By Nitya Chakraborty
The Supreme Court in its hearing on electoral bonds petition on Wednesday expressed right concerns about the misuse of electoral bonds but the important point which the learned judges, especially the CJI SA Bobde should know is that this electoral bond issue is just a small part of the BJP government’s systematic efforts since its coming to power in 2014 to steamroll the opposition parties through financial muscle power and thereby ensure its stability through funding by the big corporates. In the process a unique system of quid pro quo has been institutionalised in the Indian business world which was never in existence in this country’s history since Indian independence.
The Supreme Court has reserved the order on the petition appealing for staying of the next issue of the bonds scheduled to start from April 1 in the course of the current assembly elections which start from March 27 and end on April 29.The learned judges must have observed through the media reports how the defections are going on in Bengal on the eve of the poll and there are talks of hundreds of crores being spent by the BJP for coming to power in Bengal after May 2.There are reports going around in Kolkata that some of the stars of Tollygunge have been offered Rs. 10 to Rs. 20 crores for defecting to BJP.
The functioning of democracy in the states in India is under threat due to this money power. The level playing field has been lost for the non-BJP parties and all these have been possible due to the huge resources mobilised by the BJP through corporate donations, active support of the big traders and the big funds supply by the overseas Indians close to BJP as also the VHP dominated overseas religious bodies.
There is nothing wrong in the BJP in collecting funds from its supporters. It is entitled to do so as any other political party. But the problem is when it tweaks the laws in its favour in a partisan way through its hold over the government and makes use of the central agencies in hounding the moneyed people who, in some way fund the opposition parties. The use of the central agencies like ED, CBI and the IT department has been so blatant that no corporate takes any risk to be involved with the Congress Party which is still the main opposition in the country. As a result, the coffers of the Congress have reached an all time low and in many states which are going for assembly polls, the state units are desperately clamouring for more funds but they are not getting.
The electoral bonds can be purchased by the corporates but the names will be known to only issuer meaning State Bank of India and not the Election Commission. This means the names will be known to the centre and as the present government is known, the few people who dared to donate some funds to some opposition parties, will be blacklisted..The big houses are generally dominated by businessmen with Hindu faith, they have general sympathy for the BJP and that has grown in the last two decades, but many of them also sense democratic values and they are interested in giving some donations to other non-BJP parties. Even they are scared.
Anyone of the business world in India will talk in confidence that they can not run business by ignoring any request from the ruling party. Those who are very close to the BJP, are prospering and this gives a signal to the others which path to follow. It is a precarious situation now. Many of the young scions, alumni of Harvard or Yale who have ideals and who care for real democracy to thrive in India, are becoming unhappy at the present trend, but they love their business, they look for expansion and they have to fall in line. Who can take a big risk of annoying ruling dispensation at this time of pandemic when every corporate is struggling to survive and sustain.
The Attorney General K K Venugopal has totally presented a confused picture in reply to the CJI query when he said in the hearing that the bonds have ensured white money, not black money through cash. The issue is really not that, the issue is transparency. Why the Government and through that the ruling party will know who has bought the bonds and in whose favour? Further, this bond can be repurchased which opens up the possibility of dubious transactions. It is a double benefit for the ruling party. Since these days, no one will take the risk of doing such transactions in favour of any opposition party. If it is done for the BJP, the concerned party will be safe. There will be no raid.
The CJI must assess what is the percentage of the electoral bonds benefitting the BJP till now and how disproportionate this is. The next tranche of bonds is scheduled from April 1 to April 10. The CJI Mr. Bobde will be doing a great service to Indian democracy and the Constitution if he stays the next issuance of electoral bonds in his reserved order which is expected before April 1. That will be our CJI’s best contribution before his retirement during the present phase of assembly elections. (IPA Service)