Thursday called for open and transparent funding of political parties to battle political corruption.
Democratic polity needs funds.
The question is how to make it legitimate. CII president-designate Sanjiv Goenka said there was no reason why business funding of Indian parties must be underhand. In the U.S., it's no secret who funds Hillary Clinton or George Bush. Arun Bharat Ram wanted tax exemptions for corporate houses funding political parties. But he rejected calls to increase the money a candidate fighting parliamentary elections should deposit with the Election Commission from Rs.10,000 to do away with frivolous candidates.