Modi Warns of 'Black Money' in Political Funding After Court Scraps Old System
The Supreme Court's decision on electoral bonds led to concerns of "black money" in politics, countered by Prime Minister Modi.
The scrapping of a controversial political funding system by the Supreme Court has raised concerns about the influx of "black money" into Indian politics, stated Prime Minister Narendra Modi in remarks aired on Monday. The system, involving "electoral bonds," allowed individuals and corporations to make unlimited and anonymous contributions to political parties. However, the court deemed this unconstitutional in February, prompting Modi to address the issue ahead of India's general election.
Modi rejected accusations of his Bharatiya Janata Party (BJP) coercing funding, asserting that the system was transparent and that companies also contributed to opposition parties. Despite defending the system's transparency, Modi acknowledged room for improvement, emphasizing the need to learn and evolve in decision-making processes. However, he warned that the abolition of the system has led the nation towards black money, a consequence that will eventually be regretted by all.
Data released following the court's orders revealed that the BJP was the primary beneficiary of the electoral bonds, receiving half of the total bonds sold between January 2018 and February 2024, amounting to 165 billion rupees ($1.98 billion). Despite this revelation, Modi dismissed allegations of his party exploiting agencies like the Enforcement Directorate (ED) for political gain. He argued that only a small fraction of ED cases involve political leaders, advocating for the agency's independence in conducting its duties.
Modi's remarks come amidst heightened scrutiny of political funding practices and allegations of misuse of power. As India prepares for elections, transparency and accountability in political financing have emerged as critical issues. While the scrapping of the electoral bond system has brought attention to the vulnerability of the political funding landscape, it has also sparked debates on the need for reforms to uphold integrity and fairness in the electoral process.
As the nation navigates through these challenges, Modi's stance reflects a commitment to addressing concerns over black money and ensuring the integrity of India's democratic institutions. However, the road ahead may require concerted efforts to strike a balance between political autonomy and regulatory oversight, fostering trust and confidence in the democratic process.
| Follow the Hindeez on Google News |  |
| Follow the Hindeez channel on WhatsApp |  |
We hate spam as much as you do
© Hindeez 2024, All Rights Reserved
