On the electoral bonds system, PM Modi charges the opposition of propagating false information, saying, Everyone will regret it

On Monday, Prime Minister Narendra Modi charged that the opposition parties were “spreading lies” regarding the Supreme Court’s invalidation of the electoral bonds plan. I never claim that there aren’t any flaws in decision-making. After talking, we get better and learn. Additionally, there is a great deal of room for improvement. However, since we have pushed the nation entirely into using black money, I predict that everyone will regret it. Everyone will regret it, Modi warned the news agency, when they think things through.

In an attempt to increase openness in political fundraising, the government announced the electoral bonds program on January 2, 2018, offering it as a substitute for financial contributions to political parties. The Supreme Court declared the 2018-notified electoral bond scheme unlawful on February 15 and ordered the State Bank of India and the Election Commission of India to provide all information regarding bonds bought and cashed starting in April 2019.The court dismissed as “erroneous” the Center’s claim that the electoral bonds scheme guarantees contributor secrecy, equating it to a secret ballot system, and declared that ruling parties can compel individuals and organizations to contribute.

The opposition parties and civil society groups instantly applauded the electoral bond verdict, which was announced in advance of the Lok Sabha elections. In every election cycle that HT examined, the Bharatiya Janata Party (BJP) emerged as the largest beneficiary of funding, with the exception of the Bihar 2020 election cycle, in which it came in fourth.