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  1. Union Budget 2017 – Political Funding: Arun Jaitley bars payments of cash donations over Rs 2,000 to parties; leaders react

Union Budget 2017 – Political Funding: Arun Jaitley bars payments of cash donations over Rs 2,000 to parties; leaders react

In a big announcement made today that will have far-reaching consequences on the political firmament in the country, Finance Minister Arun Jaitley today indicated that the way political parties receive their funds will change.

By: | New Delhi | Updated: February 1, 2017 4:33 PM
Finance Minister Arun Jaitley today indicated that the way political parties receive their funds will change. (PTI) Finance Minister Arun Jaitley today indicated that the way political parties receive their funds will change. (PTI)

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.” This is yet another effort by the Narendra Modi government to fight black money in the system after the demonetisation drive that banned the Rs 500 and Rs 1000 notes. The reactions came from various political parties quickly. As was the case with demonetisation and black money fight, political leaders across the spectrum of affiliations are saying that they will cooperate with the government in its endavour to clean up the political system in the country. Check out their reactions below:

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Among the first to react 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 about political funding today in the Budget, said, ‘it was an important step to clean politics of corruption’.

Union Budget 2017 is a transformative one; It’s a step towards cleaning the whole political system, we welcome it: Union Minister Ananth Kumar

Dr. Munish Raizada, convener of Chanda Bandh Satyagraha (No List: No Donation campaign) against Aam Aadmi Party has welcomed the decision of Finance Minister Arun Jaitely to cap cash political donation at 2000 per source. “The decision of Finance Ministry to enhance electronic and digital mode of political donations will help curb use of black money in politics. Proposal to issue Electoral bonds is also a welcome step in this regard.” – Raizada said in a statement issued here in Delhi.

“These steps are big signals about the government mindset. (They) show its determination to shed the skin of legacy and step firmly into the future,” the Mahindra group chairman wrote on micro-blogging site Twitter.

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