to provide details of donations made to the Election Commission and told the poll panel to furnish the data on its website by March 13.

According to government sources, the electoral bonds scheme was implemented to curb the use of black money in elections. Removing this scheme may lead to increased use of unaccounted money during polls, sources said.

Sources said the government is concerned about revealing the identity of the donors as it would be a breach of trust under the Banking Act.

Also, publishing the list of donors by March 13 would not be easy, sources said.