As the electoral bonds continue to dominate headlines, the upcoming Lok Sabha elections are poised to be a crucial test for the BJP. Incidentally, a renowned economist and the husband of Union Finance Minister Nirmala Sitharaman, Parakala Prabhakar described electoral bonds as a biggest scam not in India, but in the world.
In an interview, referring to the ongoing Lok Sabha elections, he said that now the fight is not between two alliances, but between the BJP and the people of India.
“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” he said.
The controversy surrounding electoral bonds intensified following directives from the Supreme Court, which mandated the Election Commission of India (ECI) to disclose data on electoral bonds on its official website.
According to the published data, the BJP, led by Prime Minister Narendra Modi, emerged as the primary beneficiary of electoral bonds, receiving a staggering Rs 6,986.5 crore between 12 April, 2019, and 15 February, 2024.
Prabhakar asserted that the issue would have profound implications for the ruling Bharatiya Janata Party (BJP) in the upcoming Lok Sabha elections. Expressing his views on the matter, he said, “The electoral bond issue will gain much more momentum than what it is today. It will become a major issue”.
“It has already spun out of the control of the BJP and the BJP government. Because of this issue, this government will be severely punished by the electorate,” he added.
In a significant blow to the BJP-led Central government, the Supreme Court invalidated the Electoral Bond scheme in February, which allowed anonymous funding to political parties.
The opposition parties have been consistently accusing the BJP of disproportionately benefiting from electoral bonds. Now, Prabhakar felt that the repercussions of this issue potentially influencing the outcome of the upcoming polls.
