New Delhi: According to the electoral bonds data released by the Election Commission of India on Thursday, the total amount of bonds redeemed by political parties – at Rs 12769,08,93,000 or more than Rs 12769 crore – is more than the total amount of electoral bonds purchased by companies and individuals, at Rs 12155,51,32,000 or more than Rs 12155 crore.
Transparency rights activist Anjali Bhardwaj told The Wire that this discrepancy could be because the State Bank of India has only released data starting from April 12, 2019. Electoral bonds are valid for 15 days since the date of purchase, and so it is possible that of the bonds purchased at the start of April, some were redeemed by parties after April 12 – so their redemption data is now available, but not their sale data.
However, whether this discrepancy can be explained in this way can only be clarified by the State Bank of India, by releasing all the missing data from the first year of the electoral bonds scheme.
The Supreme Court had said in its judgment striking down the electoral bonds scheme that voters have the right to know whether there have been any quid pro quo arrangements between parties in government and business houses or corporate interests. However, since the SBI has provided two separate lists – one of who purchased bonds, and a different one of which party redeemed them – it has not been possible to draw entirely clear lines between who paid whom.
As The Wire has reported, several of the companies listed as big purchasers of electoral bonds have been under the scanner of central agencies and faced cases and raids. Other reports have also pointed out that some companies have bought electoral bonds worth much more than their annual profits.
