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PM Modi says ‘everyone will regret the rolling back of bond schemes’

Prime Minister Modi stands by the electoral bond scheme as the Lok Sabha elections of 2024 approach, expressing confidence that its implementation will not be regretted by anyone.

by Dharna Bafna
April 16, 2024
in Featured, India
Reading Time: 3 mins read
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PM Narendra Modi stated that the Supreme Court’s decision to abolish the electoral bond scheme would be regretted by all, emphasizing the scheme’s importance in revealing vital information about the flow of money and the various actors engaged in political funding. Modi made these comments two months subsequent to the Supreme Court’s ruling that deemed the electoral bond scheme unconstitutional.

Prime Minister Narendra Modi, in an interview with news agency ANI, emphasized the significance of electoral bonds in tracking the flow of money, including details such as which company provided it, how it was provided, and where it was provided. He suggested that when the opposition reflects on this honestly, they will realize the importance of electoral bonds, implying that they will regret their opposition to the scheme.

PMDuring an interview with Chennai-based Thanthi TV, Prime Minister Modi reiterated his stance on the Supreme Court’s decision to invalidate the electoral bond scheme. He mentioned that the ruling did not pose a setback for the BJP and warned that those who are currently celebrating the decision will eventually regret their actions.

PM Modi addressed concerns about the fairness of elections and the purported misuse of central agencies, stating that none of the laws concerning investigations by agencies such as the ED and CBI were initiated by his government. He emphasized that his government instead focused on implementing reforms within the Election Commission. Modi pointed out instances where individuals close to certain political families were appointed as Election Commissioners and later received Rajya Sabha seats and ministerial positions. He underscored the challenges faced by the BJP in competing at such a level playing field.

“My decisions aren’t meant to instill fear in anyone.” PM States

When discussing his intentions should the BJP regain power after the 2024 Lok Sabha elections, Prime Minister Modi assured that nobody should fear the future, as his actions will be aimed at the nation’s welfare. He emphasized that his plans are ambitious and are not intended to intimidate or undermine anyone, but rather to advance the country’s development as a whole.

PM Modi dismissed the Opposition’s claims regarding Electronic Voting Machine (EVM) tampering, suggesting that they are merely seeking excuses for their potential defeat in elections, aiming to deflect direct blame from themselves.

PM: “Nation has been pushed towards black money in polls”

PMIn an interview with ANI, Prime Minister Modi defended the electoral bonds scheme, asserting its aim to curb black money in elections while accusing the Opposition of evading responsibility through allegations. He revealed that only 37% of donations from 16 companies under scrutiny went to the BJP, with the remaining 63% directed to Opposition parties.

Modi emphasized the scheme’s role in tracing contributions to political parties and acknowledged room for improvement. Referring to past debates in Parliament, he highlighted the government’s measures to combat black money, including discontinuing high-denomination currency notes and reducing cash donations to parties.

Modi recalled challenges faced by BJP in the 1990s due to restrictions on cash donations, underscoring the necessity of electoral bonds for transparency. He criticized Opposition for spreading falsehoods and noted that 26 companies involved in electoral bonds faced scrutiny, with 16 doing so amid investigations. Despite the Supreme Court’s ruling against the scheme, Modi defended its effectiveness, signaling potential regret among critics upon reflection.

PMPrime Minister Modi revealed that the BJP had initially opted to accept all political donations via cheques. However, businesses raised concerns, fearing that this would expose their contributions to government scrutiny and potentially lead to repercussions.

PM highlighted the challenges faced by the BJP in the past regarding political donations and underscored the necessity of electoral bonds for transparency. Overall, Modi’s remarks reflect a firm commitment to electoral integrity and combating corruption in the Indian political system.

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