Nitin Gadkari, a cabinet minister, expressed the indispensability of financial resources for the sustenance of a political entity, affirming the government’s well-meaning initiative of introducing electoral bonds in 2017, albeit recently invalidated by the Supreme Court. The seasoned Bharatiya Janata Party (BJP) luminary stressed the imperative for collective reflection among all political factions should the apex court issue further directives on this matter.
Gadkari articulated these views during a forum convened by a media conglomerate at GIFT City near Gandhinagar last Friday. Recollecting his involvement in the discourse surrounding electoral bonds during the tenure of Arun Jaitley as the Union finance minister, he underscored the vital role of financial resources for the viability of any political entity. In certain nations, governmental patronage is extended to political groups, a practice absent in India, prompting the adoption of the aforementioned financing mechanism.
Elucidating the rationale behind the inception of electoral bonds, Gadkari highlighted the objective of enabling direct financial support to political outfits while preserving the anonymity of donors, particularly crucial during transitions of power. Analogizing the sponsorship imperative for media events to the financial exigencies faced by political entities, he emphasized the necessity for pragmatic solutions in the realm of political funding.
In a resolute assertion, Gadkari reiterated the altruistic intent behind the introduction of electoral bonds, vouching for transparency in political finance. He pledged bipartisan cooperation in addressing any deficiencies identified by the judiciary, emphasizing the pivotal role of financial sustenance in facilitating political activities essential for the functioning of a democracy founded on values.
The recent landmark ruling by the Supreme Court, nullifying the electoral bonds scheme in anticipation of the upcoming Lok Sabha elections, resonated with the constitutional principles of free speech and access to information. Subsequently, the State Bank of India (SBI) has divulged diverse datasets pertaining to funds channeled through electoral bonds to various political entities, underlining the evolving discourse on transparency in electoral finance.
