Munde also openly dared the Election Commission to act against him for his remark and sought state funding of elections to check use of black money.
"I spent Rs 29,000 when I contested my first Assembly poll in 1980. But had to spend Rs eight crore for my last (2009 Lok Sabha) election," Munde, BJP's deputy leader in the Lok Sabha, said at a book release function yesterday in the presence of Gujarat Chief Minister Narendra Modi and former BJP chief Nitin Gadkari.
Munde said only state funding could check use of black money in the election process.
Munde asked Modi, BJP's newly appointed election campaign committee chief, to retrieve black money stashed away in banks abroad if he became the Prime Minister. "Then he need not levy Income Tax on the people for the next five years," he said.
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Reacting to the BJP leader's remarks, Maharashtra Home Minister R R Patil demanded that the poll panel take note of it and decide whether such candidates should be allowed to contest in future.
In a lighter vein, he went on to add," Munde should be congratulated as he spoke the truth."
The Union Law Ministry had in February 2011 raised the maximum limit on expenses that can be incurred by a candidate contesting Lok Sabha poll from Rs 25 lakh to Rs 40 lakh. Munde's admitted expenditure on his poll campaign is many times more than the permissible limit.