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Union Finance Minister Nirmala Sitharaman, on Friday, said that the Bharatiya Janata Party (BJP) plans to reintroduce electoral bonds in some capacity following extensive consultations with all stakeholders, should it come back to power in the 2024 general elections, according to a report in the Hindustan Times (HT).

HT cited Nirmala Sitharam as saying, “We still have to do a lot of consultation with stakeholders and see what is it that we have to do to make or bring in a framework which will be acceptable to all, primarily retain the level of transparency and completely remove the possibility of black money entering into this.”

However, the Centre has not yet decided whether to seek a review of the ruling made by the Supreme Court (SC), she said.

She further added, “What the scheme, which has been just thrown out by the Supreme Court, brought in was transparency. What prevailed earlier was just free-for-all.”

Launched in 2018, electoral bonds were accessible for acquisition at any State Bank of India (SBI) branch. Contributions made through this programme by corporations and even foreign entities via Indian subsidiaries received full tax exemption, while the identities of the donors remained confidential, safeguarded by both the bank and the recipient political parties.

On February 15, a five-judge Constitution Bench struck down the scheme, deeming it ‘unconstitutional’ due to its complete anonymisation of contributions to political parties. Additionally, the Bench stated that the articulated objectives of curbing black money or illegal election financing did not warrant disproportionately infringing upon voters’ right to information.

FM Sitharaman said, some aspects of the scheme need improvement and they will be brought back following consultations.

She also lashed out at the Opposition’s claims that the BJP disregarded criminal charges against leaders who switched from other parties to join the ruling party.

The HT quoted her as saying, “The BJP can’t sit here and say, you come to my party today, and the case will be closed tomorrow. The case has to go through the courts that have to take a call; they will not just say, “Oh, he’s come to your party, close the case.” Doesn’t happen that way. So is this washing machine a term they want to use for the courts?”

She further said that the Union government plans to simplify the process of taxation and make it easy for investments to come through into the country.

Voting has begun in 88 constituencies across 13 states and Union Territories amid a furious row between the Congress and the BJP over manifesto and inheritance tax. Election will be held on all seats of Kerala, a chunk of Rajasthan and UP.

Key points

Elections for the second phase will be held for 20 seats of Kerala, 14 seats in Karnataka, 13 in Rajasthan, eight each in Uttar Pradesh and Maharashtra, seven in Madhya Pradesh, five each in Assam and Bihar, three each in Bengal and Chhattisgarh and one each in Jammu and Kashmir, Manipur and Tripura.

Earlier, 89 constituencies were expected to vote in this phase. But polling in Betul, Madhya Pradesh, was rescheduled after the death of a candidate from Mayawati's Bahujan Samaj Party. Betul will now vote in the third phase, due on May 7.

Key candidates for this round include the BJP's Union minister Rajeev Chandrashekhar  -- up against Congress' Shashi Tharoor from Thiruvananthapuram; actors Hema Malini, and Arun Govil from 1980s iconic serial Ramayan, senior BJP leader Tejasvi Surya and Lok Sabha Speaker Om Birla,  Congress' Rahul Gandhi, KC Venugopal, Bhupesh Baghel. and Ashok Gehlot's son Vaibhav Gehlot.

For both BJP and the Opposition, the most crucial states in this phase will be Karnataka and Kerala. Karnataka is the only BJP bastion in the south, where the Congress won in the last assembly election. The party is hoping to do well amid concerns about delimitation and the disadvantage southern states could face after it.

Further south, the BJP is trying to break into the bipolar politics of Kerala. The party is hoping to open its account in the state having fielded Union ministers Rajiv Chandrasekhar and V. Muraleedharan. In Wayanand, a Congress bastion for over 20 years, it has fielded its state unit president K Surendran against Rahul Gandhi.

For the Opposition, Kerala is a big shining hope. Even though the Left and the Congress are competing against each other in the southern state, victory by either will add to the tally of the Opposition bloc INDIA. Kerala is one of the few states that have never sent a BJP member to parliament.

With north, west and northeast India saturated, the BJP is hoping to expand in the south and east in their quest for 370 seats. The party had won 303 seats in 2019, a majority of them from the Hindi heartland and bastions new and old, including Gujarat and the northeast.

The Congress, though, has claimed it would post a much better performance compared to 2019. After the first phase of the election, their claims have got louder, especially in Rajasthan and western Uttar Pradesh. Rashtriya Janata Dal chief Tejashwi Yadav has claimed INDIA will win all five seats in Bihar.  

The election is being held amid a bitter face-off between the Congress and the BJP. The row was sparked by Prime Minister Narendra Modi's comment that the Congress, if voted to power, will redistribute the personal wealth of people among "infiltrators" and won't even spare the mangalsutras of women. The Congress has questioned if the people had to fear for their wealth and mangalsutras in 55 years of the party's rule and accused the BJP of sidestepping issues that matter.

The next phase of election is due on May 7. The counting of votes will be held on June 4 – three days after the seventh and last phase of election on June 1.

Ambikapur (Chhattisgarh): Prime Minister Narendra Modi on Wednesday hit out at the Congress, saying the 'vote bank hungry' party wanted to implement reservation on the basis of religion.

Addressing a poll rally in Ambikapur, the headquarters of Surguja district in Chhattisgarh, PM Modi also said the Congress wanted to impose inheritance tax in the country and snatch the rights of people's children.

Some forces want a "weak" government of the Congress and "I.N.D.I." alliance in the country as they thought that if India becomes 'atmanirbhar' (self-reliant), their shops will be shut, he said.

"Today when I have come to Surguja, I want to present the Muslim League thinking of the Congress in front of the country. When their manifesto was released, on the same day I had said, and saying today also that the Congress manifesto has the imprint of Muslim League," Modi said.

When the Constitution was being drafted, it was decided under the leadership of Babasaheb Ambedkar that there would be no reservation on the basis of religion in India, he said.

"If there will be reservation then it will be for by Dalit brothers and sisters and tribal brothers and sisters," he said.

"But the vote bank hungry Congress never cared about the words of the great personalities, sanctity of the Constitution and the words of Babasaheb Ambedkar. Years ago, the Congress made an attempt to implement reservation on the basis of religion in Andhra Pradesh. Then Congress has planned to implement it in the entire country," Modi said.

They talked about implementing 15 per cent reservation on the basis of religion and said it will be done after curtailing the quota of the Scheduled Castes, Scheduled Tribes and Other Backward Classes, he added.

In its 2009 manifesto, Congress's intention was the same and in the 2014 manifesto, it clearly said it will not leave this issue, the prime minister said.

The Congress wanted to change the Constitution and hand over rights of the SCs, STs and OBCs to its vote bank, he said.

The intention of the Congress is not good, it is not according to the Constitution, social justice and secularism. If anyone can protect your reservation, it is the BJP, Modi said.

"The Congress's eyes are not only on your reservation, but also on your earnings, your houses, shops and farms. The 'shehzada' of Congress (apparently referring to Rahul Gandhi) says they will conduct an X-ray of the property of every house and every family in the country. The Congress will snatch all these from you and they say that they will equally distribute them," he said.

Do you know to whom they will distribute it after 'looting' it from you? Modi asked, to which the people replied in affirmative.

"I need not to tell you to whom they will distribute," he added.

Modi further said the 'dangerous intentions' of Congress are coming to forth one by one and now it says it will impose inheritance tax.

"The advisor of shehzada of the shahi parivar, who was also the advisor to the shehzada's father, had said that more tax should be imposed on the middle class and those who earn by toiling hard. Now the Congress says it will impose inheritance tax. It will impose tax on the assets inherited by people from their parents. Now, the panja (Congress poll symbol) will snatch the assets from your children," he said without taking any name.

The Congress' mantra is 'loot of Congress zindagi ke sath bhi, zindagi ke baad bhi', he said.

"They (Congress) want to snatch your assets and rights of your children," Modi added.

The PM also said he had come to seek people's blessings for a developed Chhattisgarh and a developed India.