INVC NEWS
New Delhi : After the rebuke of the Supreme Court, SBI has given the data of electoral bonds to the Election Commission of India. The Commission has uploaded this on its web portal. After the information about this bond came, Congress has made many serious allegations against the government. Senior Congress leader Jairam Ramesh fiercely attacked BJP by sharing the entire data. He shared the data and wrote… This is the first analysis since the information related to electoral bonds came to light, which SBI made public last night after weeks of trying to postpone it till after the elections. Over 1,300 companies and individuals have donated in the form of electoral bonds, including donations of over Rs 6,000 crore to the BJP since 2019. As of now, the electoral bond data brings out at least 4 corrupt policies of the BJP.
Jairam Ramesh’s Condemnation
Leading the charge against the Bharatiya Janata Party (BJP) is veteran Congress leader Jairam Ramesh, who has spared no punches in his scathing critique of the government’s handling of electoral bonds. Ramesh, armed with the newly disclosed data, has launched a blistering attack on the BJP, exposing what he alleges to be systemic corruption within the party’s financial practices.
Revelations from the Data
Rampant Corporate Influence
The data reveals a concerning trend of corporate entities leveraging electoral bonds to influence governmental decisions in their favor. Among the plethora of donations, it has come to light that over 1,300 companies and individuals have collectively contributed upwards of Rs 6,000 crore to the BJP since 2019. These sizable contributions raise serious questions about the impartiality of political decision-making and the undue influence wielded by corporate interests.
Corrupt Policies Unveiled
1. Give Donation, Take Business
One of the most egregious revelations is the apparent quid pro quo between political donations and government contracts. Instances abound of companies making substantial contributions through electoral bonds only to secure lucrative projects shortly thereafter. For instance, Megha Engineering & Infra’s donation of over Rs 800 crore preceded its procurement of the Thane-Borivali Twin Tunnel Project worth a staggering Rs 14,400 crore. Similarly, Jindal Steel & Power’s Rs 25 crore donation preceded its acquisition of the Gare Palma 4/6 coal mine.
2. Weekly Recovery
The BJP’s alleged “hafta recovery” policy, characterized by coercive tactics such as raids by enforcement agencies followed by solicitations for donations, has sent shockwaves through the political landscape. A startling revelation from the data suggests that at least 14 of the top 30 donors have been subjected to such raids, implicating a disturbing nexus between government agencies and political fundraising.
3. New Methods of Bribery
A troubling pattern emerges from the data, indicating a correlation between government favors and subsequent donations through electoral bonds. Companies purportedly reciprocate government assistance by making significant contributions shortly after benefiting from favorable policies. Vedanta’s acquisition of the Radhikapur West private coal mine, followed by a Rs 25 crore donation, exemplifies this concerning trend.
4. Money Laundering through Shell Companies
Perhaps the most alarming aspect of the electoral bond scheme is its susceptibility to exploitation by shell companies seeking to launder black money. The removal of restrictions on corporate donations has paved the way for dubious entities to funnel illicit funds into political coffers. One such example is Quick Supply Chain Limited, which donated a staggering Rs 410 crore, raising red flags about the integrity of the electoral funding process.
