"Election Commission has already said about the seizure of cash during the (just-concluded) Assembly elections. The Modi government has said it would begin a crusade against black money, but in the last three years, the trend has been in the opposite direction," he said.
The CPI(M) Politburo member was addressing a gathering at the Jantar Mantar here during a protest rally - 'Bhrastachar Se Azaadi' -- jointly organised by several activist groups, including Anti-corruption Team (Swaraj Abhiyan), National Alliance for People's Movement, SFI, CITU and AIDWA.
The CPI(M) leader also alleged that a new law was being worked out, which once implemented, will allow foreign entities to offer election bonds to political parties without disclosure of their identity.
The Election Commission yesterday said that cash seizure in the Assembly elections in five states has seen a 263 per cent rise as compared to the 2012 polls.
"We all know the black money seized during UP polls...So, one can see what has happened since the new government took over at the Centre," Karat said.