Prime Minister Narendra Modi accused opposition parties of spreading falsehoods about the electoral bond scheme, asserting it as a landmark success in India's fight against black money. In an exclusive interview with ANI, PM Modi emphasized that the primary goal of electoral bonds was to eradicate illegal funds from elections despite resistance from the opposition.
Discussing India's long-standing challenge of electoral corruption, PM Modi stated, 'Our nation has debated for years the ominous role of black money in our elections. It was essential to act toward liberating our elections from this scourge. As elections incur expenses and require funds, I was determined to devise a method to detach our elections from these illicit funds. My vision was pure and earnest. We sought pathways and, through rigorous parliamentary debates, we finally found one.'
PM Modi on the Success of Electoral Bonds
'We took measures like discontinuing the 1000 and 2000 rupee notes, directly tackling the black money issue. The Supreme Court allowed political parties to accept cash up to 20,000 rupees. I revised the rule, reducing the amount to 2,500 rupees, followed by introducing electoral bonds to preserve party donor anonymity... Our previous BJP policy mandated accepting funds through cheques only. Businesspersons retorted that cheque donations were not feasible. Cheques meant recording transactions, which could invite governmental scrutiny and potential harassment for supporting the opposition. Though willing to donate, they refused cheques,' explained PM Modi.
'Electoral Bonds Narrate a Tale of Success'
PM Modi recalled struggles in the 90s: 'We faced dire financial constraints during elections, strictly adhering to cheque donations. With full awareness of these impediments, I question – without electoral bonds, what system possesses the ability to meticulously trace the source and destination of political funding? The story of success is that the electoral bonds provided a money trail.'
'Reflecting Honestly Will Bring Regret'
'I never claimed our decisions were flawless, but today the nation has been pushed toward black money. Upon honest reflection, everyone will regret. The deception being spread is worrisome. About 3,000 companies have donated through electoral bonds. Actions were taken against 26, and of those, 16 companies were raided at the time when bonds were purchased... These figures are often misconstrued: 37% of bonds purchased by those 16 companies went to donations for BJP, while the opposition received 63%. It's surprising – the bulk goes to the opposition, yet the allegations target us. However, their strategy is to obfuscate and flee,' said PM Modi.
