Corruption Unmasked: The Electoral Bond Conspiracy

 

Electoral Bond Scam: The Biggest Extortion Racket in India

Introduction

The Electoral Bond Scam is a massive corruption scandal that has robbed Indian citizens of their money. This scheme, introduced in 2017, was not a standalone scam but a collection of scams involving extortion, kickbacks, and the misuse of public funds.

How the Electoral Bonds Scheme Worked

Electoral bonds were essentially coupons that companies could purchase from banks to donate to political parties. The coupons were then redeemed by the parties for cash. The rule stated that any unclaimed bonds would be transferred to the Prime Minister's Relief Fund after 15 days.

Deception and Lies

However, forensic analysis revealed that each bond had a secret unique number visible only under ultraviolet light. This contradicted the Modi government's claim that donors' identities would remain hidden.

The Extortion Racket

The real purpose of the Electoral Bond Scheme was to provide business opportunities to companies in exchange for kickbacks to the ruling party. If companies refused to donate, they faced action from agencies like ED and CBI.

Examples of Fraud

Three examples illustrate how the scam worked:

1. Tax Evasion: Companies that evaded taxes were given a free pass in exchange for electoral bond donations, depriving the public of funds.
2. Improper Contract Awards: Companies that donated through electoral bonds were awarded contracts for public projects, despite concerns about their eligibility or quality of work.
3. Safety Compromises: Companies involved in construction accidents and fatal incidents continued to receive government contracts after making electoral bond donations.

Impact on Citizens

The Electoral Bond Scam robbed Indian citizens of public funds and compromised their safety and well-being. It distorted the electoral process and allowed the ruling party to maintain its power through corrupt means.

Revelation of the Scam

In February 2023, the Supreme Court declared the Electoral Bond Scheme unconstitutional. This led to the release of data on electoral bond purchases and donations, revealing the extent of the fraud.

Parties Involved

Three entities were involved in the scam:

1. Political Party: The ruling BJP used the scheme to raise funds and provide kickbacks to companies.
2. Companies: The donors purchased electoral bonds to gain business opportunities.
3. Public: The citizens of India lost public funds and faced the consequences of compromised safety standards for public projects.