Electoral bonds were a way to curb the use of black money in elections and usher in transparency but the Opposition spread lies about it, Prime Minister Narendra Modi said on Monday, as he laid out his vision for a developed India, hailed the Bharatiya Janata Party (BJP) for celebrating diversity, and expressed confidence of a victory in Lok Sabha elections beginning this week.

In an interview to news agency ANI, Modi also underlined his commitment to the poor and middle-class taxpayers, dismissed allegations that federal agencies were working at the government’s behest, and stressed on his administration’s commitment to simultaneous national and state elections.

“How can our elections be free from this black money? How can there be transparency? I had an honest and pure thought. We were looking for a way. We found a small way,” Modi said, referring to the political funding scheme that was scrapped by the Supreme Court last month.

“In decision-making, we learn and improve… But today we have completely pushed the country towards black money. And that is why I said everyone will regret it. When they think honestly, everyone will regret it,” he said.

“If there were no electoral bonds, then how are you getting a trail of money? Which company gave it? How did they give it? Where did they give it? Now, it could be a matter of good or bad…In decision-making, we learn and improve. It is possible to improve in this too.”

In the 78-minute televised interview, Modi also spoke about his vision for a developed India, young people, and especially taxpayers, highlighting that the number of people filing income-tax returns had doubled in the last decade. “Why is this happening? It is because of trust, that the money the person is giving is being used in the right place. For the sake of development, not for theft and looting,” he said.