A Study on Electoral Bonds in India

Abstract

India is the largest and healthiest democracy in the world. It is obvious that elections are essential to maintain the basis and essence of democracy. Electoral bonds are promissory notes that may be acquired by anybody to give money to political parties. Any person who is an Indian citizen and any company may acquire this electoral bond. This is a covert method of giving cash or funds to a political party. This article will look at how a functional democracy is impacted by electoral changes and their covert objectives. The fraud is exacerbated by the need that all electoral bonds be redeemed through a bank account that the Election Commission of India has made public. All electoral bond transactions are done digitally or with cheques. An initial comprehensive understanding about the working of electoral bonds in India alongside the minimum threshold analysis sets the stage for the study. A brief overview of the specific tax benefits to investors is provided. The study identifies that the awareness of electoral bonds across various age groups, gender, educational qualifications doesn’t change. It was empirically established that electoral bonds were not perceived to be risky by individuals, but they were negatively perceived.