FM Arun Jaitley defended the electoral bond scheme saying if donors are forced to disclose their names, the system of political-funding through cash and black-money will return. The Election Commission, in an affidavit before the SC which is hearing the matter, said electoral bonds have made political funding opaque and would have "serious repercussions on transparency of political funding", due to its anonymous nature.

National Conference leader Omar Abdullah hit out at Finance Minister Arun Jaitley for advocating repeal of Jammu and Kashmir's special status, saying any such talk will raise questions on the accession of the state to India as well. Omar Abdullah told reporters that BJP and its leadership would have to tread carefully on this issue and the terms and condition cannot be renegotiated.

The direct tax collections rose by 14.1% in the April-December period to Rs 8.74 lakh crore, in what could provide relief to the economy from a budget deficit. During the 9-month period, the refunds amounting to Rs 1.30 lakh crore have also been issued, an increase of 17% from the year-ago period, the Finance Ministry said in a statement on Monday.