On Friday, March 15, Home Minister Amit Shah advocated for reforming the electoral bond system instead of completely discarding it, emphasizing the need for improvements to enhance transparency and accountability in political funding. He respects the Supreme Court’s verdict but suggests that modifications could address existing concerns.
New Delhi: On Friday, March 15, Union Home Minister Amit Shah expressed his support for the Supreme Court’s order on electoral bonds, emphasizing the government’s initiative to cleanse political funding by reducing black money’s influence.
Shah pointed out a prevalent practice where only a fraction of the funds received would be officially declared, with the remainder being diverted for personal use.
“This system, predominantly upheld by the Congress for years, facilitated the pocketing of substantial amounts of political donations, undermining the essence of transparent funding,” Shah remarked.
Addressing allegations of the scheme disproportionately benefiting the Bharatiya Janata Party (BJP), Shah provided a breakdown of the electoral bond allocations, revealing that the BJP received Rs 6,000 crore out of a total of Rs 20,000 crore.
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Speaking at the India Today Conclave 2024, Shah said that he fears that black money will return with the scrapping of electoral bonds.
“Electoral Bonds was brought to end the domination of black money in Indian politics; it were brought to eradicate black money… Now the scheme has been scrapped, and I fear the return of black money,” Shah said.
The debate over electoral bonds has sparked controversy due to worries about secrecy and the possibility of hidden corporate donations influencing politics. Congress, argue that the system hides where political funding comes from, which goes against the democratic value of transparency.
He also emphasized the need for improvements in the electoral bond system rather than its complete elimination.
“I believe that rather than scrapping it, there should be reforms, but it does not hold any significance, as the apex court has given its verdict and I respect that,” he added.
The Minister also highlighted the transparency brought about by the electoral bonds scheme, pointing out that with its implementation, the transactions became transparent, with donations being recorded in the bank accounts of both the recipients and the contributors.
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Amit Shah addressed the notion that the BJP predominantly benefited from electoral bonds, attributing such claims to its governmental position.
“There is a perception that the BJP benefitted from the electoral bonds scheme because it is in power… Rahul Gandhi also said it is the biggest extortion racket in the world. Don’t know who writes these things for him… The BJP received around Rs 6,000 crore through electoral bonds. The total bonds (of all parties) amounted to Rs 20,000 crore. So where did the bond for the Rs 14,000 go?” Amit Shah said..
He further elaborated on the distribution of funds among opposition parties, highlighting a discrepancy relative to their representation in the Lok Sabha and their party size.
“Breaking it down, the Trinamool Congress benefited from bonds amounting to Rs 1,600 crore, the Congress got Rs 1,400 crore, the Bharat Rashtra Samithi received Rs 1,200 crore, the BJD got Rs 775 crore, and the DMK got Rs 649 crore. Reflecting on past practices, when donations were predominantly cash-based, the Congress would allocate a mere Rs 100 to the party’s account while diverting Rs 1,000 for personal use, a routine that persisted over years,” he stated.
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