Former Reserve Bank of India (RBI) governor Raghuram Rajan has found himself again in the midst of controversy after expressing concerns about the Centre's electoral bond scheme.
Rajan recently suggested that the scheme, aimed at political funding, tilts the balance in favour of the ruling party, posing challenges to a fair electoral process.
Under the current electoral bond scheme, donors can contribute to political parties without disclosing their identities.
However, Rajan argues that this veil of secrecy is not foolproof, as the government, through the State Bank of India, can potentially unveil the sources of Opposition funding.
As reported by Livemint, Rajan emphasised the imbalance created by this system, stating, “how are elections fought? They are fought with money. While the ruling party receives 'clean money' for election campaigns, the Opposition may have to resort to 'dirty cash,' leading to an uneven playing field."
His remarks come amid a scandal involving Congress Rajya Sabha MP Dhiraj Sahu, who is facing controversy following the recovery of Rs 351 crore linked to him during Income Tax Department raids.
However, Rajan's comments have faced criticism from various quarters, with individuals interpreting his remarks as rationalising the accumulation of black money by Opposition leaders.
The discourse on social media platforms has seen users questioning Rajan's stance and expressing scepticism about the potential impact on the electoral process.
Nayan Dwivedi is Staff Writer at Swarajya.
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