Electoral bonds scheme was world’s biggest extortion racket run by PM Modi: Rahul Gandhi

In a blistering attack on Prime Minister Narendra Modi over the electoral bonds scheme, Congress leader Rahul Gandhi on Friday accused Mr. Modi of “running the world’s largest extortion racket”.

He alleged that the funds amassed through the now scrapped scheme were used to split political parties like the Shiv Sena and the Nationalist Congress Party in Maharashtra, and to topple Opposition governments.

Electoral bonds | Congress demands SC-monitored probe into donations to BJP by companies raided by I-T department and ED

Making sense of the electoral bonds data

Congress president Mallikarjun Kharge demanded a Supreme Court-monitored inquiry, while the party’s communications chief Jairam Ramesh alleged that companies which donated to the BJP were granted government contracts in a quid pro quo arrangement.

‘Criminal extortion’

Interacting with media in Thane at the end of day 62 of his Bharat Jodo Nyay Yatra, Mr. Gandhi said that the opaque electoral bonds system was designed to benefit the ruling party.

“Now it turns out that this is a way of extorting money from India’s largest corporates. A way of stealing money from the biggest contracts in the country, and intimidating corporates and forcing them to give money to the BJP. Electoral bonds is the world’s biggest corruption scam and extortion racket run by the Prime Minister of India,” he said.

Terming it criminal extortion from corporate India, the Wayanad MP said that he was not making allegations, but stating facts. “Months after a contract is given or days after the CBI or ED raids take place, the companies suddenly start giving electoral bonds to the BJP. Certain companies which never donated money to the BJP, have got cases filed by the ED, CBI, and then the corporates donate money to the party. It’s up front,” Mr. Gandhi said.

‘No links to contracts in Congress-run States’

The Congress leader alleged that the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) have morphed into BJP and RSS entities. He asserted that one day, when the BJP government is replaced, such actions would have consequences. “Rest assured, such occurrences will be prevented,” he said.

Electoral bonds data | Many top donors were under ED and Income Tax Department scanner

Asked by The Hindu about certain companies which bought electoral bonds operate, and which have projects in Congress-ruled Karnataka and Telangana, Mr. Gandhi said: “There is no correlation between the electoral bonds and the contracts given by the Congress or other Opposition parties’ governments in States.”

In Bengaluru, Mr. Kharge demanded a Supreme Court-monitored special investigation into the electoral bonds scheme through which the ruling BJP has encashed ₹6,065 crore over five years. The BJP’s bank accounts must be frozen till the completion of the probe, he added.

‘No level playing field’

While the BJP has received the highest amount in electoral bonds, it was the bank account of the Congress, containing donations received from party workers, which had been frozen, he said, adding that there was “no level playing field”.

Mr. Kharge sought an investigation into the alleged links between donations made by companies that were either raided by I-T and ED officials, or received notices from Central agencies, and the funds received by the BJP. “The Supreme Court-monitored investigation is needed since the apex court has unanimously struck down the Centre’s electoral bond scheme,” the AICC chief said.

‘Quid pro quo’ arrangements

Mr. Ramesh focussed on companies that donated to the BjP after raids by Central investigation agencies, shell companies which made donations, and key missing data about the bonds scheme.

Electoral bonds data | Full list of donors and recipient political parties

“There are many cases of companies that have donated electoral bonds, and immediately afterwards gotten huge benefits from the government: Megha Engineering & Infra has given over ₹800 crores in EBs. In April 2023, they donated ₹140 crore, and just one month later, they were awarded the ₹14,400 crore Thane-Borivali Twin Tunnel Project,” he alleged.

“The BJP’s Hafta Vasooli strategy is simple — raid a target through the ED/CBI/I-T, and then seek ‘hafta’ (donations) for the company’s protection. At least 14 of the top 30 donors have been raided,” Mr. Ramesh said.

Communist Party of India (Marxist) general secretary Sitaram Yechury said the correlation between the raids by the CBI and ED has been clearly established with the available data on Electoral bonds. “It is very clear that once they buy the electoral bonds, the investigations against them by the central agencies are suspended. This is nothing but a clear-cut case of political extortion,” he said.

(With inputs from Nagesh Prabhu in Bengaluru and Sobhana K. Nair in Delhi)