Senior Congress Leader Criticizes Electoral Bond Scheme as New Tranche Opens
New Delhi Sep -30 2023 : In a recent statement, senior Congress leader P Chidambaram has strongly condemned the electoral bonds scheme, characterizing it as “legalized bribery.” As the 28th tranche of electoral bonds is set to be launched on October 4, Chidambaram predicts that it will result in a “golden harvest” for the Bharatiya Janata Party (BJP).
The decision to approve the issuance of the 28th tranche of electoral bonds was announced by the government on Friday, and these bonds will be available for purchase for a period of 10 days starting October 4.
This development takes place against the backdrop of upcoming assembly elections in several states, including Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, and Mizoram. The official announcement of poll dates for these states is expected soon.
Chidambaram took to a social media platform, where he expressed his concerns regarding the upcoming tranche of electoral bonds. He remarked, “It will be a golden harvest for the BJP. Going by the past records, 90 percent of the so-called anonymous donations will go to the BJP.” Chidambaram further stated, “The crony capitalists will open their cheque books to write out their ‘tribute’ to the lord and master in Delhi.”
Chidambaram’s strong stance against electoral bonds has ignited a debate on the ethicality and transparency of political funding in India. He categorically labeled electoral bonds as “legalized bribery.”
Electoral bonds were introduced as an alternative to cash donations made to political parties in an effort to enhance transparency in political funding. The inaugural sale of electoral bonds occurred in March 2018, with the State Bank of India (SBI) being the sole authorized bank for their issuance.
Electoral bonds are available for purchase by Indian citizens and entities incorporated or established within the country. Registered political parties that have secured not less than 1 percent of the votes polled in the last Lok Sabha or legislative assembly elections are eligible to receive funding through electoral bonds.
The Congress party has been vocal in its criticism of the electoral bonds scheme, describing it as one of the most “diabolical acts” of the Narendra Modi government. They argue that the scheme undermines the electoral system and democracy in India.
