Cap on corporate funds for political parties goes

Source of money for political entities widened; Lok Sabha passes Finance Bill

Harmonising efforts to curb flow of cash and unaccounted money into the political system, Parliament on Wednesday approved the government’s proposal to relax conditions for contributions made by corporate entities. This will also facilitate the broadening of political funding channels.

Besides removing the cap for contributions, companies will also be allowed to keep the names of political parties confidential in their accounts. The move was proposed as part of the amendments to the Finance Bill, 2017, by the government.

The Bill was passed by the Lok Sabha on Wednesday. This effectively means that Parliament has passed the Bill. The Rajya