NEW DELHI: The BJP on Wednesday accused the Congress of being "incapable" of understanding the target of demonetisation.
"The Congress and those making comments on this have not understood the objective of demonetisation," charged Union finance minister Arun Jaitley in a press conference.
Jaitley alleged that the Congress had never tried to fight the menace of black money, and used to be lashing out on the saffron birthday celebration on account of their "inadequate understanding" of the placement.
"Those who have never fought black money in their lives were too happy with laundering of cash in the system, but consider the entry of cash into the formal economy after tax payment as laundering. This displays their inadequate understanding," said the minister.
He defined that money that used to be allegedly being laundered previous, used to be now getting deposited in banks. This money used to be now getting taxed and therefore, coming into the lawful device.
Jaitley clarified that "mere entry into the system doesn't legitimise" this money.
Instead, 18 lakh other folks were discovered to have deposited money disproportionate to their earning, and were now being held responsible to pay tax.
On November 8 ultimate 12 months, Prime Minister Narendra Modi had announced that foreign money notes of Rs 500 and Rs 1,000 would not be thought to be prison smooth. This 12 months, the day will probably be celebrated as 'Anti-Black Money Day' via the Centre, and as 'Black Day' via opposition parties.
"The Congress and those making comments on this have not understood the objective of demonetisation," charged Union finance minister Arun Jaitley in a press conference.
Jaitley alleged that the Congress had never tried to fight the menace of black money, and used to be lashing out on the saffron birthday celebration on account of their "inadequate understanding" of the placement.
"Those who have never fought black money in their lives were too happy with laundering of cash in the system, but consider the entry of cash into the formal economy after tax payment as laundering. This displays their inadequate understanding," said the minister.
He defined that money that used to be allegedly being laundered previous, used to be now getting deposited in banks. This money used to be now getting taxed and therefore, coming into the lawful device.
Jaitley clarified that "mere entry into the system doesn't legitimise" this money.
Instead, 18 lakh other folks were discovered to have deposited money disproportionate to their earning, and were now being held responsible to pay tax.
On November 8 ultimate 12 months, Prime Minister Narendra Modi had announced that foreign money notes of Rs 500 and Rs 1,000 would not be thought to be prison smooth. This 12 months, the day will probably be celebrated as 'Anti-Black Money Day' via the Centre, and as 'Black Day' via opposition parties.
The Congress birthday celebration is incapable of understanding the whole object in the back of the demonetization. FM @arunjaitley explai... https://t.co/5urgyhg7LV
— BJP (@BJP4India) 1508949905000
Congress 'incapable' of understanding aim of note ban: BJP
![Congress 'incapable' of understanding aim of note ban: BJP]()
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October 26, 2017
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