NEW DELHI: Finance Minister Arun Jaitley today said state funding of polls needs to be debated as cynics may question why people should be taxed extra to fund elections and there is “no guarantee” that outside money will not find its way into campaign financing.
Jaitley was all for financing of political parties through ‘Electoral Bonds’, which he proposed in his budget speech. The bonds will open for sale a little before every election and donors can buy the bearer bonds from scheduled banks and donate to parties of their choice.
“It (state funding of elections) is a possible suggestion. But I will add only two caveats. It should not be read that I am critical of it.
“Many are going to question in long run in India given the level of cynicism in public opinion as to why people should be taxed extra in order to fund political elections,” he said at a discussion on ‘Campaign Finance Reform in India’.
Also, in this model, where the Government gives funds to political parties or candidates for contesting elections, there is “no guarantee” that only the money received from the state will be utilised and no outside funds will be spent, he argued. (AGENCIES)
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