Ban on firms’ funds for parties: Govt. decision

November 29, 2017 12:15 am | Updated 12:15 am IST

The Government of India has decided at the highest level to impose a ban on contributions by companies to political parties. This decision has been taken independently of the Bill introduced in the Lok Sabha by Mr. Madhu Limaye (S.S.P.) demanding a curb on such donations. It is reliably learnt that quite sometime ago the Union Minister for Industrial Development and Company Affairs was asked to go into the entire question and based on his recommendation the Union Cabinet proposed that there should be a total ban on such contributions. This matter was first highlighted when the Cement Allocation and Co-ordination Organisation was known to have distributed nearly Rs. 40 lakhs as donations for various political parties and individuals for election purposes. Contribution to the Congress party by companies during the accounting periods ending on December 31, 1966 and March 31, 1967 amounted to over Rs. 15.5 lakhs. A decision on the subject by the Union Cabinet had to be postponed due to the absence of the Prime Minister abroad on important engagements. A formal detailed announcement is expected to be made when the Minister intervenes during the resumed discussion of Mr. Limaye’s Bill.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in


Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.