BY PARTH PATEL
Where did all the black money
go? To the banks! And they know who deposited it!
• 0.00011% of India’s
population deposited almost 33% of total cash in the country!
• Just 1.5 lakh people people
deposited Rs 5 lakh crore!
• 17.73 lakh cases where cash
transactions did not match tax profile
• Cash deposits of Rs 3.68
lakh crore in 23.22 lakh accounts under investigation
• Maze of shell companies
dealing in black money and hawala transactions uncovered
• In a surgical strike on
shell companies, 2.24 lakh companies struck off
• 58,000 bank accounts
belonging to 35,000 companies caught transacting Rs. 17,000 Crore after
demonetisation.
Did demonetisation really
impact terrorism and naxalism?
• Stone-pelting incidents in
Kashmir reduced by 75%
• Incidents of Left Wing
Extremism down by more than 20%
• 7.62 lakh counterfeit notes
detected
What did demonetisation do
for the middle class?
· New taxpayers increased
by 26.6%
· Number of e-returns filed
increased by 28%
· Good for the middle class.
As the tax base widens, tax rates will go down.
source: Narendra Modi - True Indian
How did demonetisation reduce
creation of black money?
· Cleaner economy through
‘Less Cash’ behavioural shift
· Demonetisation reduced high
denomination notes by Rs 6 lakh crore
· Number of digital
transactions increased by 58%
·
From
having a total of 15.11 lakh POS machines, more than 13 lakh POS machines were
added just in 1 year.
·
Did demonetisation hurt the poor?
• No, it pushed
formalisation, better jobs for the poor
• Direct transfer of salary
into bank accounts of workers
• Earlier these people were
paid minimum wages only on paper and denied benefits.
• 1.01 crore employees
enrolled with EPFO
• 1.3 crore workers
registered with ESIC
These are the real
achievements of demonetisation.
Most corrupt and powerful
people were impacted by demonetisation, including many politicians and the
media. They're trying to build a false narrative against demonetisation. They
want to teach a lesson to Modi so that nobody will have the courage to take any
bold decision against corruption in future.!
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