An Alternative to Electoral Bonds ?

 STRUCTURE

No direct donations by anyone to any Political Party or to any Political Leader

Creation of a CENTRAL ELECTION FUND ( CEF ) , controlled / administered by the Central Election Commission

Donations can only be given to CEF and only by cheque quoting Aadhar number and get tax exemption as CSR

CEC will publish on its web site a continuous / dynamic / daily ACCOUNT of
amounts received ( with Aadhar No of each donor ) and amounts spent /
disbursed by CEC to Political Parties / Candidates ( with full details of each )

From CEF , Election Commission will distribute FUNDS to political parties for
fighting elections / other expenses , on predetermined ‘ Occasions ‘

PROCESS

Funding of Political Parties by CEC ( from CEF ) , can be made as per following
alternatives :

[ A ]   AFTER THE ELECTION ( CANDIDATE based Reimbursements ) :

After each Election ( Central / State / Municipal ) ALL candidates contesting
the election ( including independent candidates ) shall submit to CEC ,
a STATEMENT of EXPENSES incurred in fighting the election.

Even if a group of parties have come together to fight the election (
MahaGathBandhan ), each candidate will get linked to ONE party only

# Statement will be as per format decided by CEC , giving category-wise expense details ( all payments listed in the statement , must be through legal / official channels , such as Cheque / Electronic Bank Transfer / Mobile Wallets etc )

# There will be UPPER LIMITS of REIMBURSEMENT for each category of expense and an overall limit

# The statement will also show the “ Sources of Funds “ ( with full details such as OWN or borrowed from CLOSE RELATIVEs , with names )

# Actual amount to be reimbursed to each candidate , will be computed based on a number of factors , main factor being the “ percentage of popular votes polled “ by that candidate ( no reimbursement for those candidates who get less than 5 % of popular vote )

# Actual re-imbursements made by CEC , shall not be counted as INCOME of that candidate , for Income Tax purpose


[ B ]  BEFORE THE ELECTION ( PARTY – wise ADVANCES ) :

( for this alternative , read the blog )