If you are preparing for the UPSC exam, you must be aware of all the events and happenings that are going on in the country as well as the world. In any stage of the exam, you can get questions from these topics. It is always a smart idea to make notes of only the important points instead of noting down paragraphs.
We have written this article in a way in which you will be able to make notes easily for your UPSC preparation. With that being said, let’s focus on today’s topic: What is Electoral Bonds?
What are Electoral Bonds?
An electoral bond is a convertible note that can be purchased from specified State Bank of India offices by any Indian person or company formed in India. The citizen or business can subsequently donate the funds to any eligible political group of his or her choosing. The bonds are identical to bank notes in that they are non-interest bearing and receivable to the holder on demand. Individuals and groups would be able to purchase these bonds online or by cheque.
Electoral Bonds UPSC: Introduction
With the passage of the Finance Bill, electoral bonds were introduced in 2017. The Electoral Bond Scheme 2018 was announced by the Narendra Modi-led NDA govt on January 29, 2018.
How to Use Electoral Bonds?
Using electoral bonds is a simple task. Bonds in multiple sets of Rs 1,000, Rs 10,000, Rs 100,000, and Rs 1 crore will be released. These will be offered in a few SBI locations. A participant with a KYC compatible bank can purchase the bonds and donate them to any group or individual. The bonds can now be encashed by the receiver using the party’s real account. The electoral bond will only be effective for 15 days.
The 29 SBI branches listed are:
When are the Bonds Available for Purchase?
At the start of each quarter, the electoral bonds are purchasable for ten days. The government has designated the first ten days of January, April, July, and October for the buying of electoral bonds. In the year of the Lok Sabha elections, the government must specify an additional 30-day term.
Why were Electoral Bonds Introduced in India?
Electoral bonds, as per the Narendra Modi-led administration, were created to ensure that all contributions to a political party were reported for in the account balances without revealing donor information to the public.
Electoral bonds, according to the government, will keep an eye on the use of dark money to fund elections. The administration claims that without electoral bonds, donors will have little choice but to provide cash after syphoning money from their enterprises.
Why is There a Controversy Over Electoral Bonds?
Experts believe that if the electoral bonds programme was implemented to increase transparency, the government should not prevent information of such donations from being made public.
According to experts and politicians, because neither the buyer of the contract nor the political party collecting the donation is compelled to reveal the donor’s identity, a corporation’s owners will be uninformed of the company’s contribution. Voters will also be unaware of how and by whom a political party is supported.
Critics of the electoral bond concept believe that because the donor’s name is hidden, it could result in an infusion of illicit money. Others claim the technique was set up to allow large corporations to donate money without their identities being known. As per civil rights organisations, the concept of donor “anonymity” jeopardises democracy’s core ethos.
UPSC Preparations Tips
NCERTs from 8th to 12th classes are important information sources, especially for beginners. They are important not only because they receive direct questions, but also because they are quick but informative. So, to get a good grasp of each subject, start by reading and reviewing NCERTs.
The Hindu and The Indian Express are two excellent newspapers to read on a daily basis! It will help you stay up to date on current events while also helping you improve your reading, composition, and comprehension skills. As a result, remember to read the newspapers.
Monthly publications like Kurukshetra and Yojna, for instance, must be on your reading material. Even though you don’t have time to actually read it from beginning to end, skim through the analysis or overview to guarantee you don’t miss any important items!
Read Standard Books
Make sure you’re not adding to the amount of resources; instead, focus on editing a single resource several times. When studying Geography, it is necessary to look at maps.
Maps are another important and scoring element when it relates to IAS preparation. There are map-based questions in both the Prelims and Mains. As a result, remember to bring maps on your UPSC Preparation road.
Understand the Union Budget
Annually, the UPSC Prelims are conducted in the final week of May or the first week of June. Preliminary tests always include questions about the economy, which is published in February. You can use the samples in your Mains answers to help them appear more informative and relevant if you have a good understanding of the budget.
Start Preparing for CSAT
Although the CSAT is a competitive exam, don’t take it lightly. To be qualified for the Mains, you must have a CSAT score of more than 33% or 66 points. As a result, continue to prepare for the CSAT while doing so.
Apart from that, answer-writing practice and revision are two important foundations of UPSC preparation. No UPSC preparation strategy is effective without mock-test-based study and answer-writing exercise.
Know About UPSC Notifications
Every year, the UPSC sends out announcements detailing all aspects of the exam, including the examination fee, important dates, structure, timetable, comprehensive curriculum, and more.
The UPSC publishes notification for the CSE a year ahead of schedule so that aspirants can begin planning ahead of time and make sure that they have adequate time to make up the UPSC Syllabus.
Before starting their preparation, the most important thing for each IAS applicant to learn is how to choose the right sources. Candidates must hand pick books to prepare for the UPSC test because most IAS gurus encourage applicants to focus on a few crucial books instead of reading a big number of books.
In both the exam and the interview, you could be questioned about any topic. As a result, you should be well prepared ahead of time in order to precisely answer the questions and secure a spot on the top list.
You can visit the UPSC Pathshala portal if you want to be a civil servant. All of the gurus advise aspirants on how to perform at their utmost in the exam. Also, the articles on many topics and fields can help you a lot with your UPSC notes.
Besides the notes, you may find timetable suggestions, toppers’ biographies, preparation strategies, and anything else relating to this prestigious exam. So, if you want to attain your goal, this is the place for you.