Narendra Modi emphatically rejected the suggestion that the issue of electoral bonds caused a setback to his government.
He further said it is due to the electoral bond system that the sources and beneficiaries of political funding could be found out
Prime Minister Narendra Modi on Sunday said the opposition parties that are regaling over the issue of the electoral bonds data are going to repent. He further said that no system is perfect and any shortcoming can be addressed.
Opposition parties including the grand old Congress have cited revelations following the Supreme Court order of February this year, which termed the now-defunct system of political funding as unconstitutional, to attack the Centre.
Modi emphatically rejected the suggestion that the issue of electoral bonds caused a setback to his government. “Tell me what have we have done that I should see it as a setback? I firmly believe that those dancing over it (bond details) and taking pride in it are going to repent,” the Prime Minister told Thanthi TV in an interview.
He further said it is due to the electoral bond system that the sources and beneficiaries of political funding could be found out. Explaining further, the Prime Minister said if a trail is available today, it is due to the presence of electoral bonds.
During the interview, he further asked can someone tell how much these companies paid to political parties before the NDA government came to power in 2014. “Can someone tell me how much these companies paid to political parties before 2014? Nothing is perfect, imperfections can be addressed,” the Prime Minister said.
Congress attacks BJP on electoral bonds
Meanwhile, Congress leader Gaurav Gogoi attacked PM Modi over the now-defunct system of political funding. Calling it “legalised extortion,” Gogoi said that the scheme has formalised kickbacks and has been designed like demonetisation by the Prime Minister’s Office.
Gogoi also claimed that Modi probably has a major corporate ally who is giving bad advice to him. He further said that even senior bureaucrats are scared to speak their minds, while adding India is “on its path to becoming an Asian autocracy.”
Delhi minister Atishi said that the BJP should earmark the money it has received via electoral bonds for charity and public welfare. She added that the saffron party needs to say that they will not use this money for election campaigning.
Atishi said: “The most money from companies accused of money laundering has come to BJP in the form of donations through electoral bonds. The Prime Minister said that to distribute this money collected by the Enforcement Directorate (ED), it will have to make a law. But if you want to distribute or use the money received from these 41 companies accused of money laundering who were raided by I-T, CBI and ED, for public interest, then BJP doesn’t need to make any law. BJP is the biggest beneficiary of this laundered money to the tune of Rs 2,471 crore. BJP needs to say that they will not use this money in campaigning.”
Electoral bonds data, top donors
The electoral bonds scheme, brought in by the BJP-led Central government, was scrapped and declared unconstitutional by the Supreme Court in February 2024. This scheme was brought in to allow people to make donations to political parties while maintaining anonymity.
After the Supreme Court order, the Election Commission of India (ECI) has brought all information on electoral bonds in public domain. As per this data, many firms embroiled in criminal cases were among the big buyers of these bonds.
Top individual donors included ArcelorMittal chairperson Lakshmi Mittal (Rs 35 crore) and Group Controller of Reliance Industries Laxmi Das Vallabhdas Merchant (Rs 25 crore), both of whom donated the entire bond amount to the BJP.
Other individual donors who donated only to the BJP are KR Raja JT, Polycab India chairperson and managing director Inder Thakurdas Jaisinghani, Rahul Jagannath Joshi and his son Harmesh Rahul Joshi, Raju Kumar Sharma, Saurabh Gupta and Anita Hemant Shah, as per the ECI data.
The Joshi father-son duo are directors on the boards of many freight companies. Biocon’s Kiran Mazumdar Shaw donated Rs 6 crore– Rs 4 crore to the BJP and Rs 1 crore each to the Janata Dal (Secular) and Congress.
