Electoral bonds scheme one of the most diabolical acts of Modi govt: Congress

PTI, Sep 26, 2023, 7:18 PM IST

New Delhi: The Congress alleged on Tuesday that the electoral bonds scheme is one of the most diabolical acts of the Narendra Modi government as it undermines the electoral system and democracy in the country.

Congress general secretary, communications, Jairam Ramesh said the electoral bonds scheme, which former Reserve Bank of India (RBI) governor Urjit Patel had opposed, is not only a method to convert black money into white, but also ensures a financial hold of the ruling BJP over political donations made by business houses.

This, he said, is leading to economic and political concentration of wealth.

“It was not unknown that Dr Urjit Patel as the Governor of the RBI had opposed the electoral bonds scheme of the Modi government. Now the memoir of the-then Finance Secretary confirms that Dr Patel insisted electoral bonds should only be issued by the RBI and that too in digital mode — ensuring transparency,” Ramesh said on X.

“Dr Patel was absolutely right! The electoral bonds scheme is one of the most diabolical acts of the Modi government undermining our electoral system and democracy. It is not only a method to convert black money into white overwhelmingly in favour of the BJP, but also ensures a financial chokehold of the BJP via the government over political donations of business groups — leading towards economic and political concentration of wealth,” the Congress leader said.

He also cited recent remarks made by former Congress president Rahul Gandhi where he talks about the INDIA bloc constituents and claims that they are set to defeat the Bharatiya Janata Party (BJP) in the coming elections.

“But as Rahul Gandhi recently pointed out, the INDIA parties have come together to defeat this complete takeover of the state machinery by the BJP,” Ramesh said.

The Congress has been opposing the electoral bonds scheme, alleging that the BJP is cornering all the wealth from business houses.