Unveiling the Massive Extortion Racket The Electoral Bond Scam in India is a massive extortion racket involving kickbacks for political parties. The scheme, introduced by the Modi government in 2017, allowed hidden funding of political parties without transparency to citizens. Home Minister Amit Shah's misleading claims about BJP receiving only a portion of the funds raised suspicions.
Exposing Anonymity Breach in Electoral Bonds Electoral Bonds were used as tools for illicit deals between companies and political parties. The bonds concealed donor identities through secret numbers under UV light but failed to maintain anonymity as revealed by investigative journalists like Poonam Agarwal. Despite assurances from Finance Ministry officials like Arun Jaitley that donations would remain anonymous, evidence suggested otherwise.
Legal Battle Against Unconstitutional Scheme Supreme Court declared the Electoral Bond Scheme unconstitutional due to lack of transparency and potential misuse for kickbacks disguised as business transactions. Advocates Prashant Bhushan and organizations like CPI(M) challenged this scheme leading to its exposure as a means of corruption benefiting ruling parties at public expense.
Revelations Through Selective Data Disclosure SBI's selective disclosure of electoral bond data raised concerns over opacity surrounding donors' identities and their contributions towards various political entities including major players like BJP, Trinamool Congress, Congress among others revealing significant discrepancies with official statements made regarding fund distribution.
Justifying Questionable Donations Acceptance Political party leaders justified accepting electoral bonds citing convenience for donors while overlooking implications on democracy integrity & public welfare funding misappropriation issues arising from undisclosed corporate influence on policy decisions & project contracts allocation.