Saturday, 25 November, 2017

India's ruling party to observe November 8 as "anti-black money" day

Minister Arun Jaitley Minister Arun Jaitley
Erik Tate | 26 October, 2017, 00:55

The Congress today dubbed as a "crude joke" with the people the BJP's plan to observe November 8 as "anti-blackmoney day" and alleged that it is an attempt to divert public attention from the government's "failures" and "betrayal".

Announcing the party's decision to counter the opposition plans for observing the day as "Black Day", Finance Minister Arun Jaitley Wednesday said all prominent leaders, union ministers, state ministers and office bearers will participate in programmes across the country. "The steps taken by National Democratic Alliance government are not small", he said.

According to Jaitley the move is aimed at highlighting anti graft steps taken by the federal government.

Jaitley listed out steps, including constitution of an SIT, benami law and reworking of Indias double taxation avoidance agreement with some countries besides demonetisation to argue that the government has been working to curb black money. When the NDA government came to power (May 2014), Prime Minister Narendra Modi took steps to minimise and end it. "The Finance Minister should have used the words before understanding it", he added.

"Agreements with Mauritius and Cyprus that allowed round tripping of money have been reworked".

United Kingdom interest rates set to rise as inflation hits 3%
The pound was little changed by the inflation numbers as most investors have already priced in a likely November rate hike. Many economists still remained confident that Carney and co would still hike rates at their coming meeting.

Attaching a tweet posted on Tuesday by the Press Information Bureau, the government's official publicity wing, which said that real GDP growth average was 7.5 per cent in the last three years, Rahul posted: "Dear Jaitley, May the Farce be with you".

"Various bank accounts were illegal and cases were filed against the holders".

The finance minister also said that post the implementation of goods and services tax in the nation, a new transition phase had heralded in the country, which would make cash generation hard. "All the three steps were the positive results of demonetisation and along with GST it would make cash generation hard".

"The Congress had adequate opportunity to be in power".

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