In his biggest move post demonetization, Prime Minister Narendra Modi today asked all the BJP MPs and MLAs to give the details of their bank accounts to party chief Amit Shah by December 31, 2016.
To signal his commitment to his crackdown on tax evasion and corruption, PM has ordered all his party’s lawmakers to submit details of their bank records from November 8, when he announced a ban on high-denomination notes – to December 31, which is the deadline for submitting the outlawed notes.
Why this move by Prime Minister Narendra Modi Significant?
PM Modi’s instructions come as the government has proposed new tax rules for those who surrender black or untaxed money by the end of the year. 50% of the amount that is disclosed will be penalised and taxed. Sources in the BJP said Modi has asked his elected legislators to give details of their accounts from November 8 (the day demonetization was announced) to December 31, a day after the drive ends.
The directive to the BJP leaders was given at a Parliamentary Party meeting Modi attended today before Parliament met for another acrimonious day over demonetisation.
Both the Houses of Parliament were adjourned as soon as they met following uproar over the Opposition’s continued demand for Modi’s apology over his black money jibe. The Opposition has been demanding Modi’s apology since his statement last week that the Opposition is protesting note ban because they didn’t get time to park their illegal money.
What PM Modi said about opposition criticism of Demonetization move?
“There is a little criticism against the move. But those who are criticising it are saying that the government was not prepared to implement the decision. But that is not the real reason behind their criticism. They are sulking because the government didn’t give them enough time to prepare for it,” Modi had said.
The PM’s reform, widely praised as audacious, has, however, earned criticism for flawed execution. There isn’t enough cash to replace the notes that were withdrawn.
