New Delhi: Coming out in defence of electoral bonds, Union finance minister Arun Jaitley on Sunday said electoral bonds bring transparency in the political funding process and are aimed at checking the use of black money for funding elections, as was sought to be achieved through electoral trusts proposed during the UPA-2 regime.
The senior BJP leader also took on non-governmental organisations, who bring out reports and surveys on electoral and political fields, saying most “display a lack of understanding of how political parties function” and are unaware of the “fund collection culture” of political outfits.
Asserting that the BJP prefers “legitimate methods” like electoral bonds unlike “old obsolete style of only blackmoney” by some outfits, Mr Jaitley said his party, “declares larger income and gullible friends in the NGOs believe that they get more” thus reduceding the credibility of their reports.
Mr Jaitley said as per reports Rs 1,500 crore has been seized as a result of initiatives taken by the Election Commission and revenue authorities.
