Lok Sabha election 2024: Will Opposition be able to corner BJP on electoral bonds scheme?

Tribune Web Desk

Vibha Sharma

Chandigarh, March 16

The Election Commission of India on Saturday will set the ball rolling for the 2024 Lok Sabha elections for which Prime Minister Narendra Modi has set a target of 370 seats for the BJP and 400-plus seats for the party-headed NDA.

It is an ambitious target given that the last time any party crossed the 400-mark in the 543-member Lower House was the Congress in 1984 in the wake of PM Indira Gandhi’s assassination.

The disclosure by the Election Commission of India (ECI) on electoral bonds data shared by SBI has added a new dimension to these elections, giving a leg-up to the Opposition election strategy against the ruling BJP.

The big question, however, is if opposition parties, including INDIA bloc, will be able to make the most of it and corner the BJP on the issue. 

Launching a blistering attack on PM Modi over the scheme, Congress leader Rahul Gandhi on Friday accused him of “running the world’s largest extortion racket”.

He also alleged that funds amassed through the now-defunct scheme were used to split political parties like Shiv Sena and NCP in Maharashtra and topple Opposition governments.

Will it work against BJP

The BJP has its ammo ready to counter.

In his first response after the Supreme Court scrapped the scheme, an equally scathing Home Minister Amit Shah had said the scheme had been introduced to “wipe out black money” from the political funding process prevailing earlier.

Before the scheme, donations to political parties were made through cash, he said at a media event, accusing the Congress of corruption in transactions.

“They (Congress leaders) would deposit Rs 100 in the party and keep Rs 1,000 in their homes.

“Congress has done this for years,” he said.

Shah also said the amount the opposition parties received was disproportionate to the number of seats they held in the Lok Sabha.

“The BJP received around Rs 6,000 crore through electoral bonds. The total bonds (of all parties) amounted to Rs 20,000 crore. So where did the rest of the bonds worth Rs 14,000 crore go, “ he questioned, adding that  the Trinamool Congress received bonds worth “Rs 1,600 crore, Congress Rs 1,400 crore, Bharat Rashtra Samithi Rs 1,200 crore, BJD Rs 775 crore and DMK Rs 649 crore”

Individually among political parties, the BJP tops the list by cashing electoral bonds worth RS 6,060.5 crore, followed by TMC (Rs 1,609.50) crore and Congress (Rs 1,421.9 crore).

Bonds—the implications

The disclosure following the Supreme Court directive does underscore the significance of transparency in electoral funding, say observers.

The “landmark judgement” also highlights issues like the protection of voters’ right to know and political equality and level playing field in a democracy, they add.

“There is no denying that information following the SC directive on the eve of elections highlights factors like people’s right to know, transparency, accountability in the political system and possibilities of quid pro quo arrangements. But will it affect the outcome of the Lok Sabha elections in a country where in elections multiple factors like caste combinations, welfare schemes etc, remains to be seen. It may influence a certain section of voters unless some major corruption link is established” observers say.

Notably, as per reports, Future Gaming and Hotel Services PR, led by Santiago Martin, emerged as the topmost donor from April 12, 2019, to January 24, 2024, contributing around Rs 1,368 crore. There has been a seizure of Rs 411 crore by the Enforcement Directorate and a complaint under the Prevention of Money Laundering Act, 2002, against the company. 

 'Labharti' push

Over the years, ‘labharthis’ and women voters and welfare schemes have remained one of the key strategies in the BJP’s election plan and ambitious welfare programmes and promises are expected  to also remain the central theme of its 2024 General Election.

The direct delivery of welfare benefits to citizens has been a popular vote catcher and the BJP is focussed on an outreach programme centred around ‘Modi ki Guarantee’, featuring “fulfilled” promises like  construction of Ram Temple in Ayodhya, the implementation of Citizenship (Amendment) Act and the abrogation of the Article 370, and welfare programmes for poor, farmers and women.

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