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					<title>Major players driving India’s green growth story spent millions in funding for political parties</title>
					<link>https://india.mongabay.com/2024/03/major-players-driving-indias-green-growth-story-spent-millions-in-funding-for-political-parties/</link>
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					<pubDate>29 Mar 2024 14:15:03 +0000</pubDate>
											<dc:creator>
							<![CDATA[Simrin Sirur]]>
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										<author>
						<![CDATA[Simrinsirur]]>
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							<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[electoral bonds]]></category>
		<category><![CDATA[Environmental Impact Assessment]]></category>
		<category><![CDATA[environmental law]]></category>
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							<![CDATA[India]]>
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							<![CDATA[Corruption, Environmental Law, Environmental Politics, Green Business, and Industry]]>
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							<![CDATA[In the years since it came to power in 2014, the Bharatiya Janata Party (BJP)-led central government has positioned itself as an advocate of green growth locally and globally. But recent revelations about political funding through electoral bonds cast doubt on these credentials. Newly released data from the Election Commission of India (ECI) shows big [&#8230;]]]>
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							<![CDATA[In the years since it came to power in 2014, the Bharatiya Janata Party (BJP)-led central government has positioned itself as an advocate of green growth locally and globally. But recent revelations about political funding through electoral bonds cast doubt on these credentials. Newly released data from the Election Commission of India (ECI) shows big players in India’s infrastructure development industry – from the energy to natural resource extraction businesses – paid millions in anonymous donations to political parties, of which the BJP emerged as the biggest beneficiary. Released on the orders of the Supreme Court, the State Bank of India (SBI) shared the information with ECI, which, for the first time, made public the data of purchasers and recipients of electoral bonds – a financial instrument that allowed political parties to receive unlimited sums of money while guaranteeing purchasers anonymity. The scheme had been in effect since 2018, till it was struck down by the apex court in February as being unconstitutional for its lack of transparency. The shadow of India’s development industry over the electoral bonds spotlights India’s weakening environmental regulations, particularly at a time when it seeks to transition its energy systems. Mining giants Vedanta and Essel Mining, that have a history in violating environmental norms, are among the top buyers of bonds, having purchased over Rs. 600 crore worth. “The presence of energy and mining companies in the electoral bond scheme reinforces the need to ramp up institutional and legal accountability measures in India’s environmental governance&hellip;This article was originally published on <a href="https://india.mongabay.com/2024/03/major-players-driving-indias-green-growth-story-spent-millions-in-funding-for-political-parties/" data-wpel-link="internal">Mongabay</a>]]>
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