NEW DELHI: Defending electoral bonds, Finance Minister Arun Jaitley on Sunday said they 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-II regime.
Highlighting the problem of black money in elections, 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.
“Surprisingly the attack is against the bonds and not the electoral trusts because the earlier was brought by the NDA and the latter was by UPA. The underlying principle of both is the same,” Jaitley said in his blog titled ‘The Choice of Political Funding – Cheque, Electoral Bonds or Blackmoney from Contractors and middlemen’.
He further said in the absence of the electoral bonds, the donors will have no option but to donate only by cash after siphoning monies from their businesses. (AGENCIES)
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