Tags Posts tagged with "Notebandi"



November 8 is being celeberated by the BJP led NDA as the anti black money day today while the main opposition party Congress and its UPA allies are holding protest demonstrations and mobilisation campaigns to aware the people of the country about the negative effects of this alleged demonetisation monster which according to them has claimed roughly 400 lives and made over 4 lakh people jobless.

The opposition is calling it a Black day. The programmes in favour and against are being organised all over the country with Gandhi Family scion and Congress Vice president Rahul Gandhi terming demonetisation as a thoughtless and tragic decision that led to several casualties of the poor and doomed the future of lacs of the countrymen who’d lost employment while the Trinamool Congress Chief Mamta Bannerjee called it a DEMO DISASTER that ruined the lives and career of myriad population.

The BJP on the other hand is organising events, seminars and counter protests highly lauding the Demonetisation drive of prime minister Narendra Modi launched on 8th November last year terming it a dashing and dynamic initiative of PM Modi to crush the illegal and ill concieved designs of hoarders, black money launderers and anti national elements who had ruined the nation’s economy and integrity by running a parallel black economy on massive scale thus eating the very vitals of our economic foundation like dreaded termites.

It may be recalled that it was on 8th November today last year the prime minister Modi had all of a sudden declared a war on black money by appearing on national television and declaring that the government have since then invalidated the high denomination currency of 1000 and 500 rupees with immediate effect. There was confusion and commotion all around and banks n ATMs drawing long and unending queues with people of the country, in total disarray.

The entire electronic and print media was full of criticism of the decision terming it as arbitrary and anti people after experiencing the country wide plight and woes of the people, particularly those hailing from the poor, down trodden and the lower middle class sections of the society. Over 400 people had died due to standing in long queues for hours together and tension and over four lakh lost their petty jobs including those working in IT companies due to large scale retrenchment. The Lok Sabha and Rajya Sabha witnessed myriad uproarious scenes and walk outs bringing the government and PM Modi and FM Arun Jaitley in the state of fix, not able to face the ire of the Congress led NDA opposition.

The situation got resolved after more than two months to some extent and now fully, after the government at the centre claimed the huge success of demonetisation, acknowledging 14.5 lakh crores in the government’s kitty. However, the opposition calls it a bluff as it says that its the peoples’ money and black turned into white whereas the government claims to have recovered over 69000 crores worth of black apart from the above deposits.

Meanwhile, apart from the Congress, the CPI, CPIM, AIFB, RSP, CPIML, SUCI (C) and CGPI, Delhi State held a massive protest rally against failure of NOTEBANDI which has caused devastating effects on Indian Economy which led to job losses, decline in GDP, agri losses etc. NOTEBANDI caused trmendous decline in the peoples’ income but increased income of capitalists said the leaders of the left parties like CPIs A RAJA and ATUL KUMAR ANJAAN.

They said NOTEBANDI has led to severe losses to unorganised sector workers as well and MSME in particular suffered huge losses. Black money has become white money. Prices rise is the steepest as a result of this draconion step.
This Protest at RBI HQ at Delhi was addressed and led by Com. Atul Kumar Anjan, D. Raja M. P. national secretaries CPI, Com. Brinda Karat, Politbureau member CPIM, Com. G.Devrajan,General Secretary AIFB, Depankar Bhattachaya, General Secretary CPIML, R.S.Dagar,RSP, And SUCI (C) Secretary Com. Pran Sharma, CGPI Secretary Birju Naik.
This Protest rally was led by Dhirendra Sharma, Secretary, Prof. Dinesh Varshney Assistant Secretary CPI Delhi State, K. M. Tiwari, Secretary CPIM Secretary Delhi State, Com. Dharmandra Kumar VERMA, Secretary AIFB, Com. Kavita Krishanan,CPIML and others.



He said that incidences of pelting of stones and protests in J&K and naxal activities in affected districts have reduced as an impact of demonetisation as these miscreants have run out of cash.

Union Finance Minister Arun Jaitley said on Tuesday, 07 November 2017 that demonetisation is a turning point in the country’s economic history and has provided the next generation with a fair and honest system to live in.

In a blog 1,843 words long, Arun Jaitley said that, November 8, 2016 signifies the resolve of the government of India to cure the country from the disease of black money. He said that the day would be remembered as a watershed moment in the books of history of Indian economy. Doing an overall analysis, he said, it would right to say that the country has moved on to a more cleaner, transparent and honest financial system.

On the eve of the demonetisation, which invalidated 86 per cent of the currency in circulation, Mr. Jaitley said that it has met its objective of reducing cash in our economy, ending the anonymity of cash, brought more individuals inside the tax net and all the while dealt a blow to black money holders.

He said that the benefits of the move may not yet be visible to some people but the next generation of India would view the decision with a great sense of pride.

On November 8 2016, Prime Minister Narendra Modi had announced the demonetisation of Rs.1,000 and old Rs.500 notes for fighting corruption, removing black money, cutting terror funding and removing fake currency in one stroke. Total currency worth Rs.17 lakh crore approx. was in circulation in country on November 8 2016. Around Rs.15 lakh crore worth of currency was withdrawn and as on June 30, 2017, approx. Rs.15 lakh crore has been deposited back in banks.

Mr. Jaitley said that post demonetisation, the currency in circulation is less by more than Rs.3 lakh crore. This meets with the objective of less cash economy in order to reduce the flow of black money in to the system.

The removal of anonymity has led to 56 lakh new individual tax payers who are filing returns this year and self-assessment tax paid by non-corporates has increased by 34%. The leads gathered during demonetisation period have led to the identification of 2.9 lakh suspected shell companies and 2.24 lakh companies were de-registered as a result. Actions were taken to freeze their bank accounts. He said that more than 28,000 companies had deposited and approx. withdrawn Rs.10,000 crore from 50,000 bank accounts before they were struck off.

The Income Tax Department took action against more than a thousand shell companies that were used by over 22,000 beneficiaries in laundering more than Rs.13,300 crore. To stop further money laundering, SEBI has introduced a Graded Surveillance Measure at stock exchanges.

He said that incidences of pelting of stones and protests in J&K and naxal activities in affected districts have reduced as an impact of demonetisation as these miscreants have run out of cash.

He also said that demonetisation led to a leap in digital payments. And more than 350 crore transactions, valued at around Rs.6.6 lakh crore were carried out through credit cards and debit cards. The value of transactions for debit and credit cards was Rs.4 lakh crore during 2015-16.

Jaitley said that, with the return of cash in the banking system, now almost entire cash holding in the economy can be tracked. This inflow includes suspicious transactions ranging over Rs.1 lakh crore. The tax administration is now using data analytics to find and crack suspicious transactions.