Electoral Bonds and Democracy

Abstract

The Electoral Bond Scheme was introduced in India with the objective of promoting transparency in political funding while enabling individuals and corporations to make donations through the banking system. However, the scheme has generated significant debate regarding donor anonymity, electoral transparency, and democratic accountability. This article examines the concept, objectives, legal framework, and functioning of electoral bonds, along with the concerns raised by political parties, civil society organizations, and constitutional experts. It also analyzes the implications of the scheme for free and fair elections, transparency in political finance, and public trust in democratic institutions. Finally, the article discusses recent judicial developments and evaluates the future of political funding reforms in India.