Amidst the political arena in Raipur, Chhattisgarh, an intense discourse unfolds as former Chief Minister of Chhattisgarh and prominent Congress figure, Bhupesh Baghel, launches a scathing attack on the BJP regarding the now-defunct Electoral Bond Scheme. With the recent announcement of Lok Sabha election dates by the Election Commission, Baghel labels the scheme as the “preeminent scandal of the year.”
In a fervent address to the press, Baghel articulates, “This egregious scheme stands as the preeminent scandal of the year. The BJP, perceiving its impending defeat in the Lok Sabha elections, resorts to novel stratagems against its adversaries.”
Conversely, Union Minister of State for Health and Family Welfare, SP Singh Baghel, rises in defense of the scheme, rebuffing the allegations hurled by the Opposition as baseless. He asserts, “The Opposition propagates unfounded allegations against the BJP concerning the electoral bond scheme.”
Highlighting financial disbursements under the scheme, he discloses, “The TMC, characterized as a regional entity, amassed Rs 1600 crore through this conduit, while the Congress and the BRS garnered Rs 1400 crore and Rs 1200 crore, respectively. Electoral bonds impose an obligation upon all political factions receiving monetary support to transparently document transactional intricacies within their financial records. Nonetheless, preliminary utilization of the bonds permits parties to liquidate them for expenditure purposes.”
Criticizing the Congress, he alleges, “The Congress presently contends that the Electoral Bond Scheme was instated to coerce corporations through central agencies. Historically, their administrations incorporated even mundane activities such as personnel transfers or contract allocations into the ambit of party finances.”
Earlier disclosures by the Election Commission unveiled fresh insights into electoral bond transactions, previously presented to the Supreme Court under seal, following a judicial directive for public dissemination. “The Election Commission of India has currently published the digital rendition of data received from the Supreme Court registry on electoral bonds,” asserts the electoral body.
Initially submitted in sealed envelopes to the Supreme Court, the data was subsequently mandated for public accessibility. Notably, these disclosures pertain to transactions predating April 12, 2019, with details of bonds issued thereafter disclosed by the election commission in the preceding week.
Elucidating the process, the EC elucidates, “Data procured from political entities was remitted to the Supreme Court sans disclosure. In compliance with the Supreme Court’s edict dated March 15, 2024, the Supreme Court registry tendered physical copies along with digital transcripts encapsulated within a sealed envelope. The Election Commission of India has since disseminated the digital data furnished by the Supreme Court registry pertaining to electoral bonds on its official portal.”
Revealing the specifics of the disclosed data, it delineates the DMK’s receipt of Rs 656.5 crore via electoral bonds, including a substantial sum of Rs 509 crore from the auspices of Santiago Martin’s Future Gaming. The BJP, in turn, liquidated electoral bonds amounting to Rs 6,986.5 crore, with its zenith occurring in the fiscal year 2019-20, accruing Rs 2,555 crore. The Congress availed funds totaling Rs 1,334.35 crore through electoral bonds.