Financial support to political parties has a chequered history in India. The striking down of electoral bonds scheme by Supreme Court is opportunity to rethink the framework regulating corporate contributions in our political process. Before this, taking stock of developments over the last 75 years is helpful.

Old dilemma | Elections require considerable resources. With rising electoral expenditure that parties could not meet through individual contributions and subscriptions, the issue of companies donating to parties arose in Parliament in 1959. GOI proposed Companies Act be amended to provide the mechanism and a limit (₹25,000) for companies to donate.

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