New Delhi: Congress chief P Chidambaram released a scathing assault at the Centre and Finance Minister Arun Jaitley at the anniversary of the notes ban decision today asking whether it became ethical to heap distress on tens of millions of human beings. No one may want to deny that lives and jobs were lost because of the notes ban the former Union finance minister said today. A day after Mr Jaitley said the demonetisation choice became an ethical drive and a moral step Mr Chidambaram took him on in a series of tweets. FM says demonetisation turned into moral . Was it ethical to heap misery on millions of human beings mainly 15 crore daily salary earners? He asked.The former finance minister requested if it become ethical to break 15 lakh regular jobs at some point of January and April 2017 and force hundreds of micro and small businesses to close down? Was it ethical to offer an easy manner for changing black money into white as now discovered by means of the authorities? He stated.The former finance minister also asked whether or not it turned into ethical to harm vibrant business hubs like Surat Bhiwandi Moradabad Agra Ludhiana and Tiruppur. A yr after the demonetisation decision Mr Chidambaram additionally released a frontal assault at the Modi authorities and said On demonetisation Black Day read real-lifestyles testimonies say a prayer for the thousands and thousands who suffered. He referred to that thousands and thousands of people had suffered because of demonetisation. Could each person deny he requested that lives and jobs have been lost and small groups closed? He said the cash of Rs 15 lakh crore with the general public might quickly reach the November 2016 degree of Rs 17 lakh crore.According to Mr Chidambaram synthetic discount of cash in move is one of the reasons for decrease call for and decrease increase. In hobby of transparency authorities/RBI have to release RBI Board s schedule history observe and (former Governor) Dr Raghuram Rajan s observe. If authorities is assured of its decision why does it worry releasing those files? Prime Minister Narendra Modi had announced demonetisation of Rs 1 000 and Rs 500 notes as a measure to fight black money corruption fake forex and terror funding on this day ultimate yr. The competition is looking at Black Day today.The government Mr Chidambaram said claimed that money was removed. But you will locate the eliminated black money whilst the Gujarat election campaign starts he delivered. Modi s foreign money gamble damaged Indian economic system says the BBC. Is BBC a supporter of black cash and corruption? He asked.
By: Express News Service 9 2017 three:forty nine am Former Finance Minister and Congress leader P Chidambaram. (Source: PTI Photo/File) Related News VIDEO: This WhatsApp institution celebrated Rs 2000 notice s BIRTHDAY and it's far downright HILARIOUS!Demonetisation anniversary: This less-cash concept will alternate country s economic system at some point says NaqviNote ban helped pressure against anti-corruption says CBI on demonetisation anniversaryThe Congress on Wednesday requested Prime Minister Narendra Modi to apologise to the kingdom for destroying India s boom tale shutting down companies and rendering crores jobless through the twin moves of demonetisation and GST because it determined a Black Day throughout the u . S .. Senior chief P Chidambaram slammed Finance Minister Arun Jaitley asking whether it become moral to heap distress on hundreds of thousands of human beings. Defending demonetisation Jaitley had on Tuesday stated it become a morally and ethically accurate step. The Congress held black-band protests throughout the u . S . And took out candlelight processions at eight pm. The Left events too staged a protest in Delhi. Chidambaram stated no one should deny that lives and jobs were misplaced due to the note ban and small corporations were closed. The Finance Minister says demonetisation was ethical . Was it ethical to heap distress on millions of people specially 15 crore each day salary earners? Was it ethical to spoil 15 lakh normal jobs for the duration of Jan-April 2017? Was it ethical to force hundreds of micro and small groups to shut down? Was it ethical to harm colourful business hubs like Surat Bhiwandi Moradabad Agra Ludhiana and Tiruppur? Was it ethical to offer an clean manner for converting black money into white as now found by using Govt? Chidambaram asked in a sequence of tweets. The former Finance Minister requested the authorities and the RBI to release RBI Board s agenda history note and former RBI Governor Raghuram Rajan s notice inside the hobby of transparency. If govt is confident of its selection why does it worry liberating those files? He asked. Rejecting the authorities s declare that demonetisation has eliminated black money he said Let the Gujarat election campaign start and you will discover the removed black money. Addressing reporters at the AICC headquarters the party s communication branch head Randeep Surjewala requested the PM to apologise. The complete effect of the double whammy of demonetisation and GST is now being felt across the united states of america. It isn't always the Congress on my own that's saying it. It is the opinion of each economic professional that the double whammy of the disastrous choice of demonetisation as also the unthoughtful and unprepared implementation of the GST has caused a surgical strike on India s economic system. It has destroyed now not best India s boom tale however has additionally rendered crores of people jobless. Businesses have close down. And this is some thing Prime Minister should apologise for. It might were better had Modi and Finance Minister Arun Jaitley apologised and admitted that they have committed a chief mistake. But it seems that the Prime Minister is so inebriated at the arrogance of electricity that he's refusing to look reason he stated. Addressing the protest through six Left events CPM Poliburo member Brinda Karat stated the authorities had set data making humans lose their lives in queues and supporting hoarders trade black cash into white. For the first time inside the records of India a government is celebrating the deaths and the sufferings of humans she stated. For all of the cutting-edge India News down load Indian Express App More Related News Notebandi no issue now GST had minor effect: Satpal Singh Satti Decisive warfare fought and gained says PM Modi on Demonetisation anniversary Tags: Demonetisation
Senior recommend P Chidambaram backed the Delhi authorities in the Supreme Court on Wednesday in its bitter tussle with the valuable government over who have to have the final say on governing the National Capital Territory. He stated the LG have to act as according to the recommendation of the Council of Ministers which in turn became accountable to the popularly elected House. Round one of the struggle were already gained through the Centre with the Delhi High Court earlier ruling in its favour. The Delhi government has for the reason that appealed to the pinnacle court docket in opposition to the choice. A five-choose bench led by using Chief Justice of India Dipak Misra is listening to its appeal. On Wednesday senior Congress chief Chidambaram appeared in the top court docket for the first time for the Delhi government. It is the LG s obligation to behave beneath the advice of the Council of Ministers in a Cabinet shape of presidency Chidambaram argued.
NEW DELHI: Challenging the high court verdict that dominated Delhi s Lieutenant Governor or LG became the countrywide capital s administrative boss the Supreme Court these days heard senior Congress leader P Chidambaram argue that the LG isn t the Viceroy of the British Crown that he have been made out to be but simplest the President s representative with a much narrower mandate.Mr Chidambaram acting for AAP s Arvind Kejriwal authorities earlier than the top courtroom s constitution bench stated the LG could not take a seat over documents or routinely refer a choice to the President in case of distinction of opinion. He first had to are trying to find a explanation from the elected government or ask them to rethink.The former Home Minister is one of the 9 legal professionals coated up by means of the AAP authorities to argue before a five-judge charter bench that is hearing petitions via the town government that accuse the centre of misinterpreting the Constitution to devour into its authority and block decisions.Mr Chidambaram was a wonder addition to the battery of attorneys appearing for the government led through Arvind Kejriwal. As an anti-corruption activist and later after floating the Aam Aadmi Party Mr Kejriwal had been a bitter critic of the UPA authorities and at odds with Mr Chidambaram.When Mr Kejriwal first made the LG isn't a Viceroy remark back in February 2014 it was the UPA government that had been on his radar. He hadn t been allowed to table the Jan Lokpal bill within the state legislature and determined to end.In his resignation speech from the AAP headquarters Mr Kejriwal said: Does the Centre suppose they're angrez (colonial British rulers)? The Lieutenant-Governor thinks he's the Viceroy . Mr Chidambaram changed into then the Finance Minister the Congress Sushil Kumar Shinde the Union Home Minister and Najeeb Jung the Delhi Lieutenant Governor. It is a price that Mr Kejriwal has made on several events on the grounds that then.In the Supreme Court nowadays Mr Chidambaram advised the pinnacle court to ensure that its choice have to reflect the principle of democratic governance and the interpretation must now
http://site-1262849-9251-184.strikingly.com/ not weaken democracy.
New Delhi: Former Finance Minister P Chidambaram has counseled that the media ask the government for launch of his reply to Congress leader Sonia Gandhi who had reportedly asked him to look at the allegations of harassment of private company First Global the financiers of Tehelka . Tehelka magazine had exposed alleged corruption in defence deals in the course of the Atal Bihari Vajpayee-led NDA government which later resulted in the resignation of then defence minister George Fernandes.The then BJP president Bangaru Laxman who became caught on digital camera taking cash changed into convicted later.Following the reveal some of instances had been registered in opposition to promoters of First Global Devina Mehra and Shankar Sharma by using diverse research groups.When the UPA authorities assumed office in 2004 Mehra and Sharma wrote a letter to Gandhi who was the chairperson of the National Advisory Council with the rank of a Union Minister alleging that persecution via the corporations turned into persevering with even then and sought redressal.Appending First Global s letter Mrs Gandhi on her reliable letterhead wrote to Mr Chidambaram asking him to look at the problem on priority which will make sure that no unfair and unjust treatment is meted out within the case.Reacting to media reports on the matter Mr Chidambaram in a announcement stated he have been shown a duplicate of the letter written with the aid of Mrs Gandhi. My noting on the letter is correct. I am positive that on behalf of the (Finance) Ministry I could have despatched a reply based at the material put as much as me. The letter of Mrs Gandhi and my reply must be study together. I advocate that the media may additionally ask the government to launch the reply to the letter he said.
New Delhi: On demonetisation anniversary senior Congress leader P Chidambaram released a scathing attack at the Modi government and in a string of tweets nowadays morning stated that no one can deny that lives had been misplaced small agencies closed and jobs have been lost due to demonetisation.Former Union finance minister said in this black day human beings need to study actual-lifestyles tales and say a prayer for the hundreds of thousands who suffered . Black cash eliminated says Govt. Let the Gujarat election campaign begin and you will locate the removed black money (sic) he said in a sequence of tweets.Can someone deny lives had been misplaced small organizations closed and jobs have been lost?- P. Chidambaram (@PChidambaram_IN) November eight 2017Black money removed says Govt. Let the Gujarat election campaign begin and you'll find the eliminated black cash.- P. Chidambaram (@PChidambaram_IN) November eight 2017Mr Chidambaram claimed that synthetic reduction of cash in stream is one of the motives for lower demand and decrease boom. He additionally claimed that money with the public is Rs 15 lakh crore and it's miles increasing and will soon attain the November 2016 degree of Rs 17 lakh crore.He said how much coins (cash supply) there ought to be is a decision of the RBI now not the government. In hobby of transparency authorities/RBI must release RBI Board s time table heritage word and (former Governor) Dr Raghuram Rajan s note. If authorities is confident of its choice why does it worry freeing those documents? He requested.While the Opposition is concentrated on it as a Black Day the government is celebrating the primary anniversary of the notes ban as anti-black cash day . Prime Minister Narendra Modi tweeted a seven-minute movie early on Wednesday morning that he stated encapsulates the benefits of demonetisation additionally mentioning that a hundred twenty five crore Indians fought a decisive struggle and WON. In an effort to fight corruption and black cash Prime Minister Narendra Modi had all at once banned high value notes of Rs 500 and Rs 1 000 a 12 months ago these days. The notes ban which yanked nearly 86 per cent of the forex in circulate at the time has been mentioned by specialists as one of the essential motives for the financial lull which noticed boom plunge to a three-yr low of 5.7 in step with cent in the last region.
In an interview with Supriya Shrinate of ET Now former Finance Minister P Chidambaram says demonetisation may additionally have modified the behaviour of to a few million humans definitely and they're now paying taxes however is that sufficient to offset the misery it has unleased on one hundred crore human beings? Edited excerpts: One of the arguments offered via the Finance Minister for demonetisation is cracking down on shell corporations. What is your view? He should
http://sonicsquirrel.net/detail/playlist/billackering%20haninge/1152 have cracked down on shell organizations with out demonetisation. All that one needed to ask became -- are they submitting returns? Do they have a board of directors are they compliant with the Company s Act? If no longer you may have virtually de-registered them and thus frozen their bank debts and requested them to account for the money in their bank debts. Why did you need to heap distress upon millions and thousands and thousands of humans simply to crack down on shell corporations? If they'd long gone to any business enterprise attorney he would have told you a way to crack down on shell groups. Therefore factor one is rejected. One of the opposite arguments the finance minister speaks approximately while he defends demonetisation is that new tax payers have come into the fold. Numbers quoted by means of him suggests fifty six lakh new individual tax payers filed their returns up until August fifth of this yr which changed into the closing date to individual tax payers as opposed to 22 lakh closing year. Are you going to disclaim the fact that in the long-term perhaps demonetisation has pointed us toward constituency of tax players who should were paying taxes but were no longer paying so? It is possible. It is viable that there is a upward thrust in tax payers but take a look at 2004 to 2009 there was a upward
https://justpaste.it/1cry0 thrust in tax payers additionally. We went after the non-filers that is individuals who do now not file at all. A large number got here into the fold. We went after stopped filers. People who filed and then stopped. A large variety got here into the fold. Therefore there are approaches to carry non-filers and stopped filers back into the machine. But allow me for the sake of argument receive that demonetisation along with other measures has introduced in some greater humans to file. The numbers are only 15% over the previous yr but that has came about in the beyond also. But I am not grudging the upward push of 15% however the check is -fold. One is in line with Arvind Subramanian the CEA the average amount of income returned is Rs 2.7 lakhs of the new filers that's barely above the brink primary. Number how a lot of those filers becomes stopped filers next year can best be tested inside the next two-3 years. But the quantity involving suspicious transactions based on numerous estimates range from Rs 1.Sixty seven lakh crore to Rs 1.7 lakh crore. Now of course there may be information analytics and tax branch officials are looking into it. They are seeking to see that quantity. Is not that also going to feature to the tax bounty ultimately? We can't speculate on that. I set up the FIU the Financial Intelligence Unit which captures suspicious transactions and reports to the CBDT. Millions of pieces of data come for which they nevertheless say a few hundred and send it to the CBDT. Of the few hundred which might be sent to the CBDT CBDT is able to take in say more than one hundred a 12 months. That is all the capability that CBDT has to go after these STRs. Today perhaps there are greater STR reviews coming extra pieces of information. It is only while all this is distilled and you reduce the range and the CBDT is going after them you'll in the long run understand what is the game in tax. We are counting our bird earlier than they're hatched. All this facts become there earlier than demonetisation is there after demonetisation but allow us to see what the effects are. Do not remember your bird before they may be hatched. Do now not say Rs 1.67 lakh crore is my earnings. Explain this to me seemingly the currency in movement vis-à-vis eighth November 2016 whilst it changed into announced to 8th November 2017 is down by way of about Rs three.89 lakh crore. It factors out to the route that we perhaps are much less coins extra digital economy. We have additionally seen UPI transactions go up. We have visible a leap in credit and debit card utilization. Are you going to rue the reality that we're a much less cash and a extra digital economy? Yes coins did rebound I am not going to dispute that however there was an upswing in non-coins as properly. Part of your facts is correct part of that is incorrect. The records that is proper is cash to GDP became about 12%. Now it has come down to approximately 8 factor some thing. There is a decline in cash to GDP. Where the argument fails is whether or not it suitable or terrible? Why do you assume that if the cash to GDP ratio declines it is ideal or if coins to GDP ratio will increase it is bad. I will inform you why? I will let you know why am I pronouncing that I am sorry to You can say that. I will inform you why it is not you can not draw any end. I could be the devil s propose and primary inform you what the authorities s argument is. The authorities defends that through saying that much less coins or much less cash in circulation or less coins to GDP method there is much less nameless source of funding inside the financial system. Cash is nameless. Cash can be black cash. That is a suspicious argument. I will tell you why. Two reasons coins to GDP is a degree of the cash supply -- how tons cash deliver ought to be there to sustain 6% 7% boom or 8% growth this is the matter for the RBI to determine. In truth there is a powerful argument that the sudden reducing of coins to GDP has reduced call for that is one of the motives why the GDP increase isn't picking up as a good deal because it must if all other things be identical. Data factors that there was an boom in financial savings whether or not it's far in mutual finances whether it is coverage charges or bond markets and it says how the premia went up for coverage groups from November 2016 or internet inflow into mutual funds went up with the aid of a hundred and fifty five% yr on 12 months within the financial year. Corporate bond issuance grew at Rs 1.Seventy eight lakh crore. You have been a champion of formation of the economic system itself. Will you not as a minimum reduce them slack on this one? Listen. I will cut slack however let us understand why money is flowing. The cash became with the general public. You then said in case you keep it to your hand it's miles worthless pressured them to deliver it to the banks. Now the banks have decreased the deposit costs. When banks started out lowering the hobby charge money began flowing out of banks into different avenues different units that is one of the motives why in the stock market the PE ratio has long gone to 27. Are you seriously suggesting that during India s economic system so robust that it could sustain or justify a 27 PE ratio. What consistent with you is the overall cost of demonetisation? By any estimate GDP has fallen 1.Five%. Look at the final six quarters 9% 7.Five% 7% 6.1% 5.7% -- this is the decline over six quarters which means between November final yr and say the April May June of this 12 months. The decline is from 7.1 to five.7 a 1.4% decline that is Rs 2.25 lakh crore is the hit on GDP. Number two it hit gross fixed capital formation and the third is the easy act of demonetisation. RBI numbers display that they spent Rs 21 000 crore in coping with the mechanics of demonetisation which include printing of notes. The calculable value of demonetisation is at least 2.25 lakh crore. Be candid and tell me there was no fine collateral of demonetisation by any means? That is hard to assume. No I am now not saying that. The handiest nice is that it has to a point affected behaviour. There are individuals who say listen perhaps the results of averting tax are too high risks are too high allow us to alternate our behaviour. It has applied to the tax payer magnificence perhaps one million humans maybe million human beings. Let us say even million human beings 3 million human beings behaviour has been positively affected however the moral query is which will trade the behaviour of two or three million people do you keep distress on nearly 100 crore humans? No elected government has a proper to harm massive sections of its populace. That is a right best available to dictators.
NEW DELHI: Soon after a information channel mentioned that the Arvind Kejriwal authorities has covered up Congress leader P Chidambaram to appear for it inside the Supreme Court in a case to determine the executive powers of the elected authorities of Delhi visà-vis the lieutenant governor Delhi PCC leader Ajay Maken despatched out a loaded tweet. Congratulations! @PChidambaram_ IN -You had been exonerated with the aid of your one-time critic @ArvindKejriwal and AAP! Would AAP now apologise? Said Maken s tweet. Incidentally the Kejriwal-Anna Hazare motion had branded Chidambaram amongst a dozen politicians in a listing of most corrupt politicians . The Congress together with its Delhi PCC has been continuously chiding the AAP regime over its chronic tussle with the L-G. Maken additionally retweeted an vintage tweet of Nagendar Sharma (presently an resource of CM Kejriwal ) which said Poor Delhi Congress leaders demand movement towards BSES but their Sr leaders Chidambaram
No comments:
Post a Comment