Facing the Opposition’s criticism for causing a slowdown to the economy, especially because of its decision to demonetise high-value currency last year, the Centre on Wednesday sought to polarise public opinion between those “for black money and those against it”.
Union Finance Minister Arun Jaitley told reporters that the government would observe November 8, the anniversary of the note-ban announcement, as “anti-black money day”.
Jaitley accused the Congress of “never taking a single step” to curb black money or the parallel economy. The Finance Minister underlined that note-ban was part of a series of policy measures to curb black money and corruption.
“The Congress, which has had ample opportunity of being in power, had reconciled to India having a shadow economy. Therefore, it is rather difficult for them to understand the intent and the objective behind this whole exercise. Cash is unidentified bearer money circulating in the system. Its ownership is not known. When cash gets deposited in the bank, what was laundered earlier enters the lawful system for which tax has to be paid,” said Jaitley.
Underlining that the BJP had constituted a Special Investigation Team into black money as per the Supreme Court’s directive, reworked double-taxation agreements with different countries, initiated steps to enact the black money law, etc, the Finance Minister stressed that demonetisation was a step in the same series. The BJP, he said, would welcome a debate “if it polarises public opinion” on who stands against and for black money in India.
“On November 8, one year will conclude after the Prime Minister announced demonetisation of high-denomination currency. The BJP and the PM have a clear policy that the black money economy should be eliminated. Therefore, the party has decided that on November 8, we will observe anti-black money day. All prominent leaders, ministers and State leaders will tour the country and educate people about the BJP’s agenda against corruption of which demonetisation has been a major part,” said Jaitley.
To a question about whether this event was planned because public opinion had not been favourable, Jaitley said, “I think the people of India are wiser than all of us sitting here. They know who wants to root out corruption. It has been proved by the resounding support the BJP has got in all elections held since demonetisation,” said the Finance Minister.