New Delhi: Cleansing political funding is a “big challenge” but the government is working on the electoral bonds mechanism announced in Union budget to end corruption, finance minister Arun Jaitley said on Saturday. “There is corruption in politics because of our electoral funding mechanism... There is no transparent mechanism for electoral funding.... Is a very big challenge in front of the country to cleanse the political funding,” Jaitley said at an event in New Delhi. In a major move aimed at promoting transparency in political funding, Jaitley had in this year’s budget speech announced capping of anonymous cash donations to political parties at Rs2,000 and introduced electoral bonds. In March, during a debate in Parliament, Jaitley had invited suggestions from political parties to make electoral funding more clean and transparent.

Source: Mint July 01, 2017 15:45 UTC