Dirty affairs of unaccounted money
Faulty provisions under present poll-laws and Income Tax Act are responsible ever-increasing non-serious registered mushrooming political parties now exceeding 2,000 out of which there are only very few political parties having seriously contested elections any time. It is ridiculous that the Election Commission has the power to register political party but without any provision to de-register any political party. Such non-serious political parties are mainly registered for whitening black money through the misused provision of tax-exemption on contributions made to and received by registered political parties.
The best and the only way to the nuisance of political parties involved in dirty affairs of unaccounted money is to abolish sections 13A, 80GGB and 80 GGC of Income Tax Act regarding exemptions available for contributions made-to and received-by political parties. Huge revenue so earned will be available for public welfare and national development. Otherwise, also Indian political parties seriously contesting elections are rich enough to do away with such undesired tax-exemption which is grossly misused also.
Moreover,, the Election Commission should have the power to de-register any political party having not contested for some minimum number of seats in last say three years.
Funding to the political parties should be made transparent by making it compulsory for every political party for regularly updating data on website including the name of contributors about funding received including through electoral bonds where presently names of those making contributions through electoral bonds are not disclosable.
The stock price of DHFL crumbled like cookies after Cobrapost revealed that the promoters of the company had siphoned off Rs 31,000 crores from the company. Such revelations without substantial proof are detrimental for all those who invest in the stock markets as the market capitalisation of companies listed on the stock exchanges gets eroded overnight. If the revelations are indeed true then why are not the culprits arrested and put behind the bars?
The press should play a matured role and not just create sensationalism for publicity and TRP’s. Thousands of crores of public money is involved and sometimes the intentions too of some people are dubious as they want to play and make money on the stock exchanges on account of volatility which such revelations create.
The govt, stock exchanges, and the regulator should not allow people to make such revelations through press conferences if the claims made are not backed by valid documentation. Media is the watchdog of society but should behave in a matured manner safeguarding the interest of all!