Donations above Rs 2,000 to political parties to be made through cheques, digital mode: FM

New Delhi: In a step to bring transparency in political funding, Finance Minister Arun Jaitley today announced that maximum amount of cash donation that can be received by political parties is Rs 2,000. Presenting the Union Budget for 2017-18 in the Lok Sabha, Mr Jaitley said, 'Parties continue to receive anonymous donations.

To bring transparency in political funding, I propose a system of cleaning up wherein the maximum amount of cash donation that can be received by political parties is Rs 2000.' The Finance Minister said political parties can receive donations in cheque, electronic mode, electoral bonds, which would be issued by the Reserve Bank of India.

He said amendment have been proposed to the RBI Act to issue electoral bonds. adding that the amendments would ensure that every party has to file returns within specified time. In recent years, there has been an increasing call to check the rising menace of black money in the funding of political parties. (UNI)