Demonetisation And Black Money

Fake currency, terror financing and black money are three evils and are like 'Jarasandha' (an antagonist in Mahabharat) and should be cut into pieces, the Centre told the Supreme Court while opposing the pleas challenging the 2016 demonetisation.

The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion, the Union government has told the Supreme Court.

On the fifth anniversary of demonetisation, Congress leader Priyanka Gandhi Vadra on Monday termed it a "disaster" and asked if the step has been successful, why hasn't corruption ended and black money returned to the country.

A 35-year-old man has been arrested for allegedly opening seven bank accounts with forged documents and routing black money to the tune of Rs nine crore through them during the demonetisation drive, police said on Friday.

Taking a dig on four years of demonetisation, Samajwadi Party chief Akhilesh Yadav on Sunday said fake currency notes are still in circulation and corruption has increased.

There is no such gold amnesty scheme under consideration of Income Tax Department as being reported in media, the sources said.

A report on the government's efforts to curb black money - prepared by a parliamentary committee chaired by Congress's Veerappa Moily - skips any mention of a specific amount of black money. A copy of the report that's with NDTV, says the methodologies being followed to curb black money are inconsistent and the results are contrasting.

West Bengal Chief Minister Mamata Banerjee on Wednesday accused Prime Minister Narendra Modi of converting huge black money into white through demonitisation and spending it to purchase votes.

Vice President Venkaiah Naidu has said economic reforms like GST, black money laws and insolvency code, brought in by the Prime Minister Narendra Modi-led government, are giving desired results and asserted that the country has a bright future. He also emphasized on the need for equal opportunities for men and women.

Picking on Prime Minister Narendra Modi's remarks that demonetisation was a "bitter" medicine to get rid of black money, Congress leader P Chidambaram today said it destroyed the Micro, Small and Medium Enterprises (MSME) and now the government wanted RBI to revive the sector.

In a stinging attack on the demonetisation exercise, senior Congress leader Randeep Singh Surjewala today dubbed it as the "biggest scam in independent India" due to which citizens lost their lives, jobs and life-long savings.

The Congress today demanded that Prime Minister Narendra Modi apologise to the country on Thursday, the second anniversary of the demonetisation announcement, for unilaterally attempting a "Tughlaqi" experiment that ended up "wrecking the economy and causing its people untold hardships".

Congress President Rahul Gandhi alleged on Monday that demonetisation in 2016 was carried out to "convert black money of a few rich people into white" and that Prime Minister Narendra Modi was a "magician" who performed this act.

Vice President M Venkaiah Naidu Monday said the "entire money" has come back to the banking system through demonetisation, and now it was up to the RBI and the Income-Tax department to identify how much of that is black money and how much is white.

As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.

Fake currency, terror financing and black money are three evils and are like 'Jarasandha' (an antagonist in Mahabharat) and should be cut into pieces, the Centre told the Supreme Court while opposing the pleas challenging the 2016 demonetisation.

The 2016 demonetisation was a "well-considered" decision and part of a larger strategy to combat the menace of fake money, terror financing, black money and tax evasion, the Union government has told the Supreme Court.

On the fifth anniversary of demonetisation, Congress leader Priyanka Gandhi Vadra on Monday termed it a "disaster" and asked if the step has been successful, why hasn't corruption ended and black money returned to the country.

A 35-year-old man has been arrested for allegedly opening seven bank accounts with forged documents and routing black money to the tune of Rs nine crore through them during the demonetisation drive, police said on Friday.

Taking a dig on four years of demonetisation, Samajwadi Party chief Akhilesh Yadav on Sunday said fake currency notes are still in circulation and corruption has increased.

There is no such gold amnesty scheme under consideration of Income Tax Department as being reported in media, the sources said.

A report on the government's efforts to curb black money - prepared by a parliamentary committee chaired by Congress's Veerappa Moily - skips any mention of a specific amount of black money. A copy of the report that's with NDTV, says the methodologies being followed to curb black money are inconsistent and the results are contrasting.

West Bengal Chief Minister Mamata Banerjee on Wednesday accused Prime Minister Narendra Modi of converting huge black money into white through demonitisation and spending it to purchase votes.

Vice President Venkaiah Naidu has said economic reforms like GST, black money laws and insolvency code, brought in by the Prime Minister Narendra Modi-led government, are giving desired results and asserted that the country has a bright future. He also emphasized on the need for equal opportunities for men and women.

Picking on Prime Minister Narendra Modi's remarks that demonetisation was a "bitter" medicine to get rid of black money, Congress leader P Chidambaram today said it destroyed the Micro, Small and Medium Enterprises (MSME) and now the government wanted RBI to revive the sector.

In a stinging attack on the demonetisation exercise, senior Congress leader Randeep Singh Surjewala today dubbed it as the "biggest scam in independent India" due to which citizens lost their lives, jobs and life-long savings.

The Congress today demanded that Prime Minister Narendra Modi apologise to the country on Thursday, the second anniversary of the demonetisation announcement, for unilaterally attempting a "Tughlaqi" experiment that ended up "wrecking the economy and causing its people untold hardships".

Congress President Rahul Gandhi alleged on Monday that demonetisation in 2016 was carried out to "convert black money of a few rich people into white" and that Prime Minister Narendra Modi was a "magician" who performed this act.

Vice President M Venkaiah Naidu Monday said the "entire money" has come back to the banking system through demonetisation, and now it was up to the RBI and the Income-Tax department to identify how much of that is black money and how much is white.

As the dust settles on the demonetisation episode, the data show it didn't weed out black money or cash gained through illegal means, which was a key objective of Prime Minister Narendra Modi's plan. On the plus side, there's been some widening in the country's dismal tax base, an increase in digital payments and a drop in fake notes.