Editorial With Sujit Nair | “Will Bring Back Electoral Bonds After Wider Consultations,” Says FM

[00:00:02] Hello and welcome to HW Editorial with me Sujit Nair. Here you can listen to my views, my analysis. Follow this podcast to stay updated. At HW News, we have been delivering news that matters to you.

[00:00:17] Our goal is to present you with information that stimulates conversations around topic of larger public importance that often gets lost in prime time shows. Namaskar. Welcome to another episode of Editorial. The Supreme Court of India called electoral bonds unconstitutional, unconstitutional.

[00:00:54] Which means it goes against the constitution of India and yesterday our finance minister said that we will bring back electoral bonds after wider consultation. Let's get right into the show. Let's talk about it. So much happened, so much happened on electoral bonds.

[00:01:19] The attorney general who's supposed to be representing us, the people of this country, attorney general of India. Not attorney general of Bharatiya Janata Party or the government, attorney general of India, ours attorney general. Went out and said why should people know everything?

[00:01:34] People should no need to know basis, Baba. Why should people know what party is getting what money from where? Why should people know attorney general last? The Supreme Court, the Chief Justice said nothing doing. Electoral bonds are unconstitutional. Unconstitutional doesn't biffet this democracy. It's against the constitution.

[00:01:57] SBI was asked to produce the data by a stipulated time. SBI said oops, we can't produce data Baba. Not possible. After elections, after results we'll give data. It's June. Then they were wrapped. The chairman who got extension, the SBI was wrapped. SBI came and gave all the data.

[00:02:18] So which means first time they lied. First time they were not telling the truth when they said that they cannot provide the data. They were not telling the truth. Of course nothing happened about that. SBI provided the data. And then the Pandora's box opened.

[00:02:35] Every political party, let's not just blame Bharat E Janta Party on this one. Every political party was caught with their whatever is down. They are pants down as they say. Hamaam mishap nange. That was what I told you then.

[00:02:51] It was every political party except for communist parties that is Marxist and whatever. Those parties except for them, every party had taken money in electoral boards. A lot of these monies came from sources which were not so clean. Sources where they paid more money than their profits.

[00:03:10] Sources where they paid more money while they were making losses. Sources that paid more money than the total construct of the company. So sources that were tainted paid money. And happily every political party accepted it. All this was happening.

[00:03:35] The Supreme Court put a stop to it and things were settling down. People were aghast when people heard that one particular political party that is Bharat E Janta Party earned 8000 crores, Congress 2000 crores, 8000 crores. 8000 crores for a political party. A big huge company doesn't make that kind of money.

[00:03:56] Political party, 8000 crores. So all this happened and like I said India was settling down. And now the finance minister comes and says that you see you know what? We will reintroduce electoral boards after checking with wider audience, after consultation with wider audience. We will reintroduce the electoral boards.

[00:04:21] Well electoral board manne kare ka baba. You see she said we still have to do a lot of consultation for stakeholders and see what is in it that we have to do to make or bring in a framework which will be acceptable to all.

[00:04:37] Primarily retain the level of transparency and completely remove the possibility of black money entering into this, in this manner electoral boards. A good statement to hear. Sab ko pujke karenge. Black money nahi aayega.

[00:04:51] Okay but electoral boards like they say aayega to Modi same way electoral boards no aayega. Electoral boards will come. You see the point is this is the same way that this government had said that black money no black money, every black money will get back. Happened?

[00:05:11] Same way now the black money will not allow it to enter into electoral boards. Black money will not allow black money to enter into electoral boards. Why would a government? Why would a political party need this kind of money? 8000 crores only coming from electoral boards.

[00:05:31] 12000 crores collected from electoral boards, electoral trust and other sources exclusively by one party. 12000 crores what why would a party need this kind of money? Why would a political party need this kind of money?

[00:05:47] What is the logic if it is not to destroy governments, to destroy elected members, to buy why why would I don't understand? If there is something else please explain to me. To my knowledge why would a political party need this kind of money?

[00:06:01] You see election commission has made a statement election commission has put a cap to spending. Now the logic is a candidate cannot spend more than 95 lakhs. A candidate for Lok Sabha election cannot spend more than 95 lakhs and a candidate for assembly elections cannot spend more than 40 lakhs.

[00:06:22] So assuming for a Lok Sabha election a party puts up a candidate in every constituency which never happens. Which never happens. 543 constituencies you put up your candidate, will be you are ending up spending roughly 543 crores lesser than 543 crores because there is 95 lakhs.

[00:06:40] You are spending lesser than 543 crores why do you need 12000 crores? You have got 4000 assembly seats, 4000 assembly seats. Assuming you spend 40 lakhs in all you put all 4000 assembly seats you put your members. Maximum you spend is 1600 crores. Maximum you spend is 1600 crores why would a political party need 12000 crores?

[00:07:04] Establishment, salaries 12000 crores expenses? Why would a party need this? Then we all know our guess is as good as anybody else's why would a party need this kind of money? And I am not just talking about Bharatya Dhantha Party, I am talking about Bharatya Dhantha Party,

[00:07:23] I am fatally because Bharatya Dhantha Party has got the maximum money. I am talking about any political party why would they require this kind of obnoxious money? That's the point that I am trying to make. Why?

[00:07:37] And secondly, you see Mr. Modi, Mr. Narendra Modi or good Prime Minister made a statement where he said that if there is no electoral bonds then in which system of power would they have ever been able to find out where the money came from and where it went?

[00:07:54] Modi asked this is the success story of electoral bonds. My God! My God! This is another statement which I am appalled. This is like Ram Mandir. For Ram Mandir, Lerayi Kong Ki Ata who started the Ram Mandir movement, who fought for Ram Mandir,

[00:08:11] how Supreme K court allowed the Ram Mandir to be constructed and who got the credit for it? How can you change the narrative? Electoral bonds, you and I wouldn't ever come to know where the money came from.

[00:08:25] You and I would never come to know who the money went if it wasn't for the Supreme Court, if it wasn't for Chief Justice of India, Mr. D. Y. Chandrachud and his panel. You and I would have never come to know about this.

[00:08:38] The government had well assured that we will never come to know about this. You know, after the court verdict, even after the court's judgment, SBI tried its best.

[00:08:48] The chairman who was given that one year extension, he tried his best to ensure that the people doesn't come to know. People are not made aware. They are made aware possibly after the elections, after the results. That was done.

[00:09:02] And the prime minister makes a statement like this, how fair is that? How fair is that? You see, the point that I am trying to make is end of the day, electoral bonds is not actually meant for transparency.

[00:09:19] Electoral bonds, if it was meant for transparency then why not electoral trust? Electoral bonds are not meant for transparency. Electoral bonds are meant to ensure that there is no transparency. And any exercise in this country, in this world, in a democratic process, in a democratic process,

[00:09:41] any exercise in this world where there is no transparency, they are bound to do things which are unconstitutional. It is bound to happen. Because the basis of democracy is transparency. You are staying in a democratic country because we are a transparent country.

[00:09:59] Can one single individual in this country say that I will not show the source of my funds? One individual in this country, what happens to that person? What happens to that person? So what you are trying to say is the rulers. We the rulers, nothing can be done.

[00:10:16] You won't know where you got the money from. We will not tell you where the money is coming from. Do what you want. We will not tell you where the money is coming from. We will not tell you where the money is coming from. That is the rulers.

[00:10:27] And as far as the subjects are concerned, we, one rupee, one rupee if we can't show the source, every enforcement body will be on your head. You will be behind bars. What kind of justice is this? And lastly, let me ask you.

[00:10:49] Is democracy meant for people or political parties? Is democracy meant for political parties to make 10,000 crores, 20,000 crores, 30,000 crores? Like when you start a company, a company that we want to make 30,000 crores, 40,000 crores, 50,000 crores, 70,000 crores, company which is fine because that's their business. They are into business.

[00:11:10] They are into business of making money which is fine. So is the political party now into the business of making money? So that you say, you know, are we going to start political parties? First year 30,000 crores. Second year 50,000 crores. Fifth year 100,000 crores guaranteed.

[00:11:27] Is that how you are going to launch political parties in India? I mean that's the question I ask you because electoral bonds, your political parties are supporting electoral bonds. Political parties are defending electoral bonds.

[00:11:39] Political parties are saying, listen, you know, in the Supreme Court, through this out, we are going to circumvent. We are going to circumvent the law. We are going to ensure that, you know, we talk to stakeholder, world and all that.

[00:11:52] But we will make a law that will ensure that we will launch this. So it will come with electoral bond. Isn't that the way it is? Isn't that the way it is? See the point is there is a chance that this government may come back to power.

[00:12:11] And the irony is if this government is coming back to power, they are already, already very clear that electoral bonds will be relaunched. They are already very clear that what Chief Justice and possibly by the time this is relaunched, the Chief Justice may not be in his chair.

[00:12:27] He may, must, may have retired. But if they relaunch this, what the Chief Justice of India once had unconstitutional, they are going to ensure that they are relaunched. This unconstitutional bill, this unconstitutional law once again. Once again. Because possibly, again like I said, whatever happens, whatever happens,

[00:12:51] will come to the point. Till I see you next time. Namaskar. Download now for a smarter, faster news experience.