The Aryavarth Express
Agency(New Delhi): Prime Minister Narendra Modi has accused opposition parties of spreading falsehoods about the electoral bond scheme, which was recently overturned by the Supreme Court. In a decisive judgment on February 15, a five-judge Constitution bench declared the scheme allowing anonymous political donations unconstitutional and ordered the State Bank of India to release donor details to the Election Commission for public disclosure.
In an interview with ANI, Modi defended the intention behind the electoral bonds, stating they were designed to reduce black money in political funding by tracking donations. He acknowledged the scheme was not perfect and needed refinement, but emphasized its role in seeking transparency in political contributions. “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,” Modi explained.
He also provided statistics claiming that among the 16 companies that donated to political parties and had faced actions by central agencies, only 37% of the funds went to his party, the BJP, while 63% went to the opposition. Modi criticized the return to previous practices, predicting regret for abandoning the scheme, “When they will think honestly, everyone will regret it,” he remarked.
Additionally, Modi highlighted his government’s efforts to clean up political financing by lowering the cash donation limit to political parties from Rs 20,000 to Rs 2,500, moving away from “this cash business.” In response, the Congress party has called for a Supreme Court-monitored investigation into the scheme, accusing the BJP of legalizing “bribes” through electoral bonds.