ECI launches online portal for parties to file financial statements
The Election Commission of India (ECI) on Monday launched a web portal for political parties to file financial statements online. It said the parties could submit their contribution reports and poll expenditure accounts without any hassle. The commission said in a letter to political parties that the online availability of the data is expected to enhance the level of compliance and transparency.
Why does this story matter?
Every political party is bound to disclose its financial accounts, transactions, and donations under the Representation of the People Act, 1951. Under the existing system, the parties were mandated to provide their "financial position" and "financial performance" through hard copies to the ECI. The documents would indicate their abilities and efficiency, but it was reportedly a cumbersome process.
ECI move part of '3C strategy'—clean-up, crackdown, compliance
The ECI's latest move is part of its "3C strategy," which includes "clean-up, crackdown, and compliance" to strengthen transparency and accountability in political finance and expenditure. Officials claimed that any political party that does not want to submit reports online must provide the commission with a justification, which will be published on the ECI website for the benefit of voters.
Motive of portal is to ease filing, ensure standard format
The step has been taken with twin objectives; to overcome difficulties in filing physical reports, and to ensure timely filing in a standardized format, said the commission. Financial statements are required to be submitted by political parties to the ECI or chief electoral officers of States/Union Territories, as per the Representation of People's Act, 1951, and other guidelines issued over the last many years.
