'An alternative should be found...': Amit Shah believes black money's impact to rise due to scrapping of electoral bond scheme
He said it's up to Parliament to find an alternative if black money's impact increases.
- May 27, 2024,
- Updated May 27, 2024 8:19 PM IST
Home Minister Amit Shah believes black money's influence will rise in the ongoing Lok Sabha elections due to the Supreme Court's decision to scrap the electoral bond scheme. He said it's up to Parliament to find an alternative if black money's impact increases.
In an interview with PTI, Shah said the electoral bond scheme, which let donors anonymously fund political parties through SBI bonds, was scrapped at a crucial time. The Supreme Court struck down the scheme in February, a month before the Lok Sabha elections were announced.
Replying to a question on the issue, he said, "I believe and this is my guess that it will increase the influence of black money in elections and politics. When political parties submit their account for this fiscal year, then how much money is by cash donation and how much is through cheque will be known. The donation figure by cheques had reached 96 per cent at the time of the bond."
He added, "Now you will know. If the impact of black money rises, then an alternative should be found. There should be a debate in Parliament."
When asked if black money's influence would increase due to the scrapping of the electoral bond scheme, Amit Shah replied, "I guess so." Regarding an alternative to the bond scheme, he said the issue should be discussed with all stakeholders, including different political parties.
He said, "This will have to be debated in Parliament. We will have to discuss this with all parties. The Supreme Court's view since their judgment has come is also very important. The Attorney General and Solicitor General will also have to be consulted. So we will have to deliberate collectively and decide on a new alternative."
The Supreme Court struck down the electoral bond scheme, stating it violated the constitutional rights to information and freedom of speech and expression. The court also revealed the names of all donors and their beneficiaries.
However, the central government maintained that the scheme was designed to reduce the influence of black money in politics, allowing donors to remain anonymous to avoid being targeted by rival political parties.
Home Minister Amit Shah believes black money's influence will rise in the ongoing Lok Sabha elections due to the Supreme Court's decision to scrap the electoral bond scheme. He said it's up to Parliament to find an alternative if black money's impact increases.
In an interview with PTI, Shah said the electoral bond scheme, which let donors anonymously fund political parties through SBI bonds, was scrapped at a crucial time. The Supreme Court struck down the scheme in February, a month before the Lok Sabha elections were announced.
Replying to a question on the issue, he said, "I believe and this is my guess that it will increase the influence of black money in elections and politics. When political parties submit their account for this fiscal year, then how much money is by cash donation and how much is through cheque will be known. The donation figure by cheques had reached 96 per cent at the time of the bond."
He added, "Now you will know. If the impact of black money rises, then an alternative should be found. There should be a debate in Parliament."
When asked if black money's influence would increase due to the scrapping of the electoral bond scheme, Amit Shah replied, "I guess so." Regarding an alternative to the bond scheme, he said the issue should be discussed with all stakeholders, including different political parties.
He said, "This will have to be debated in Parliament. We will have to discuss this with all parties. The Supreme Court's view since their judgment has come is also very important. The Attorney General and Solicitor General will also have to be consulted. So we will have to deliberate collectively and decide on a new alternative."
The Supreme Court struck down the electoral bond scheme, stating it violated the constitutional rights to information and freedom of speech and expression. The court also revealed the names of all donors and their beneficiaries.
However, the central government maintained that the scheme was designed to reduce the influence of black money in politics, allowing donors to remain anonymous to avoid being targeted by rival political parties.