Electoral Bonds: Self-Goal By YSRCP

In the Skill Development case, where a scam involving three thousand crores was alleged, the government under Chandrababu’s leadership reportedly spent 371 crores on this project. It is claimed that 27 crores ultimately ended up in the TDP’s account during the Skill Development scam investigation.

The Anti-Corruption Bureau (ACB) has made its argument, suggesting that the Skill Development Scam amounts to 371 crores, and filed a case against former Chief Minister Chandrababu Naidu as a key figure in the alleged scam.

It’s surprising that CBN, who is accused of conspiring in the scam, is referred to as A-37 in the case. When the ACB Judge repeatedly asked for evidence against CBN, the government presented a record of 27.5 crores transferred into the TDP account as Electoral Bonds.

Electoral Bonds are a financial instrument introduced by the Central government in 2017 to bring transparency to political party funding. These bonds are issued exclusively by the State Bank of India (SBI). Any individual or entity can purchase these bonds by depositing money, and they can then donate these bonds to a recognized political party of their choice.

In an attempt to implicate Chandrababu Naidu, the YSRCP found itself facing scrutiny, as substantial sums of money have reportedly flowed into the YSRCP’s account through Electoral Bonds and Prudent Electoral Trust.

According to reports submitted to the Central Election Commission, the YSRCP received 99.84 crores in 2018-19, 74.35 crores in 2019-20, 96.25 crores in 2020-21, and 60 crores in 2021-22, totaling 330.44 crores over four years. Additionally, 27 crores were received in 2018-19 through Prudent Electoral Trust.

It is estimated that the YSRCP has received over 270 crores from 2019-20 onwards. Given the allegations against the TDP regarding 27.5 crores, questions are raised about the YSRCP’s receipt of hundreds of crores through Electoral Bonds and Prudent Electoral Trust.