It is not new when companies donate money to parties. But transformation of this idea is still not yet under way.
There could be a Private Consolidate Fund of India (PCFI) which can fund political parties (candidates) that link practical policies that have alternative option to poster the society.
In fact in the present funding system many people really do not know how much they spend on one non criminal candidate and a criminal candidate.
This PCFI could be an independent bank of charity to manage funds. It should never accept money from any form of Government.
According to Bibek many industrialist donated money to political parties. He writes in the Indian Express that:
- “The UTVI channel has used the RTI Act to collect data on income tax returns filed by political parties. The figures are sometimes for 2007-08, sometimes for 2008-09. So we know, the largest donors have been Aditya Birla group, Torrent Power, Videocon, Salgaonkar, Dempo, Chowgule, Charitable Trust, Jubilant Enpro, Kamaljit Singh Ahluwalia, Timblo, Prime Builders and Developers, Honda Siel, Trans Indian Freight Services and United Phosphorus.
- I am told some corporate boards insist donations should be evenly spread out, not necessarily equally, but perhaps in some proportion to seats in Parliament. But that’s not what this list shows. Aditya Birla prefers Congress, Kamaljit Singh Ahluwalia prefers BJP and Honda Siel prefers Samajwadi Party.”