Electoral Bonds not perfect but better, it is at least transparent, says FM Nirmala Sitharaman

Union Finance Minister dismissed claims of a connection between recent probe agency raids and the electoral bonds scheme as mere "assumptions." Addressing the India Today Conclave 2024, Sitharaman defended the government's move to introduce electoral bonds, stating that it has brought transparency to political funding.

"This matter is in court already. The verdict has come, submitted... One question comes to mind, was the earlier system 100% perfect...nahi.... At least white money goes to political parties. We moved to a transparent system...it's certainly not better but one-bit head," the Finance Minister said, as quoted by India Today.

Sitharaman's remarks came amidst controversies surrounding the electoral bonds scheme, which allows anonymous donations to political parties. Critics have raised concerns about the lack of transparency and the potential for misuse.

The 's statement also follows recent raids by probe agencies on individuals and entities allegedly linked to the electoral bonds scheme. However, Sitharaman dismissively referred to such claims as "assumptions."

Meanwhile, in a scathing attack on the BJP-led government, Congress leader labelled the electoral bond scheme as the "biggest extortion racket in the world" after the Election Commission published details of political funding through the controversial bonds, as per ANI.

Addressing the media during his 'Bharat Jodo Nyay Yatra', Rahul claimed, "Narendra Modi ran the world's largest extortion racket in the name of electoral bonds," as quoted by ANI.

He further alleged that investigative agencies like the ED and CBI are no longer autonomous but have become "weapons" in the hands of the BJP and RSS to target Opposition leaders. "The sovereign institutions