Report card: Modi government's fight against black money
6 years, 5 months ago

Report card: Modi government's fight against black money

India Today  

Fight against black money was one of the key manifesto promises of the BJP for 2014 Lok Sabha elections. In the last four years, the Narendra Modi government has taken a series of steps to check black money generation. Here is a report card of what all the government has done to combat black money as it prepares for 2019 Lok Sabha elections: Black Money and Imposition Of Tax Act The government has been able to recover black money of Rs 69,350 crore under the Income Declaration Scheme and Black Money and Imposition of Tax Act. The latest information on money parked in Swiss banks comes from a statement Finance Minister Piyush Goyal saying that the figure has dropped by 80 per cent since the Modi government came to power. Surge In Indirect Tax Indirect tax collection till November 30, 2017, was at Rs 7.35 lakh crore as compared to full-year target of Rs 9.27 lakh crore.

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History of this topic

India launched 163 probes under Black Money Act in 9 years: Centre informs Parliament
5 months, 1 week ago

India launched 163 probes under Black Money Act in 9 years: Centre informs Parliament

Hindustan Times  

India has launched 163 investigations and passed assessment orders in 652 cases, raising a demand of ₹17,162 crore in last nine years under the Black Money Act, the Centre informed the Parliament on Tuesday. In a written reply, Union minister of state for finance Pankaj Chaudhary said in Rajya Sabha, “As on March 31, 2024, orders u/s 10/10 of the …

From the India Today archives (2016) | Demonetisation: When the entire nation queued up
1 year, 7 months ago

From the India Today archives (2016) | Demonetisation: When the entire nation queued up

India Today  

The usually bustling vegetable and fruit market under the Maharashtra Agriculture Produce Market Committee at Vashi in Navi Mumbai wears a desolate look on Saturday, November 19. Various agencies have estimated black money at roughly 20 per cent of India’s GDP, at over Rs 30 lakh crore. But the move, unprecedented as it was, has also badly hit several sectors …

From the India Today archives (2016) | The pangs of demonetisation
2 years ago

From the India Today archives (2016) | The pangs of demonetisation

India Today  

The usually bustling vegetable and fruit market under the Maharashtra Agriculture Produce Market Committee at Vashi in Navi Mumbai wears a desolate look on Saturday, November 19. Various agencies have estimated black money at roughly 20 per cent of India's GDP, at over Rs 30 lakh crore. But the move, unprecedented as it was, has also badly hit several sectors …

From the India Today archives (2016) | Demonetisation 2016: Was it pain or gain?
2 years, 2 months ago

From the India Today archives (2016) | Demonetisation 2016: Was it pain or gain?

India Today  

The usually bustling vegetable and fruit market under the Maharashtra Agriculture Produce Market Committee at Vashi in Navi Mumbai wears a desolate look on Saturday, November 19. Various agencies have estimated black money at roughly 20 per cent of India's GDP, at over Rs 30 lakh crore. But the move, unprecedented as it was, has also badly hit several sectors …

Six years on, jury is still out on efficacy of demonetisation
2 years, 2 months ago

Six years on, jury is still out on efficacy of demonetisation

Deccan Chronicle  

NEW DELHI: The jury is still out on the efficacy of the decision to demonetise high value currency notes on November 8, 2016, with the government claiming it has helped greater formalisation of the economy while critics saying it has failed to curb black money and reduce dependence on cash. On November 8, six years ago, Prime Minister Narendra Modi …

Demonetisation helped curb black money: Narendra Modi
4 years, 2 months ago

Demonetisation helped curb black money: Narendra Modi

The Hindu  

On the fourth anniversary of demonetisation, Prime Minister Narendra Modi on Sunday said the move helped in reducing black money, increase tax compliance and formalisation of the economy. In a video, released as part of this campaign, Mr. Gandhi held demonetisation responsible for Bangladesh doing better than India in terms of economic growth and alleged that the move “destroyed” India’s …

Modi government’s surgical strike(s) on Black Money: A multi-pronged, systematic approach that has been cleansing corruption effectively
5 years, 8 months ago

Modi government’s surgical strike(s) on Black Money: A multi-pronged, systematic approach that has been cleansing corruption effectively

Op India  

“Everybody was so focused on magician’s right hand, that no one noticed him slipping the coin in his pocket with his left hand. At least now each and every conversation about Black Money would not end with Swiss Banks. This even by opposition’s claim means Demonetization killed black money of worth more than twice of what is deposited in Swiss …

RBI says 99.3% of demonetised currency is back: What went wrong with the government's black money hunt
6 years, 4 months ago

RBI says 99.3% of demonetised currency is back: What went wrong with the government's black money hunt

Firstpost  

That 99.3 percent of about Rs 16 lakh crore in the form of the banned Rs 500 and Rs 1000 notes have found their way back into the banking system has given Prime Minister Narendra Modi’s detractors the stick to beat him with. Apart from neutralising terrorists’ funds suspected to be largely held in these two high denominations notes – …

Finance ministry keeps lid on black money reports
6 years, 5 months ago

Finance ministry keeps lid on black money reports

Live Mint  

New Delhi: The finance ministry has refused to share copy of three reports on the quantum of black money held by Indians inside the country and abroad, saying its disclosure would cause a breach of privilege of Parliament. According to a study by US-based think-tank Global Financial Integrity, an estimated $770 billion in black money entered India during 2005-2014. So …

Rahul Gandhi takes on Modi, asks if the '50% increase in Swiss bank deposit by Indians' is white?
6 years, 6 months ago

Rahul Gandhi takes on Modi, asks if the '50% increase in Swiss bank deposit by Indians' is white?

ABP News  

2014, HE said: I will bring back all the "BLACK" money in Swiss Banks & put 15 Lakhs in each Indian bank A/C. pic.twitter.com/7AIgT529ST — Rahul Gandhi June 29, 2018 Annual banking statistics, 2017 https://t.co/7dFNkvG2l7 — Swiss National Bank June 28, 2018 New Delhi: Congress president Rahul Gandhi on Friday took on Bharatiya Janta Party government over 50% increase in …

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