Demonetisation: Modi flips strategy and asks BJP MPs to submit bank account statements

New Delhi: Prime Minister Narendra Modi on Tuesday asked BJP MPs and MLAs to submit their bank account statements of transaction between 8 November, the day he announced demonetisation, and 31 December to party chief Amit Shah on 1 January, 2017.

Modi's direction at the BJP Parliamentary Party meeting came following allegations by opposition parties that the BJP had tipped off some of its own leaders ahead of the demonetisation announcement. In an apparent response to the charge that the bill to amend I-T Act will help turn black money into white, the Prime Minister said the amended Act will channel the money looted from the poor for their welfare.

The amended Act, he said, is a programme for the poor's welfare from Lok Kalyan Marg, the new name of the road where the Prime Minister's residence is located. "The amendment is not for turning black money into white but to spend the money looted from the poor on their welfare," he said.

Quoting Modi, Parliamentary Affairs Minister Ananth Kumar told reporters that the bill is part of his government's fight against blackmoney. A part of the tax collected on the money deposited under this scheme will be spent on electricity, roads, toilets and education among other welfare measures, he said.

sOURCE:-Firstpost

Demonetisation: PM Modi has created a new normal, will clean and expand economy, says Arun Jaitley

Official Narendra Modi has made "another normal" of white exchanges with crackdown on diminish cash, Finance Minister Arun Jaitley said on Monday, giving testimony regarding that demonetisation will actuate to a hop in private hypothesis and more open spending on welfare measures. Tending to BJP parliamentary amassing over the result o the choice, he struck Rahul Gandhi saying from one perspective the Congress pioneer says the demonetisation choice was especially spilled to BJP overpowering hitters and on the other he guarantees "that even Finance Minister, that construes I, was comparatively not cautious".

Talking finally, Jaitley cleared up all parts of the move and said, "Demonetisation has organize relationship with poor with destitution and with edginess encouraging" and said once the substitution of money fulfills a sensible level, th detainments will be supported.

Illustrating the conceivable positive results of this move, Jaitley said the nation reliably picks up Rs 4-5 lakh crore and after this move and these favorable circumstances can be utilized for open spending for movement of typical areas and stir of poor About Rs 8 lakh crore will be amassed from wage charge this year and Rs 8.5 lakh crore from circumlocutory commitment however despit that another Rs 4-5 lakh crore is required to hold up under costs for running the nation, he said.

"..so if the honest to goodness drive paying framework creates in the nation… then do we have to get cash… and in the cas these borrowings of about Rs 4-5 lakh crore reliably can be used as a piece of country spaces for despondency encouraging and othe equivalent measures," Jaitley included.

Source:- Indianexpress