Electoral bonds: SC verdict will set level playing field, cheers Opposition

Electoral bonds: The Supreme Court delivered a landmark judgement on Thursday, annulling the electoral bonds scheme for political funding

The opposition parties, on Thursday, hailed the Supreme Court verdict striking down electoral bonds as unconstitutional and said the effort will bring more transparency in election funding.

The top court delivered a landmark judgement earlier today, annulling the electoral bonds scheme for political funding. It said the scheme violates the Constitutional right to freedom of speech and expression as well as the right to information.

The scheme is used for making political donations and was first introduced in the Union Budget 2017-18. Facilitating anonymous donations, the scheme has been long criticised by activists and opposition parties for distorting a level playing field for the political parties and has been cited as a threat to democracy.

 

According to the data available, the ruling Bharatiya Janata Party has been the biggest beneficiary of the scheme and cornered over Rs 5,000 crore of the total Rs 9,208 crore bonds sold till 2022. The Congress stood second on the list but received merely one-fifth of the BJP's share at Rs 952 crore contribution via the bonds till 2022.

Notably, the Congress party, in their 2019 Lok Sabha election manifesto, had promised to scrap the "dubious" scheme.

Here is how leaders reacted to the SC verdict:

Congress party chief Mallikarjun Kharge: "…We welcome the decision of the Supreme Court today, which has struck down this 'Black Money Conversion' scheme of the Modi Govt, calling it "unconstitutional". We remember how the Modi Govt, PMO and FM bulldozed every institution - RBI, Election Commission, Parliament and Opposition to fill BJP's coffers. No wonder, 95 per cent of the funding under this scheme was received by BJP. We hope that the Modi Govt will stop resorting to such mischievous ideas in future and listen to the Supreme Court, so that Democracy, Transparency and level-playing field persists."

AICC General Secretary Randeep Singh Surjewala: "We welcome the Supreme Court's historic decision. It was the BJP's scheme to turn the black money into white, which has now been rejected."

Karnataka Deputy CM DK Shivakumar: "We fully salute them (Supreme Court) for their brave decision. I think the country needs such a change."

Situation will change for Opposition 

Former Uttarakhand CM Harish Rawat: "There was a lack of transparency and the Opposition was completely in a disadvantageous position. Now, the situation will change."

Aam Aadmi Party minister Gopal Rai: "The government is influencing people in one way or another with the help of electoral bonds. I believe that the decision taken by the Supreme Court will bring transparency in elections."

Delhi minister Atishi: "We welcome the decision on Electoral Bonds. This is a big step in ensuring transparency in election funding."

CPI(M) General Secretary Sitaram Yechury: "We never accepted Electoral bonds. We always maintained and even now maintain that the 'Electoral Bonds' was the legalisation of political corruption."

BJP biggest beneficiary, this has huge implications - Sibal 

Rajya Sabha MP Kapil Sibal: "The consequences of that (SC judgement) are mind-boggling for the simple reason that all the money that political parties have received and amongst political parties the BJP has received the maximum amount of money...obviously, since the scheme has been struck down...it has huge implications."

Common man's faith restored - Stalin

Tamil Nadu CM MK Stalin: "The Hon'ble Supreme Court has rightly held that the #ElectoralBonds are unconstitutional. This will ensure a transparent electoral process and the integrity of the system. This judgement has restored democracy and a level playing field for all political parties. It has also ensured the common man's faith in the system."

Trinamool Congress party spokesperson Saket Gokhale: "The Supreme Court's verdict striking down electoral bonds is possibly the most historic judgement and intervention in the last five years. EC will now have to publish the list of all electoral bond donors and parties they donated to by mid-March. Most important to watch - how many of the donors who gave electoral bonds to the BJP are individuals & companies facing ED & CBI action.

Will study the verdict: BJP

BJP leader Mukhtar Abbas Naqvi: "Whatever verdict has come, the government will study it and do what is in the interest of the country."

Meanwhile, BJP spokesperson Nalin Kohli alleged that the Opposition is politicising the issue and claimed that it does not have any alternative to Prime Minister Narendra Modi and the work done by his government.