New Delhi: Renowned economist Parakala Prabhakar, who happens to be the husband of Union Finance Minister Nirmala Sitharaman, has made a bold assertion regarding the controversial electoral bonds issue. Speaking to news channel reporter, Prabhakar projected that the fallout from the electoral bonds controversy would significantly impact the ruling Bharatiya Janata Party (BJP).
He emphasized that the issue is not only the biggest scam in India but potentially the largest in the world. Prabhakar highlighted the growing realization among the public about the gravity of the situation, predicting severe repercussions for the government at the hands of the electorate.
The BJP has been identified as the primary beneficiary of electoral bonds, receiving a staggering sum of Rs 6,986.5 crore between April 12, 2019, and February 15, 2024.
This revelation comes amid heightened scrutiny following a Supreme Court ruling in February that struck down the Electoral Bonds Scheme led by Prime Minister Narendra Modi’s government. The scheme allowed for anonymous funding to political parties, a practice now deemed unconstitutional by the judiciary.
“Electoral bond scam is not just the biggest scam in India but the biggest scam in the world. After electoral bond corruption became public, now the fight is not between two alliances but between the BJP and the people of India.”
-Parakala Prabhakar, economist & FinMin Nirmala… pic.twitter.com/awoyDRhAtp— Congress Kerala (@INCKerala) March 27, 2024
In light of recent developments, civil society activists have raised concerns over the transparency and integrity of the electoral process. They point to instances where companies under investigation by agencies such as the CBI, ED, and income tax department have made substantial contributions to political parties through electoral bonds.
Senior advocate Prashant Bhushan highlighted specific cases, such as Future Gaming and Aurobindo Pharma, where significant donations were made to the BJP shortly after raids by enforcement agencies.
Opposition parties have vehemently criticised electoral bonds, labeling them as a form of legalized corruption. Meanwhile, the BJP has defended the scheme, arguing that its abolition could lead to the resurgence of black money in politics. As the debate rages on, the electoral bond controversy continues to fuel discussions surrounding transparency, accountability, and the role of money in Indian politics.
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