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MUMBAI: Union finance minister Nirmala Sitharaman on Friday denied there was any quid pro quo in contributions to BJP through electoral bonds (EBs) and raids on corporates by ED.
In response to a question at The Economic Times Awards for Corporate Excellence in Mumbai, Sitharaman dismissed such allegations as loose talk. “Linking it (buying of bonds) with ED (action) is like sitting and having a cup of tea in the lounge and having a little merry chat,” she said.
“You don’t know where a donation went. Did they give bonds only to govt controlling ED or did they give it to govts run by other parties?” she said. “Do you know for each one of ED cases in this context, was it before or was it after? Maybe it was before, and even after that ED chose to go and visit those who came around & said, ‘I want to give donation, please save me’.”
There’s a lot of “homework” to be done on the bond data submitted by State Bank of India, the FM said. “You have a good two months to study it even as you are covering elections… and then come to a conclusion.”
She added, “I don’t want industry to be badnaam (maligned) like this. I don’t think they give donations only because they want to escape ED. It doesn’t happen that way. ED existed long before Modi and will exist till 2047, I’m sure, with all the Viksit Bharat”.
During a Q&A, Sitharaman elaborated on the “next-generation reforms” that she said govt would pursue post polls. “The reforms will have to be undertaken in every sector. But what is more important is that the reforms do not stop just at the central govt. We have worked with states in carrying forward several of the reforms,” she said.
She said states were not initially happy with the borrowing limits under Fiscal Responsibility and Budget Management Act. “Initially, there was resistance from the state govts but many states agreed to it in the first year.”
In response to a question at The Economic Times Awards for Corporate Excellence in Mumbai, Sitharaman dismissed such allegations as loose talk. “Linking it (buying of bonds) with ED (action) is like sitting and having a cup of tea in the lounge and having a little merry chat,” she said.
“You don’t know where a donation went. Did they give bonds only to govt controlling ED or did they give it to govts run by other parties?” she said. “Do you know for each one of ED cases in this context, was it before or was it after? Maybe it was before, and even after that ED chose to go and visit those who came around & said, ‘I want to give donation, please save me’.”
There’s a lot of “homework” to be done on the bond data submitted by State Bank of India, the FM said. “You have a good two months to study it even as you are covering elections… and then come to a conclusion.”
She added, “I don’t want industry to be badnaam (maligned) like this. I don’t think they give donations only because they want to escape ED. It doesn’t happen that way. ED existed long before Modi and will exist till 2047, I’m sure, with all the Viksit Bharat”.
During a Q&A, Sitharaman elaborated on the “next-generation reforms” that she said govt would pursue post polls. “The reforms will have to be undertaken in every sector. But what is more important is that the reforms do not stop just at the central govt. We have worked with states in carrying forward several of the reforms,” she said.
She said states were not initially happy with the borrowing limits under Fiscal Responsibility and Budget Management Act. “Initially, there was resistance from the state govts but many states agreed to it in the first year.”
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