Union Finance Minister Arun Jaitley has said his department will soon come out with a detailed policy on electoral bonds, a scheme announced in the 2017–18 budget.
The scheme is billed as a tool to bring in more accountability in funding of political parties. Mr. Jaitley credited Prime Minister Narendra Modi for the initiative. Addressing BJP workers here on Sunday, he said the electoral bonds which would be in the form of a promissory note would be available to leading banks where donors can purchase them. “We are in the process of announcing the rules of the scheme,” he said.
The government is all set to amend Representation of the People Act to maintain privacy of the identity of those who buy electoral bonds.
