ukmalayaleeBack to Business

BJP to observe 'anti-black money' day on Nov 8

To counter opposition, the BJP will observe the first anniversary of demonetisation on November 8 as “anti-blackmoney day”.

Finance Minister Arun Jaitley told reporters on Wednesday that top ministers and BJP leaders will travel throughout the country to inform people about the steps the Modi government has taken to check the flow of tainted money.

Jaitley dubbed the initiative as a “priority programme” for the party, which comes after the Congress-led Opposition’s decision to observe the first anniversary of demonetisation as a “black day” to flag the cash crunch people had to face and the resultant economic slowdown.

“I think the Congress has not understood the concept of demonetisation. The ownership of cash is not known, it is an anonymous owner.

So when cash gets deposited in banks, what was being laundered earlier, now gets into the law books. So for entry into the lawful system, you are liable to pay tax,” said the union minister.