Millennium Post

Modi govt has kept word on graft, black money: Amit Shah

Bharatiya Janata Party president Amit Shah congratulated Prime Minister Narendra Modi for his move on black money on Sunday. In a statement by Shah, he mentioned, “The Modi government has secured an unprecedented victory in its fight against black money.”

On the success of extracting black money worth Rs 65,250 crore through its Income Declaration Scheme 2016 by the NDA government, Shah mentioned that “in the history of independent India”, for the first time any government has been successful in such radical move. “In barely two-and-a-half years of its tenure, the Modi government secured for the exchequer black money, undeclared income and undeclared deposits worth approx Rs 1.40 lakh crore,” he added.

The incumbent party president also asserted that the money recovered from hoarders of black money will be spent on the welfare of villages, the poor, farmers and youth. Adding further he said, “The Modi government has been consistently successful in offering to the nation a corruption-free government and in its crackdown on black money.”

He also mentioned that, “The Prime Minister, Sri Narendra Modi ji, and the Finance Minister, Sri Arun Jaitley ji, congratulate the people of the country, especially crores of poor citizens, farmers and the youth, on the occasion.”

Prime Minister Narendra Modi had been asserting his aim to crackdown on black money right after assuming office. After the government formed in 2014 with the massive mandate the Cabinet approved the decision of forming SIT  on black money that the Supreme Court had demanded. The government has secured for the exchequer black money, undeclared income and undeclared deposits worth approx Rs 1.40 lakh crore. Through its search and survey campaigns, the I-T department recovered Rs 56,378 crore as undeclared income and Rs 1,986 crore in seizures in this duration.

Further, it has secured Rs 16,000 crore from those who do not file their income tax returns through the Non-Filers of Monitoring System mechanism.

Additionally, it was assessed that foreign bank HSBC had accounts worth Rs 8,000 crore in the names of Indians; this money has been recovered. Likewise, the International Consortium of Investigative Journalists had reported Indians to have stashed Rs 5,000 crore in tax havens abroad, which has been recovered, too. The IDS 2016 has, at the same time, helped recover Rs 65,250 crore from domestic assessees.
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