Elections form the bedrock of the largest democracy in the world – India. Since Independence, as many as 15 Lok Sabhas have been formed through elections, the first one being held in 1951-52. Elections provide a way for people to assert their voice and opinion and choose the person whose priorities and ideas match with theirs the most. Elections in India are also a platform for the public to voice their resentment against a ruling party. By voting for other parties and helping elect a different government, citizens demonstrate that they possess ultimate authority. India has held 17 parliamentary elections till 2019. The 18th parliamentary election is scheduled for 2024. Elections are also held for the state assemblies. Elections have become expensive over the years. A report by the Center for Media Studies (CMS) has estimated the total expenditure on the general elections to be around sixty thousand crores (Center for Media Studies, 2019). The Government of India launched the scheme of Electoral Bonds to fund the engagement of political parties in elections. Besides violating the rights of voters, the scheme suffered from many serious flaws. It turned out to obliterate the fine distinction between the public and corporate finance. The Association for Democratic Reforms approached the Supreme Court of India to declare the scheme unconstitutional. Taking note of the serious flaws, the scheme was declared unconstitutional in March 2024 by the Supreme Court (SC)of India. The policymakers assert that the abolition of the Electoral Bond scheme is not in the national interest. The Review Petitions were filed in the SC (The Hindu, 2026). The SC refused to reconsider its decision, dismissing pleas that sought to revive or modify the scheme. As per the SC ruling, political parties can no longer receive anonymous corporate or individual donations via electoral bonds, and all contributions must follow existing disclosure norms under the Representation of the People Act and Income Tax laws. The ruling has reignited discussions on the need for transparent political financing, with experts calling for stronger disclosure mechanisms and caps on corporate donations. India now needs to reinvent the scheme, The Times of India (2024, April 16).