Choose the given statement that is true/false.

Financial reforms in politics can be carried out by examining the accounts of political parties.

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True

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Detailed Solution

This statement is true.
The political system in our nation urgently needs to undergo a financial overhaul. It is because money-power affects our political system, which enhances problems like corruption, the rich-poor divide and socio-economic inequality. Economic reforms are more crucial than ever to address all of these problems. These reforms can be implemented by looking at the financial statements of political parties to gain an understanding of their liquid financial resources. The public should have access to their account information, and government auditors should review them carefully. The government should support elections and prevent the use of financial influence by political parties.

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