Significant for transparency: AAP lauds SC's electoral bonds scheme ruling

The Aam Aadmi Party on Thursday welcomed the Supreme Court's decision on electoral bonds, saying it is an important step in ensuring transparency in election funding.

In a landmark judgement that delivered a big blow to the government, the Supreme Court on Thursday annulled the electoral bonds scheme, saying it violates the constitutional right to freedom of speech and expression as well as the right to information.

The apex court ordered the State Bank of India (SBI) to disclose to the Election Commission the names of the contributors to the six-year-old scheme.

"We welcome this decision. This is an important step in the transparency of election funding. Otherwise through electoral bonds, it was not known which person was giving funds to which party. It is important for country's democracy that it is known which person is giving how much money to which political party," Delhi Cabinet minister Atishi told reporters outside the Assembly.

A five-judge Constitution bench headed by Chief Justice D Y Chandrachud directed that the SBI must disclose details of each electoral bond encashed by political parties. The information should include the date of encashment and the denomination of the bonds and be submitted to the poll panel by March 6.

The Election Commission should publish the information shared by SBI on its official website by March 13, the bench said.

"It is important for the citizens of the country to know the source of funds of the parties that are ruling at the Centre or in states. It is important for them to know that whether the decisions of the government are driven by voter choice or those who are funding them. It is an important step for the country's democracy," she added.