The finance ministry is likely to announce the final scheme on electoral bonds in next 7-8 days, a top government official said on Tuesday.
“The government is working on the nitty-gritty of the electoral bond scheme and it will come out with the details in the next 7-8 days,” the official told TickerNews.
Finance minister Arun Jaitley in February announced the government’s intention to reduce limit for cash donation to political parties to Rs 2,000 from Rs 20,000 and a proposal to issue electoral bonds to be purchased from a bank.
“A donor could purchase bonds from authorised banks against cheque and digital payments only. These bonds shall be redeemable in the designated account of a registered political party within the prescribed time limit from issuance of bond,” Jaitley had said in his Budget speech.
The scheme would also entail an amendment in the Reserve Bank of India Act to enable the issuance of electoral bonds.
— TickerNews Service
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