‘Everyone will regret’: PM on scrapping of Electoral Bonds scheme
New Delhi: Prime Minister Narendra Modi in an interview with news agency ANI on Monday acknowledged that decisions can have flaws and criticised Opposition parties for allegedly misleading the public about the electoral bonds scheme, which the Supreme Court has invalidated. Emphasising that the scheme intended to reduce illicit funds in elections, he said: “Everyone will regret it when there is an honest reflection”.
Modi highlighted that the electoral bonds were a step towards transparency, revealing donors to political parties. He admitted the scheme is not perfect but argued it represents progress in combating election-related corruption. He noted that during its implementation, a significant portion of donations went to Opposition parties, countering accusations of bias.
He said of the 16 companies who gave donations after action by probe agencies, only 37 per cent of the amount went to the BJP and 63 per cent to Opposition parties opposed to the BJP.
The Prime Minister recalled the Parliamentary debate on the scheme and the previous support from some current critics. He also mentioned the demonetization of high-value currency notes as another measure against black money.
He referred to the government’s decision to disband Rs 1,000 and Rs 2,000 denomination currency notes as part of its efforts to tackle black money. “These notes were moved in large quantities during the elections. We took the step so that black money ends”, PM Modi said.
The Prime Minister said political parties were earlier allowed cash donations up to Rs 20,000 and he changed it to Rs 2500 as he did not want “this cash business” to go on.
He said BJP had earlier decided to take all political donations by cheques but business people came and said they could not pay through this mode as the government would get to know how much they had contributed to a political party and would “trouble them”. He said the businessmen conveyed that they are ready to give donations but not through cheques.
“I remember in the nineties, 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.
“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.
PM Modi also attacked the Opposition for spreading lies over electoral bonds and said of the 3,000 companies that gave donations through the scheme, 26 faced action by probe agencies such as ED.
He said of these 26 companies, there were 16 who took electoral bonds when they faced action. “Of these (16 companies) 37 per cent of the amount went to BJP and 63 per cent to Opposition parties opposed to BJP.
“There is an ED raid… the work of donating to the Opposition, will BJP do this? This means 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 said.
Prime Minister Narendra Modi also addressed allegations from the Opposition regarding an uneven electoral playing field. He clarified that the current laws governing institutions were established prior to his administration and suggested that the Opposition might be seeking to justify their potential loss in the upcoming Lok Sabha elections.
Prime Minister Modi refuted accusations of misusing the Enforcement Directorate (ED), noting that a mere 3 per cent of cases involve political figures. He emphasised the significant increase in cash seizures by the ED over the past decade compared to earlier years.
Modi stated: “The laws that are being questioned were not enacted during my government’s tenure, whether they concern the ED, CBI, or Election Commission.”
He also mentioned the passage of a bill that includes the Leader of the Opposition in the committee responsible for selecting Election Commissioners, marking an improvement in the Election Commission’s formation process.
“The Election Commission now includes members of the Opposition, unlike in the past when commissioners were appointed with a simple signature from the Prime Minister,” Modi explained.
He criticised the previous practice where individuals affiliated with the Congress party were appointed as Election Commissioners and later assumed roles as Rajya Sabha members and ministers.
Modi took a dig at the Opposition, stating: “We cannot stoop to such levels. We are committed to following the right path.”
He accused the Opposition of fabricating excuses for their anticipated defeat, likening their behaviour to a proverb about blaming the dance floor for one’s inability to dance.
“There is a saying-- Naach na jaane aangan tera (phrase literally translates to, someone who can’t dance calls the floor distorted),” PM Modi said. “That’s why sometimes they come up with excuses over EVM. Basically, they have already started setting a reasoning for their impending defeat, so the loss does not come on their side.”
The Prime Minister highlighted the Chief Election Commissioner and Other Election Commissioners (Appointment, Conditions of Service and Term of Office) Bill, 2023, passed last December, which introduced a new selection system for Election Commissioners involving a three-member committee.
Regarding the imprisonment of Opposition leaders, Modi questioned the number of such leaders currently jailed and suggested that the Opposition’s governance is not solely defined by these individuals.
Discussing the ED’s performance, Modi revealed that the agency had attached Rs 5,000 crore worth of property before 2014, whereas, in the last decade, assets totaling Rs 1 lakh crore have been attached. He defended the ED’s independence and its role in combating corruption.
“Before 2014, the ED recovered only Rs 34 lakh in cash. In contrast, over the past ten years, we have seized Rs 2,200 crore in cash,” Modi stated, underscoring his commitment to fighting corruption.
The Prime Minister concluded by reiterating his dedication to eradicating corruption and asserting that the ED’s successful operations reflect this commitment.
The 2024 general elections are scheduled to take place in seven phases from April 19 to June 1, with the results to be declared on June 4.
Prime Minister Narendra Modi also articulated a clear vision for foreign investment in India, emphasising the importance of incorporating the essence of Indian soil and engaging local citizens in the manufacturing process. As the nation approaches the Lok Sabha elections, PM Modi has welcomed global investors but with a caveat: the production must be carried out by Indians, providing employment opportunities for the country’s youth.
PM Modi highlighted his desire for foreign investment, not for the capital alone but for the value it brings to the Indian workforce. “The investment is welcome, but the sweat and toil in creating the products must be Indian. It’s essential that our products resonate with the spirit of our land, offering employment to our youth,” he remarked, responding to queries about Tesla and Starlink’s potential ventures in India.
The Prime Minister also addressed comments made by Elon Musk, who has expressed admiration for Modi. PM Modi clarified: “It’s not just about support for me; it’s about support for India,” reflecting on his interactions with Musk, including a visit to Musk’s factory and their recent meeting in the US.
Elon Musk is scheduled to meet with PM Modi in India later this month, with expectations of a significant investment announcement from Tesla. However, details of Musk’s visit remain unconfirmed.
