With Lok Sabha polls set to begin in a fortnight at least 14 electoral trusts have been set up by various business houses, including by giants like Tatas, Reliance, Mahindras and Bajajs, for contributing funds to various political parties.PTI reports that according to data available with the Corporate Affairs Ministry, at least 14 electoral trusts have been registered. Many other corporates have initiated process to set up such entities before polls start for electing the 16th Lok Sabha.Although business houses have been funding political parties, the idea of non profit trust is aimed at streamlining the process as well as to usher in more transparency.
News On AIR | March 24, 2014 10:52 AM
Business houses set up 14 electoral trusts for funding political parties