Transparency in election financing, a myth? When providing financial assistance to candidates, political parties must adhere to prescribed expenditure limits and ensure payments are made through accountable financial instruments. Furthermore, political parties are required to maintain and submit annually audited accounts by qualified Chartered Accountants to the ECI. Despite the much-proclaimed extensive regulatory framework established by the ECI to monitor and control election spending, transparency remains a major concern. Despite the ECI’s efforts to enforce expenditure limits and ensure transparency, political parties often engage in under-the-table giveaways, including gifts, cash, and gold, to influence voters.

Source: The Hindu June 10, 2024 11:41 UTC