 "PM Modi during pre-poll interview with ANIT on April 15, 2024 (Photo: ANI)")
Prime Minister Narendra Modi defended the controversial electoral bonds scheme, accusing Opposition parties of spreading misinformation and asserting that the scheme had been implemented to tackle black money in elections. In an interview with news agency ANI, PM Modi expressed confidence that critics of the scheme would regret their stance upon "honest reflection".
Electoral bonds aimed to reduce black money in elections
PM Modi acknowledged the ongoing debate surrounding the electoral bonds scheme but maintained that it represented a step towards reducing the influence of black money in elections, contrary to claims made by Opposition leaders and critics.
"This is the success story of electoral bonds, there were electoral bonds, so you are getting a trail of which company gave, how it gave, where it gave. Whether what happened in the process was good or bad can be an issue of debate....I never say that there is no shortcoming in decision-making. We learn after discussing and improving. There is a lot of scope of improvement in this also. But today we have completely pushed the country towards black money, hence I say everyone will regret it. When they will think honestly, everyone will regret it," he said.
He also warned that scrapping it will push the country towards "black money" during elections.
Addressing concerns about the secrecy surrounding political donations, PM Modi further defended the use of electoral bonds, stating that they provided a mechanism to trace the flow of funds. He emphasised the importance of electoral bonds in enabling donors to contribute without fear of reprisal.
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"I remember in the 90s, Bharatiya Janata Party (BJP) faced a lot of problems; there was no money as we had this rule. Those wanting to give did not have courage to do so...I was aware of all this.... now see, if there was no electoral bond, which system has power to find out how the money came and where it went," he said.
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Demonetisation
The Prime Minister recounted the government's efforts to tackle black money, including the demonetisation of high-denomination currency notes and the reduction of cash donation limits to political parties.
"These notes [Rs 1,000 and Rs 2,000] were moved in large quantities during the elections. We took the step so that black money ends," PM Modi said.
He added that earlier political parties were allowed to accept cash donations of up to Rs 20,000 and he reduced this to Rs 2,500 to put an end to "this cash business".
"There has been a discussion in our country for a long time that black money is a dangerous game in elections. This discussion has been going on for a long time... how can our elections be free from this black money? How can there be transparency? There was a pure thought in my mind. We were looking for a way. We found a small way, we never claimed that this was the absolute way," the Prime Minister said.
Responding to ED raids on companies
Responding to allegations of wrongdoing, PM Modi highlighted the actions taken against companies involved in the scheme, including raids by probe agencies such as the Enforcement Directorate (ED).
Taking a jibe at the Opposition, he said that 3,000 companies had made donations through the scheme, of which 26 had faced action from probe agencies. Out of this, 16 companies had donated to BJP, which made up only 37 per cent of the total donation amount coming from all the companies that were probed. The remaining 63 per cent was directed towards Opposition parties.
"63 per cent of this amount went to the Opposition and you are making allegations against us. Their goal is to keep skirting around and run away," he asserted.
The Supreme Court struck down the electoral bond scheme in February, declaring it unconstitutional. Despite the court's decision, PM Modi reiterated his support for the scheme, emphasising its role in promoting transparency and accountability in political funding.
