Why did the Supreme Court invalidate electoral bonds?

The Supreme Court has declared the Electoral Bonds Scheme as unconstitutional. In a landmark unanimous judgment, the Supreme Court on Thursday (15.02.2024) struck down as “unconstitutional and manifestly arbitrary” the electoral bonds scheme, which provides blanket anonymity to political donors, as well as critical legal amendments allowing rich corporations to make unlimited political donations.

A five-judge Bench headed by Chief Justice of India D.Y. Chandrachud held that the Union government’s scheme, and preceding amendments made to the Representation of the People Act, the Companies Act, and the Income Tax Act, violated the voters’ right to information about political funding under Article 19(1)(a) of the Constitution.

The lead opinion authored by Chief Justice Chandrachud said that the absolute non-disclosure of the source of political funding through electoral bonds promoted corruption, and a culture of quid pro quo with the ruling party to introduce a policy change or for bagging a license. The scheme and the amendments authorized “unrestrained influence of corporates in the electoral process”, it said.

Donor anonymity was the main feature of the scheme, which has been criticised for long by transparency activists. These bonds constituted an important means of funding political parties since 2018. The court found that the scheme violated the citizens’ right to information about the sources of finances raised by political parties. It directed the full disclosure of all details of contributors, recipient parties and denominations.

(An electoral bond is in the nature of a promissory note which shall be a bearer banking instrument that does not carry the name of the buyer or payee. Any citizen or company could buy these bonds in denominations of ₹1,000, ₹10,000, ₹1 lakh, ₹10 lakh, and ₹1 crore and donate it to a political party. It can be encashed only through a bank account with an authorized bank. The State Bank of India was the bank authorized to issue and encash these bonds.)

Farmers protest in India: Centre rules out MSP law; talks with farmers resume.

Farmers, police clash at various points on Haryana-Punjab border; Delhi under tight security net; SKM urges Prime Minister Modi to intervene and stop using force against farmers

As the protests by farmers belonging to the Samyukt Kisan Morcha – Non-Political (SKM-NP), a splinter group of the Samyukt Kisan Morcha (SKM), and the Kisan Mazdoor Morcha (KMM) escalated into a full-blown conflict with the security forces at various points on the Haryana-Punjab border on Tuesday, the Centre yet again made it clear that announcing a guaranteed minimum support price (MSP), the key demand of the farmers, will not be possible. The government, however, offered for talks with the leaders of the groups. Police personnel fire tear gas canisters at the protesting farmers at Shambhu Barrier in Punjab.

Farmers protest | Updates

The Opposition jumped into the scene and the Congress said it would implement a guaranteed MSP if it came to power. Constituents of the original SKM, meanwhile, urged Prime Minister Narendra Modi to intervene and stop using force against the farmers and asked the SKM-NP to stop fighting separately and support the rural and industrial strike of February 16.

SKM writes to PM ahead of Gramin Bharat Bandh, slams govt action of 'Dilli Chalo' protest. Union Agriculture Minister Arjun Munda and Information and Broadcasting Minister Anurag Thakur asked the farmers to be vary of “disruptive elements” in their movement. Mr. Munda categorically told the media that on a law for guaranteed MSP, the Centre had to look at all sides of it. Mr. Thakur said protesters needed to understand that by continuously adding new issues to the discussion, a resolution could not be achieved immediately.

Farmers have been invited for yet another round of dialogue, which is likely to be held on Sunday (18.02.2024). The discussions, led by Mr. Munda and Minister Piyush Goyal, had collapsed. “We are not averse to discussions. Will wait for the outcome of it and if it fails, farmers will breach the blockades and will start marching to Delhi,” said K.V. Biju, a senior leader of SKM-NP. He said more than 60 farmers were injured in the lathi charge and firing of rubber bullets and tear gas shells on them by the police.

Heavily barricaded

Meanwhile, in anticipation of the march, borders across the capital remained heavily barricaded and under a blanket of security. More than 100 barricades with barbed wires were set up between a seven km stretch on the Singhu border, in Kundli in Haryana. Teams of the Delhi Police and CAPF, RAPF were also deployed strategically at all points along with anti-riot gears. Some entry and exit gates of select Metro stations near important installations, including Parliament, have been shut as prohibitory orders remain in force. They were later opened by Tuesday night.

Heavy police deployment was also witnessed on Delhi’s borders with Uttar Pradesh. The Delhi-Noida direct flyaway, Ghazipur border and other prominent locations were under scrutiny. Movement for ambulances and other emergency vehicles was also made difficult despite the police’s attempts to ensure smooth traffic flow at these borders. Keeping security concerns, Archaeological Survey of India officials said the Red Fort complex had been shut down for visitors, especially considering the last time when many protesting farmers had entered the central part of Delhi on January 26 in 2021.

KMM coordinator Sarwan Singh Pandher hit out at the Centre for attacking the farmers and farm labourers marching towards Delhi. Mr. Pandher said the farmers responded to the force by hurling stones. Jagjit Singh Dallewal, another farmer leader, said that around 60 young farmers were injured in the police action.

In an appeal to SKM-NP, the original SKM said various Kisan organisations and platforms are fighting on the same and common demands. Hence, all the like-minded organisations should make an effort to build a common and united struggle on these issues.

  

Highlights of Interim Budget for the FY 2024-25 by Finance Minister Nirmala Sitharaman

• No Changes in Income Tax Slabs. No Change in Tax rates for Company, LLP or any other person
• Some Exemption to Startups and Extend some concession - extension of tax sops for sovereign wealth funds and startups to March 2025
• Tax payers service - Withdrawal of direct tax demands of period upto ₹25000 for period upto 2009-10 and ₹10000 for period upto 2014-15, 1 Crore people will benefit
• 40,000 normal railway bogies will be converted to vande Bharat standards
• 1-lakh crore corpus will be made available with 50 year interest free (long-term financing or refinancing) to encourage the private sector to scale up R&D. Corpus of 1 Lakh Crore for Reduced Rate Loans to Private Sector for Research in Sunrise Domains.
• Rooftop solarisation and free electricity Through rooftop solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month. This scheme follows resolve of Prime Minister, on the historic day of consecration of Ram Mandir in Ayodhya.Garib, Mahila, Annadata and Yuva will be focus groups
• Worries about food have been eliminated with free rations for 80 crore people.25 crores Indians were pulled out of multi dimensional poverty by the govt over past 10 yrs.
• Govt could save 2.7-lakh crore through avoidance of leakages. Electronic agri Mandi has connected 1051 mandis, transacting ₹2-lakh crore
• Minimum support prices for ‘Annadata’ (farmers) increased periodically
• Female enrolment in higher education has gone up by 28 per cent in 10 year
• Avg real income has increased by 50 per cent
• Every year under PM Kisan Samman Yojana, Direct financial assistance is provided to 11.8 crore farmers, including marginal and small farmers.PM SVANIDHI has provided credit assistance to 78 lakh street vendors, from that total, 2.3 lakh have received credit for the third time.PM JANMAN Yojana reaches out Particularly Vulnerable Tribal Groups.PM Vishakarma Yojana provides end to end support to artisans and craftspeople. Scheme for empowerment of Divyang and transgender people..PM Mudra Yojana has sanctioned 43 crore loans amounting to Rs. 22.5 lakh crore for entrepreneurial aspirations of our youth. Fund of Funds, Startup India and Startup Credit Guarantee Schemes are assisting the youths of the country.
• The National Education Policy 2020 is ushering transformational reforms.PM Shri is delivering quality teaching. Skill India Mission has trained 1.4 crore youth, upskilled and reskillled 54 lakh youth and established 3,000 new ITIs.Large no. of institutions of higher learning namely 7 IITs, 16 IIITs, 7 IIMs, 15 AIIMSs and 390 universities have been set up
• The country received its highest ever medal tally in Asian Games and Asian Para Games in 2023
• The earlier approach of tackling poverty resulted in very modest outcomes When the poor became empowered partners in development process, government's power to assist them increases manifold. In the last 10 years, the government has assisted 25 crore people to get freedom from multidimensional poverty.2cr more houses will be built under PM Awas Yojana Gramin 1cr houses will be taken to rooftop solar units to generate free electricity. Housing for Middle Class, Govt will launch a new scheme to buy and build their own houses
• Making Triple Talaq illegal, one third women's reservation in Lok Sabha and state assemblies, giving over 70% houses under PM Awas Yojana in rural areas to women as sole or joint owners have enhanced their dignity. Empowerment of Women through entrepreneurship, ease of living and dignity has gained momentum in last 10 years.30 crore MUDRA Yojana loans have been given to woman entrepreneurs. Female enrollment in higher education has gone up by 28% in 10 years.In STEM courses, girls and women constitute 43% of enrollment, one of the highest in the world. All these are getting reflected in increasing participation of women in workforce
• Besides delivering on high growth, the government is equally focussed on a more comprehensive GDP - I.e., Governance, Development and Performance.Ayushman Bharat scheme cover will be extended to all Asha, Anganwari worker and helpers.
• To ensure housing for middle class, the government will launch a scheme for middle class.This is to help them to buy or build their own houses for those living in slums, chawls or rented houses, she added.
• A committee to set up more medical colleges, free cervical Cancer vaccines for girls from 9-14 years
• Nano DAP on various crops will be expanded in all agro-climatic zones
• GST has enabled One Nation One Market One Tax
• GIFT IFSC and Unified Regulatory Authority IFSCA are creating a robust gateway for global capital and financial resources
• Proactive inflation management has helped keep inflation within the policy band
• Matsya Sampada Yojana to be expanded to generate more employment, increase earnings
• Despite the challenges due to COVID, implementation of PM Awas Yojana Rural continued and we are close to achieving the target of 3 crore houses. 2 crore more houses will be taken up in the next 5 years
• India U.S. Europe sponsored Middle East- Europe corridor: potential gateway for world trade for 100s of years.
• India assumed G20 Presidency during very difficult times, global economy was going through high inflation, low growth, high interest rates, very high public debt, low trade growth and climate changes
• Pandemic has led to a crisis of food, fertilizer, fuel and finances while India successfully navigated its way and showed the world the way forward
• India built consensus on global problems, the recently announced India Middle East Europe Economic Corridor is a strategic and economic game changer for India and others
• overnment is ready to assist states in faster development of aspirational districts and blocks Government will pay utmost attention to make eastern region and its people a powerful driver of India's growth
• Charging of electric vehicles Entrepreneurship opportunities to a large number of vendors for supply and installation, employment opportunities for youth with technical skills in manufacturing, installation and maintenance
• Rooftop solarisation and free electricity. Through rooftop solarisation, 1 crore households will be enabled to obtain up to 300 units of free electricity every month
• FDI inflows stand at $596 billion, twice more than 2014-15
• The govt will form a high powered committee to address the concerns of fast population growth and demographic change
• Fisheries scheme to help reach the target of INR 1 lakh crore exports
• Fiscal deficit for FY 24 revised at 5.8%. lower than earlier estimate of 5.9% in BE
• FDI is 'First Develop India. FDI inflow during 2014 to 2023 was Rs 596 billion US dollars, marking a golden era. This was twice the FDI inflow between 2005 to 2014. For sustained FDI, we are negotiating bilateral investment treaties with foreign partners
• Revised fiscal deficit estimated for FY24 has been pegged at 5.8% of GDP and the deficit for FY25 is pegged at 5.1%
• To address fervor for domestic tourism, projects for port connectivity, tourism infra & amenities will be taken on our islands including Lakshadweep. Government will further promote private and public investment in post harvest activities including aggregation, modern storage, supply chains, primary and secondary processing, marketing and branding. After successful adoption of Nano urea,
• Nano DAP application on various crops will be expanded in all agro climatic zones. Electronic National Agricultural Market has integrated 1,361 mandis and is providing services to 1.8 crore farmers with trading volume of 3 lakh crores of rupees. The sector is poised for inclusive, balanced and higher growth and productivity.

ENDEARING AN ORGANISATION TO ITS EMPLOYEES

I was prompted to write down the following due to certain issues that came up for discussion among my friends in the Banking fraternity. These things came up with regard to the present scenario after large scale mergers/takeovers that took place in the Banking and various other sectors/industries.

Every Organisation is establised with certain defined objectives. The management tries to fulfil these objectives by deploying the assets at its disposal.

One of the important assets at the disposal of the management is the Human Assets (HA) or the workforce of the organisation. For making the HA deliver the optimum output, the organisation has to evolve itself as an excellent entity to work for.

An attempt is made here to list out some of the measures which will make an organisation a great place to work.

1. Facilitate an encouraging work environment which values, recognizes and rewards qualitative performance.

2. Invest in ongoing training with an eye on enhancing knowledge, upskilling, developing sense of belongingness and loyalty to the organisation and improved performance with passion.

3. Facilitate blending of experience of senior staff with the knowledge of younger employees.

4. Keep in place a well defined and encouraging career path.

5. Keep in place a channel for Employees' Suggestions and reward those who make valuable contributions suitably.

6. Ensure work - life balance.

These steps will definitely make an organisation a great place to work, if not, the employees feel left out and stressed which directly affects the productivity and loyalty of them.

STRESS MANAGEMENT—IT IS THE ATTITUDE AND PREPAREDNESS

Dr. Albert Ellis, an American psychologist who in 1955 developed rational emotive Behaviour therapy stated that:

“People and things do not upset us, rather we upset ourselves by believing that they can upset us”

Yes this is one reason which leads us to stress. Different situations which they face for survival by each human being in their lives are to be managed. Here comes one’s attitude and beliefs, these two things determine how one behaves. This may be influenced by internal thinking, external circumstances which lead to management by self to survive different situations as mentioned above.

As we know the body is gifted to serve others. Here different situations are faced by the body (which includes internal self and systems) to survive the demand made on it. Body responds to the increase in demand by more physical, mental and chemical variations in it. This change affects the attitude and behaviour. This influence is by the nervous system which allows the human beings to think—the pressure is generated through increased demand which produces stress hormones by pituitary and adrenal glands regrouping the body to face the demand.

Richard S Lazarus, a renowned psychologist of 20^th century stated that stress as a result from an imbalance between demands and resources.

If we think from the angle of a service provider or a manager—he has to face agitated customers, shortage of staff /resources, his authorities for not reaching the allotted targets even after putting in his best efforts etc etc. he cannot explode nor express his emotions and therefore the stress situations keep on repeating day by day, breaking down his adaptability capacity forcing him to breakdown. This affects his health leading to increased blood pressure, palpitation, sleep disorders, insomnia, heart diseases, stomach problems etc

To cope up with stress is to manage it properly. Stress is that one occurring when pressure exceeds one’s ability to cope. We cannot avoid stress altogether in life. One have to live with it. One should not ruin life by ignoring it and this is where management comes. Without stress, what is life? Life is a Snakes and Ladders game. Snakes are the risks and ladders are the opportunities in life. We need to play it and move forward. Shocks in life leads to stress, overcoming it is management. One needs to be resilient to adapt to these conditions. Always try to be the right person for the situation demanded and adapt to the circumstances, enjoy it and use it to one’s advantage. Learn to prioritise and do what you love. It is the technique one can use to relax and this will definitely lessen the stress level. Physical exercise is another way to counter stress like yoga, exercises etc. Be positive and cheerful in attitude so that negative thoughts are driven away. These are the healthy ways to deal with stress.

Many people resort to unhealthy ways to deal with stress like drinking, smoking, drugs etc which will lead to more harmful things like addiction rather than lessening the level of stress.

To conclude, don’t ignore stress but tune your belief system to interpret and judge things positively avoiding negative thoughts. This allows a positive behavioural pattern, preparedness and expectations which gives a solution for stress management.