Following the presentation of the Union Budget 2017-18, Finance Minister Arun Jaitley said that political parties continue to received funding from anonymous sources, and hence reduced the maximum donation that a political party can receive in cash is Rs 2,000 from any one source. Justifying his move the Finance Minister cited the example of former US President Barack Obama and stated that Obama took donations of $50 from one and $100 from another. FM Jaitley said that the country must also follow the example.
In a big announcement made today that will have far-reaching consequences on the political firmament in the country, and perhaps change it for the better forever, Finance Minister Arun Jaitley today indicated that the way political parties receive their funds will change. FM Jaitley, while presenting the Union Budget in Parliament today said, “Maximum amount of cash donation a political party can receive will be Rs 2000 from any one source as part of effort to clean political funding. Political parties stand barred from accepting cash donation beyond Rs 2,000 per individual. They can receive donations via cheques, electronic mode; electoral bonds to be issued by RBI.”
Among the first to react to the budget announcement on political funding was Congress Vice President Rahul Gandhi, who said, “We appreciate proposals on political funding. Any step to clean political funding will be supported by us.” However, as far as his reaction about the Union Budget proposals announced by FM Arun Jaitley are concerned, he said that he was not much impressed. Gandhi said, “We were expecting fireworks, instead got a damp squib.”
PM Narendra Modi, in his reaction to the announcement in the Budget, said, ‘it was an important step to clean politics of corruption’.