Bengaluru (PTI): Karnataka Minister Priyank Kharge on Thursday alleged that Form 7 was misused under the previous BJP government to delete voters "en masse", ahead of May 2023 Assembly polls.

His remarks followed claims by Congress leader Rahul Gandhi, who cited Karnataka's example, that votes of party supporters were being systematically deleted ahead of elections.

Form 7 is an application for objecting inclusion of the name of the other person, or seeking deletion of one's own name, or seeking deletion of any other person’s name in the electoral roll due to death or shifting.

Earlier in the day, addressing a press conference in New Delhi, Rahul Gandhi accused Chief Election Commissioner Gyanesh Kumar of protecting "vote chors" and people who have destroyed democracy, and cited data from Karnataka's Aland Assembly constituency to support his claim that votes of Congress supporters were being systematically deleted ahead of elections.

In Aland segment, someone tried to delete 6,018 votes and got caught by coincidence, he said, alleging that the names of voters of the Congress were being deleted systematically.

Kharge said, "The Vote Chori trail in Aland (in Kalaburagi district) is a shocking case of large-scale voter deletion. Ahead of the May 2023 Assembly election, Form 7 was misused under the BJP government to delete voters en masse."

In a post on X, he claimed that a total of 6,018 deletions were attempted using automated software and fake logins.

He said, "Verification showed 5,994 were forged, only 24 genuine. 2,494 voters were actually deleted before the fraud was caught. Strong Congress booths, especially with Dalit and minority voters, were targeted."

In one instance, 12 voters were deleted in just 14 minutes, pointing to a "sophisticated vote chori factory", Kharge said.

In another case, the identity of a 63-year-old woman was misused to delete 12 voters.

Noting that the Karnataka CID, which is investigating the case has sent 18 letters to the Election Commission of India seeking IP logs, OTP trails, device IDs, and login details, he alleged that the EC has refused to share the critical data.

The Minister said this raises serious questions. "Who approved these deletion records? Where is the OTP audit trail? When will deleted voters be restored? Why is ECI refusing to cooperate with CID? Who is the ECI trying to protect?"

"When the fraud is this clear, what more evidence is the ECI waiting for? Whom are they shielding?" he asked.

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New Delhi (PTI): Finance Minister Nirmala Sitharaman on Sunday said the increase in STT in F&O is aimed at curbing high-risk speculative trade and discouraging gullible investors who were losing huge amounts of money in the derivatives market.

The Budget has proposed an increase in the Securities Transaction Tax (STT) on futures contracts to 0.05 per cent from 0.02 per cent.

STT on options premium and exercise of options are proposed to be raised to 0.15 per cent from the present rate of 0.1 per cent and 0.125 per cent, respectively.

Addressing a post-budget conference, Sitharaman said the government is not against derivative trade, but wants small investors, who are facing huge losses, to stay away from the speculative F&O market.

"This nominal increase is purely aimed at speculation, only to deter them, to discourage them. We are not against it (F&O trade), but small investors are facing losses, so how can we be quiet, so it (STT hike on F&O) is to deter such investments," Sitharaman said.

According to studies by Sebi, over 90 per cent of retail investors' trades in the F&O segment lead to losses, and the capital markets regulator has also taken steps to reduce volumes in the past.

Market regulator Sebi has also cautioned small and retail investors against trading in the F&O segment, underscoring the need for responsible investing.

Addressing questions on the intention behind the STT hike, Revenue Secretary Arvind Shrivastava said it has been done to discourage speculative tendencies and handle systemic risk in the derivatives market.

"The government's intention is to discourage speculative tendencies, and the increase in rate is essentially in that direction. So, it is meant to essentially handle the systemic risk in derivative markets," he added.

Shrivastava said even after this increase, the rates of STT will remain modest compared to the volume of the transactions that are happening.

The hike in STT is aimed squarely at high-volume derivative trading, rather than the cash equity market, and is expected to meaningfully increase transaction costs for active and short-term trading strategies.

Sitharaman further said the highest-ever capital expenditure of Rs 12.22 lakh crore announced for 2026-27 works out to be 4.4 per cent of GDP.

The capital expenditure for FY27 is 10 per cent higher than the Rs 11.11 lakh crore budgeted capex announced in FY26.

"We have announced that Rs 12.22 lakh crore is coming through public expenditure. This time it is 4.4 per cent of GDP, which is the highest at least in the last 10 years, it could even be the highest if you were to take data from earlier periods," Sitharaman said.

The capital expenditure was 2.5 per cent of GDP in 2021-22 and around 4 per cent of GDP in 2024-25. The government's capital expenditure was Rs 2.35 lakh crore in 2015-16.

She further said that the 4.3 per cent fiscal deficit target for FY27 is "realistic and responsible". The Budget has proposed to lower the fiscal deficit to 4.3 per cent in FY27, from 4.4 per cent in FY26.

Asked about the budget not making any big announcement for poll-bound states, Sitharaman said there are various announcements, including industrial corridors across the eastern and western parts of India. "So there is enough to cover election states and all other states," she said.