Nirmala Sitharaman favors Electoral Bonds over cash-filled sacks, suitcases

Union Finance Minister Nirmala Sitharaman asserted the superiority of the electoral bond scheme over the previous practice of delivering cash-filled sacks and suitcases to political parties. She highlighted that the electoral bond scheme, enacted through parliamentary legislation, ensured transparency by tracking the transfer of funds through bank accounts. Sitharaman defended the scheme against criticism, emphasizing that while it might not be flawless, it represented a significant improvement over the opaque methods employed before its implementation.

Addressing opposition accusations regarding inflation, Sitharaman pointed out that, except for a few isolated instances, inflation had remained below the tolerated threshold of six percent since 2014. She compared this to the double-digit inflation experienced for 22 months during the previous administration's tenure from 2004 to 2014. Sitharaman underscored the government's commitment to addressing inflation concerns by actively monitoring and importing essential commodities as needed.

Moreover, Sitharaman criticized the Congress party for reneging on promises made in various state election manifestos, particularly regarding the restoration of the old pension scheme. She accused the Congress of misleading voters with empty promises to secure votes, citing instances where the party failed to deliver on its commitments after winning elections.

Responding to the scrapping of the electoral bonds scheme by the Supreme Court, Sitharaman defended its legitimacy, highlighting that it was enacted through due parliamentary process and utilized by all political parties. She stressed the structured nature of the scheme, which facilitated transparent transactions from buyer to recipient through designated accounts, contrasting it with the unregulated methods prevalent before its implementation.

Sitharaman's remarks came during her visit to Jaipur, where she addressed the Enlightenment Conference and engaged in discussions on industrial and business matters.