Prime Minister Narendra Modi has said that the government never claimed the electoral bonds scheme was the absolute way to bring transparency in the election process.
In an interview with news agency ANI, PM Modi said that there had been a discussion in the country for a long time that black money is dangerous for elections.
" ...money is spent in elections; no one can deny this. My party also spends [it], all parties, candidates spend and money has to be taken from people. I thought that we [if] try something, how can our elections be free from this black money, how can there be transparency? There was a pure thought in my mind. We were looking for a way. We found a small way, we never claimed that this was the absolute way," he told ANI.
PM Modi noted that he never said that a decision taken cannot have its shortcomings and also accused the opposition parties of "spreading lies" over the electoral bonds scheme.
The reaction comes after the Supreme Court struck down the electoral bonds scheme as "unconstitutional" in February this year and directed the State Bank of India to make public the details of all donors and beneficiaries.
PM Modi added that the electoral bonds scheme was aimed at curbing black money in elections and said the opposition wants to run away after making allegations.
He said of the 16 companies who gave donations after action by probe agencies, only 37 per cent of the amount went to the BJP and 63 per cent to opposition parties opposed to the BJP.
The Prime Minister told ANI that the scheme can also be viewed a "success story" as the public can now see which company or individual donated to which political party.
"This is the success story of electoral bonds, there were electoral bonds, so you are getting a trail on which company gave [money], how it gave, where it gave. Whether what happened in the process was good or bad can be an issue of debate ... I never say that there is no shortcoming in decision-making," he said.
PM Modi said that his government learns after discussions and is open for improvement.
"There is a lot of scope of improvement in this also. But today we have completely pushed the country towards black money, hence I say everyone will regret it. When they will think honestly, everyone will regret it," he said.
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