Cong: EC suggestions on funding not practical

Congress pointed out that the ICAI standards are applicable to companies and not to political parties.

Written by Express News Service | New Delhi | Published:October 21, 2013 12:31 am

The Congress has rejected the suggestions made by the Election Commission to bring in transparency and accountability in funding and expenditure of political parties.

Responding to the poll panel’s letter to parties seeking suggestions on 10 points,which included a recommendation that parties should follow accounting methods in conformity with the standards issued by the Institute of Chartered Accountants of lndia,the Congress pointed out that the ICAI standards are applicable to companies and not to political parties.

Other recommendations included issuing receipts to those who donate money to the parties and depositing all donations or contributions in a bank within a reasonable time.

Rejecting the suggestion of the poll panel on issuance of receipts to all persons or companies making donations to it for elections,the Congress said the proposal was “neither practical nor possible”.

“It is neither practical nor possible in a fluid situation in the midst of an election campaign to issue receipts to each individual making such donations,” Congress treasurer Motilal Vora said in the response.

He also argued that political parties should be left to decide whether they want to deposit the funds in a bank or keep it in their office premises or use it for party purposes directly.

The party has also rejected suggestions that lump sum payment to candidates for meeting their election campaign expenses should be given only by crossed account payee cheque or draft or by RTGS or NEFT or Internet transfer and that a similar process should be followed for payments made by the party exceeding Rs 20,000 in a day.

“From a practical standpoint,it may not be possible that all election campaign expenses are disbursed only by crossed account payee cheques or draft or RTGS or NEFT or Internet transfer,” the party said.

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