Daijiworld Media Network - New Delhi
New Delhi, Mar 27: Esteemed economist Parakala Prabhakar has highlighted the significant impact of the "electoral bond issue" on the ruling Bharatiya Janata Party (BJP). Prabhakar, spouse of Union Finance Minister Nirmala Sitharaman, shared his views with news channel Reporter TV, stating, "The electoral bond issue will gather much more momentum than it has today. Everyone is now realizing that it is not only the biggest scam in India but also the biggest scam in the world. Due to this issue, the government will face severe repercussions from the electorate."
As per data available on the official website of the Election Commission of India, the BJP has been the primary beneficiary of electoral bonds.
Between April 12, 2019, and February 15, 2024, the BJP received the highest funds via electoral bonds, totaling Rs 6,986.5 crore. It was followed by West Bengal's ruling party Trinamool Congress (Rs 1,397 crore), Congress (Rs 1,334 crore), and Bharat Rashtra Samithi (Rs 1,322 crore).
In a ruling issued in February, the Supreme Court struck down the Prime Minister Narendra Modi-led Centre's Electoral Bond Scheme, which permitted anonymous funding to political parties. The court ordered the State Bank of India to cease issuing electoral bonds immediately.
According to civil society activists, 41 companies under investigation by the CBI, ED, and the income tax department contributed Rs 2,471 crore to the BJP through electoral bonds. Of this amount, Rs 1,698 crore was donated after raids by these agencies.
"Future Gaming donated Rs 60 crore to the BJP within three months of raids conducted by the I-T and ED on November 12, 2023, and December 1, 2021, respectively. Aurobindo Pharma contributed Rs 5 crore to the BJP within three months of the ED raid on November 10, 2022," stated senior advocate Prashant Bhushan last week.
Following these revelations, opposition parties have criticized electoral bonds as legalized corruption, while the BJP has argued that abolishing the bonds could lead to the resurgence of black money in politics.