DeMo led to increase in tax collection, crackdown on shell companies: BJP

August 29, 2018 21:17

The BJP today accused the Congress of "misleading" the country on the issue of demonetisation, claiming that the exercise led to depositing of black money in banks, increase in income tax collection, crackdown on shell companies and a boost in digital payment.

The Congress had earlier demanded an apology from Prime Minister Narendra Modi for allegedly lying to the country, after the RBI said 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system.

Bharatiya Janata Party spokesperson Sambit Patra said black money found an address due to demonetisation, carried out in November 2016, and prompted the government to bring over 18 lakh suspect bank accounts under scrutiny.

Over 2.09 lakh non-income tax filers filed their returns and there was an 18 per cent increase in tax revenue, he told reporters. Over five lakh shell companies were closed down, he said.

Demonetisation led to formalisation of economy, and India has emerged as a growth engine of the world economy, he said quoting an international agency.

-- PTI

« Back to LIVE

TOP STORIES

Cong manifesto talks about reservation to Muslims: Modi

Prime Minister Narendra Modi on Thursday attacked the Congress over party president Mallikarjun Kharge's recent remark on Lord Ram and Lord Shiva, and accused the opposition party of trying to divide Hindus for its appeasement politics.

Licious eyes IPO in 24 months, 500 stores in five years

The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to...

Guess How Many Movie Tickets Were Bought!

More than 157 million Indians watched at least one film in the theatre in 2023.

Who Took The Best Catch? Vote!

A look at the best catches of the CSK vs PBKS match...

Typo Can't Be Basis For Denial Of Claim

The State Commission concluded the insurer could not take advantage of a typographical error on the bank's part to repudiate a legitimate claim, points out Jehangir B Gai.