Can't fight elections, don't have money: Sitharaman

Union Finance Minister Nirmala Sitharaman on Wednesday said she declined the offer of the Bharatiya Janata Party to contest elections pleading that she did not have the 'kind of funds' required for fighting the Lok Sabha polls.

The minister said that the BJP president (J P Nadda) gave her the option to contest either from Andhra Pradesh or Tamil Nadu.

"After thinking over a week or 10 days, I just went back to say... maybe not. I do not have that kind of money to contest. I also have a problem whether it is Andhra Pradesh or Tamil Nadu. It's also going to be a question of various other winnability criteria that they use...Are you from this community or are you from that religion? Are you from this? I said no, I do not think I am going to able to do it," she said.

Sitharaman was speaking at the Times Now Summit 2024 New Delhi.

"I am very grateful that they accepted my argument...So I am not contesting," she added.

When asked why even the finance minister of the country does not have enough funds to fight Lok Sabha elections, she said that the Consolidated Fund of India does not belong to her.

She said, "My salary, my earnings, my savings are mine and not the Consolidated Fund of India".

The ruling BJP has fielded several existing Rajya Sabha members in the upcoming Lok Sabha elections, beginning April 19.

These include Piyush Goyal, Bhupender Yadav, Rajiv Chandrasekhar, Mansukh Mandaviya, and Jyotiraditya Scindia.

Sitharaman is a Rajya Sabha member from Karnataka.

The minister said that she will be campaigning for different candidates.

"I will also be attending a lot of media events. And going with the candidates like tomorrow I will be going for Rajiv Chandrasekhar campaign and so yes, I'll be on the campaign trail," she added.

'Nobody has moral authority to say anything on electoral bonds'

Sitharaman said that all major political parties have encashed electoral bonds and nobody has a moral authority to say anything as it was legal and according to law.

She also said that in view of the Supreme Court's judgment against electoral bonds, more debate is needed to come out with a better system for electoral funding.

Replying to a question at the summit, the minister said the law, which has now been quashed by the apex court, was passed by Parliament and the bonds were purchased as per the prevailing law at that time.

"It was passed by Parliament and based on the law, bonds have bought and encashed by all parties but one... Everyone has received from everybody, every donor has given everybody.

"The very party which now says well this is a scam, this is a scandal, had also taken money through the bonds. Tell me what moral authority anyone has to speak because it was the law then... it went lawfully. It was a step better than what prevailed earlier," Sitharaman said.

On what the new government can do in this regard, she said there is a need to understand how to better the system, which has been rejected now.

The system of electoral bonds was still better than the previous system, 'which is what we've gone back to now. We need to do something better, but a lot more work is required', she added.

Last month, a five-judge apex court bench, headed by Chief Justice of India D Y Chandrachud, said the electoral bonds scheme violates the right to information and the freedom of speech and expression under the Constitution.

She also rebutted the allegations of connections between ED (directorate of enforcement) raids and bond purchases, stating the raids have happened even on those companies that donated to the BJP through electoral bonds.

"ED raids still happen, it did not give them (companies) any immunity," she added.

The minister added that the law enforcement agencies are not acting with any political agenda as law pursues those who disobey it.

"Stop making political arguments over them," Sitharaman said.

On why the BJP is welcoming tainted politicians, she said the 'doors are open for all'.

"If people see work happening... and a party is making a difference, they obviously would want to come and join. But the BJP has value systems and the way in which the party runs under certain leadership. I don't think there is ever a compromise on that," Sitharaman said.

Replying to a question on Congress spokerperson Supriya Shrinate's comments against BJP Lok Sabha candidate Kangana Ranaut, she said it is 'outrageous' and 'abhorrent'.

She added that Shrinate should have tendered an unconditional apology.

A controversial comment was posted on social media platforms from Congress leader Shrinate's accounts against Ranaut, the Bollywood actor who has been fielded by the BJP as its candidate from the Mandi Lok Sabha constituency in Himachal Pradesh.

Following a row, Shrinate removed the controversial remarks from all of her social accounts, claiming that they had been posted not by her but by someone else who had access to her accounts.

The finance minister refused to call the arrest of Delhi Chief Minister Arvind Kejriwal a case of political vendetta.

The chief minister had not complied with number of summons sent by the ED, she said, adding that the governance has gone down the drain in Delhi as well as Punjab, the two states ruled by AAP.

Welcoming the minister, Times Group Managing Director Vineet Jain said from the political arena to the global economic stage, from diplomatic corridors to military frontiers, India is making its mark and shaping the future of the world.

"In the realm of politics, India's vibrant democracy has long stood as a beacon of hope and inspiration. With each election cycle, the citizens of India exercise their democratic rights, ensuring that their voices are heard, and their choices respected," he said.

He added that geopolitically, India is forging new partnerships and strengthening old alliances, cementing its position as a global leader.

"Through partnerships with countries across Asia, Africa, and beyond, our nation is expanding its influence and playing a pivotal role in shaping regional and global affairs. On the economic front, India's trajectory is nothing short of remarkable," Jain added.