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BJP to celebrate Nov 8 as 'anti-blackmoney day'

27 October, 2017, 00:41 | Author: Paula Vaughn
  • Finance minister Arun Jaitley addresses a press conference in New Delhi

"Instead of apologising for the death of over 150 people and unprecedented strike on the livelihood of common Indians, the BJP is so drunk with power that it wants to celebrate the "Demon of Demonetisation"," said the two Congress leaders.

The statement went on: "A government that came to power on the promise of bringing black money of Rs 80 lakh crore and depositing Rs 15 lakh in every Indian's account stands exposed today for its abject failure, utter falsehood and rampant corruption". Those who have never fought black money in their life were too happy with the laundering of the cash in the system, but consider the entry of cash into the formal economy after tax payment as laundering.

Senior Congress leader Anand Sharma on Wednesday also said that the central government's Rs 2.11 lakh crore bank recapitalisation plan, announced on Tuesday, coupled with the approval of highway projects worth Rs 7 lakh crore to spur the economy, is akin to giving a "bottle of glucose" to a patient on a "ventilator". This money was now getting taxed and hence, entering the lawful system. "Eighteen lakh people have been found to have deposited money disproportionate to their source of income". "Finance minister and Modi should tell the nation what amount of black money they could get after demonetisation", he added.

"Confiscation of money was never the objective of demonetisation".

"The results against black money can not be achieved by baby steps", he said adding this is why the economy is undergoing a transition process for the time being.

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"In contrast, the Finance Minister said demonetisation was a "very big step" that rendered India a less-cash country, affected a squeeze on the cash economy, digitalised commercial transactions and expanded the tax base". Prime Minister Modi had announced withdrawal of old Rs 1,000 and Rs 500 currencies from circulation on November 8, 2016. "The objective of this amendment was to curb the purchase of gold and jewellery for conversion of black money".

The BJP's move comes after around 18 political parties announced that they would observe November 8 as "black day" against the note-ban, which they termed as the "most ill-conceived and hasty decision" by the NDA Government. But, before that the idea of launching pro- demonetisation campaign is to puncture the Opposition's November 8 plans.

The Finance Minister said the BJP would carry forward the debate by the opposition to polarise people against black money through its own campaign.

Leader of Communist Party of India, D. Raja on Thursday asked the Government about the record of black money recovered after demonetisation.

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