BJP to observe ‘Anti-Black Money Day’ on Nov 8, FM flays Cong
25 October, New Delhi
Senior BJP leader and Finance Minister Arun Jaitley on Wednesday lashed out at the Congress party for its inaction against black money during their days in power and announced that the ruling dispensation will observe November 8 as ‘anti-black money day’.
“The Congress party had reconciled to India living with a shadow economy. It is understandable that fighting black money would never be on political agenda of Congress leadership,” Finance Minister told a media conference at BJP headquarter here.
He charged that between 2008 and 2014 indiscriminate lending was allowed and the Congress party kept things under carpet and “continued to mislead people”.
Reacting to Congress and other regional parties stance that they would observe Black Day on November 8 for last year’s demonetisation of high-value banknotes, Jaitley said, “Congress had adequate opportunity to be in power, and I can’t recollect a single significant step that they ever took against black money”.
He said that central ministers and BJP leaders will travel across the country to highlight gains the demonetisation move as announced by PM Modi on November 8 in 2016.”Those who ruined the nation are now giving sermons,” he blasted out at the Congress and other parties as several opposition parties either jointly or separately have said that would observe November 8 as Black Day.
Asked whether Prime Minister Modi will also participate in the countrywide programme, he said”No final decision has been taken on who all will address and where will they address”.
Jaitley asserted that purposeful steps against black money can be taken only with determinedapproach as displayed by Prime Minister and the BJP-led NDA dispensation.”The results against black money cannot be achieved by baby steps,” he said adding this iswhy the economy is undergoing a transition process for the time being.
Asked how much black money has actually come back due to demonetisation, Finance Minister said the opposition parties lacked “adequate understanding” on the subject.”Note ban was aimed at less cash economy. Major objectives behind exercise already achieved,” he said.
“Mere entry of cash into the system does not legitimise it. Eighteen lakh people who have deposited money because the deposit dos bring an end to anonymity have been found as having deposited money disproportionate to their income. So now they are held accountable to pay tax,” he said.The Minister also clarified that “confiscation” of money was “never the objective” of demonetisation.He said, “squeezing the quantum of cash, increasing the tax base, increasing digitilisation and squeezing the resources of terrorists, detecting the counterfeit currencies” were the objectives.
“One we have the fundamentals on the subject correct, they (opposition parties) will be able to appreciate it better,” Jaitley said.Finance Minister accused the Congress of making India’s economy “hollow”.
He said, for BJP-led government that came to power in 2014 — the fiscal problem is “only a matter of legacy inherited from the Congress regime”.