Opposition, government spar over demonetisation and its utility

     Written by : IANS | Wed, Nov 09, 2016, 10:26 AM

Nela Ticket Making Video Goes Viral

New Delhi, Nov 9 : Opposition parties including the Congress, CPI-M and AAP on Wednesday questioned the decision to demonetise Rs 500 and Rs 1000 notes while the government said that tax collections will go up considerably in the medium-to-long term as more people will come under the tax net due to the move.

The Communist Party of India-Marxist dubbed the move as "posturing" while the Aam Aadmi Party described it as a "Tughlaki farman" of the government.

Congress Vice President Rahul Gandhi questioned the move asking how replacing Rs 1,000 notes with Rs 2,000 notes was going to help fight black money while former Finance Minister P. Chidambaram supported the move but raised issues about its implementation.

However, defending the move, Union Finance Minister Arun Jaitley said: "In the medium and long term, direct and indirect tax collection will increase. Lot of currency outside the banking system perforce will have to get into the system."

"But how much currency in the market comes back into the banking system, we will come to know only with time," he said at a press briefing, adding that he expected the supply of high denomination currency notes to stabilise in three-four weeks.

In a surprise move, the government on Tuesday announced that Rs 500 and Rs 1,000 currency notes were being demonetised. Instead, new notes of Rs 500 and Rs 2,000 denomination will be issued.

Jaitley said the step by the government to crack down on black money, terror financing and corruption not merely nudges the economy towards a cashless society but is a significant push in that direction.

The parallel economy running outside the banking system, which was thriving on black money, has consequences like tax evasion and tax non-compliance and will be replaced by the real economy, Jaitley said.

However, Gandhi attacked the move.

"Once again Mr Modi shows how little he cares about ordinary people of this country - farmers, small shop-keepers, housewives - all thrown into utter chaos.

"While the real culprits sit tight on their black money stashed away abroad or in bullion/real estate. Well done Mr. Modi.

"One question for the PM: How is replacing 1,000 rupee notes with 2,000 rupee notes going to make black money hoarding a lot harder?" he said in a series of tweets on his official account.

Congress leader Chidambaram supported the move but stressed that 99 per cent people are legitimate holders of money and the government must "quickly, efficiently" exchange their money without causing any harassment.

He also said if housewives, students and small traders are made to fill up RBI forms, then it'll be pure harassment, and Congress will condemn it. He said the introduction of the Rs 2,000 note was a "puzzle".

"Replacement of old notes by new notes should be done quickly, efficiently and with the least inconvenience to the people, especially the poor, the middle class, the farmers, the daily-wage earner, the small traders and businesspersons, the students, the self-employed and the housewife.

CPI-M leader Prakash Karat criticised the decision terming it "posturing" to divert people's attention from the government's failures.

"This is just a political posturing to hide the failures of the government.

"This decision has caused a lot of disruption in the life of the common people. The Modi government has not addressed the sources of black money and did nothing to check them. There are certain sectors, which are the sources of black money, like real estate," he told media here.

The Aam Aadmi Party termed the demonetisation as a "Tughlaki farman" - (Tughlak's diktat) and said the move was made to save big businessmen who hold black money.

"(Prime Minister Narendra) Modi ka tughlaki farman kisaanon, gareeb aadmi ke peet pe hathoda hai (Modi's directive is a blow to the farmers and poor)," AAP leader Sanjay Singh told reporters here.

"With this decision, the whole country is in panic. This government does not want to catch big defaulters and people who have black money in their Swiss accounts but only wants to trouble the common man," Singh added.

  • Megastar's "Sye Raa" shooting updates

    Hyderabad, May 26: Tollywood Megastar Chiranjeevi's upcoming period magnum opus, Sye Raa Narasimha Reddy, a biopic on the first Telugu freedom fighter Uyyalawada Narasimhareddy, is on brisk pace of sh ..

    Written by : IANS | 08:33 PM
  • Senior actress plans come back with Multistarrer

    Hyderabad, May 26: Tollywood Senior actress Rakshita is also the well-known face for Telugu audiences as she has been the part of several Telugu movies like Idiot, Pellam Oorelithe, Nijam, Shivamani, ..

    Written by : IANS | 08:15 PM
  • Daring mother saves daughter from leopard

    COIMBATORE, May 26: Here is the incident happened that, A woman rescued her 11-year-old daughter from the jaws of a leopard, which was dragging her from the house. According to the details, She k ..

    Written by : IANS | 08:06 PM
  • Telangana to become Pollution Free

    Hyderabad, May 26: The Telangana government is planning to purchase 500 electric buses in order to reduce the pollution levels in the city, said Municipal Administration and Urban Development Minister ..

    Written by : IANS | 08:04 PM
  • Paytm is safe now!!

    New Delhi, May 26: The giant Digital payment firm, Paytm today condemned media reports that it has shared user data to third parties, saying that the data of its 300 million registered users is safe i ..

    Written by : IANS | 07:53 PM
  • IMD Alerts: 'Mekunu Storm' likely to hit Goa

    Goa, May 26: In a panic situation, The Indian Meteorological Department (IMD) has issued a warning regarding cyclone 'Mekunu' for Maharashtra-Goa coast. Mekunu is likely to intensify into a cycloni ..

    Written by : IANS | 07:44 PM
  • Star Heroine daughter mobbed video goes viral

    Mumbai, May 26: The late legendary actress Sridevi's daughter and budding actor Janhvi Kapoor has already a fan base. The girl was several times along with her mother. Post her mother's demise, Jh ..

    Written by : IANS | 07:34 PM
  • Samantha shared thatayya Rangamma Song

    Hyderabad, May 26: Actress Samantha has been in touch with her fans through her social media accounts, recently she shared a video on her twitter handler and going gaga over the internet. According ..

    Written by : IANS | 07:25 PM
  • Brutal Accident in Siddipet

    Siddipet, May 26: Here is a ghastly incident has occurred, while 10 people, including two children, were killed and 15 others were injured in a collision between a lorry, bus and car in Siddipet town ..

    Written by : IANS | 07:10 PM
  • Mahanati- Gemini Ganesan making video unveiled

    Hyderabad, May 26: Tollywood much-anticipated film Mahanati- the biopic of legendary South Indian actress Savitri, is running successfully at the box office. According to the traders' report, Mahan ..

    Written by : IANS | 06:35 PM
  • Cine Actor Hails YSRCP Jagan Mohan Reddy

    West Godavari, May 26: Tollywood actor and writer Posani Krishnamurali said that YSR Congress Party President YS Jagan Mohan Reddy was a sincere and committed leader. These exceptional traits attr ..

    Written by : IANS | 06:05 PM
  • Patanjali alleges Modi Historic decisions

    New Delhi, May 26: Ram Dev Baba Pathanjali company officials made serious allegations on Prime Minister Narendra Modi here on Today. Patanjali, the fastest growing company with Ayurveda and natural ..

    Written by : IANS | 05:39 PM
  • Pawan Kalyan called off Hunger strike

    Hyderabad, may 26: The Actor turned politician Pawan Kalyan has called off hunger strike at 5 PM by drinking lemon juice, demanding the Andhra Pradesh government to find a solution to the kidney disea ..

    Written by : IANS | 05:38 PM
  • Sunny leone emotional tweet goes Viral

    Mumbai, May 26: Bollywood sexy actress Sunny Leone has appeared to have a meltdown recently while shooting for her biopic - a web-series titled Karenjit Kaur - The Untold Story of Sunny Leone, which h ..

    Written by : IANS | 04:46 PM
  • Mahanati another unseen Video released

    Hyderabad, May 26: Tollywood recent released prestigious film Mahanati, the biopic of legendary actress Savitri has been getting a positive buzz even after released three weeks ago. The film starri ..

    Written by : IANS | 04:29 PM
  • RGV-Officer New video Going Viral

    Hyderabad, May 26: King Nagarjuna is coming with OFFICER under the direction of controversial Director Ram Gopal Varma. The Film is slated to hit the screen on Jun 1, and the teasers and Trailers a ..

    Written by : IANS | 04:24 PM
  • "Naa Nuvve" gets new release date

    Hyderabad, May 26: Tollywood Hero Nandamuri Kalyanram has pinned all hopes on his next project Naa Nuvve, which is a Jitendra's directorial. The film is touted to be a breezy romantic drama. The t ..

    Written by : IANS | 04:22 PM
  • "Nela Ticket" Making Video Goes Viral

    Hyderabad, May 26: Nela Ticket Movie has been getting the mixed response from the fans. The Director Kalyan Krishna has made a super film with Soggade Chinni Nayana but he is unbaled to score with Nel ..

    Written by : IANS | 04:00 PM
  • Mahesh Babu surprised his hardcore Fan

    Hyderabad, May 05: Tollywood Superstar Mahesh is one of the most famous actors in the film industry. He never fails to spend time with the fans and even surprises them. Recently, he surprised a ha ..

    Written by : IANS | 05:16 PM
  • Is actress Ileana pregnant? pic talk

    Mumbai, Apr 17: From few days there has been a gossip running in B-town film sources that the actress Ileana gonna be a mom. It is already known that Illeana has been dating the Australian photographe ..

    Written by : IANS | 02:05 PM
  • Kannada Heroine for Akhil's next

    Hyderabad, Apr 16: Kannada actress Rashmika Mandanna made her Telugu debut with Chalo starred with Naga Shaurya, which gets hit talk and many applauses from critics also. After her successful Toll ..

    Written by : IANS | 12:13 PM
  • Mehreen Pirzada out from Naga Shourya film

    Hyderabad, April 13: Naga Shourya's last release Chalo has got a decent response from the fans and he is looking for another interesting project under the direction of Srinivas Chakravarthy. The fi ..

    Written by : IANS | 01:07 PM
  • Tamannah to play key role in Chiranjeevi's next

    Hyderabad, Apr 11: Tollywood Milky beauty Tamannaah of Baahubali fame made her career with an impressive character as "Avanthika" which will remain for a lifetime.She recently performed in IPL 2018 in ..

    Written by : IANS | 11:44 AM
  • Rangasthalam Success Meet in US

    Hyderabad, Apr 04: "Rangasthalam" movie has made fantastic collections at the US box office from the premiere shows, According to the latest updates, The Movie has collected $640,00 from 160 locations ..

    Written by : IANS | 05:42 PM
  • Rangasthalam Beats Sardar Gabbarsingh

    Hyderabad, Mar 30: Ram Charan's Rangasthalam movie has been released here on today, and getting a super response from the fans of Mega Power Star and also from the Critics. here is the latest updat ..

    Written by : IANS | 01:36 PM
  • Pawan kalyan in Chal Mohan Ranga

    Hyderabad, Mar 29: Tollywood Young hero Nithin is one of the biggest fans of Power Star Pawan Kalyan, his upcoming flick was Chal Mohan Ranga, which is penned by Trvikram Srinivas. In the Nithin ..

    Written by : IANS | 05:51 PM
  • Actress Priyamani lodges complaint

    Hyderabad, Mar 14: The Tollywood Actress Priyamani, who has not signed any Telugu film in recent times, has filed a complaint against the producer and director of the film Angulika for using her image ..

    Written by : IANS | 12:42 PM
  • Rangasthalam Movie Highlights

    Hyderabad, Mar 13: "Rangasthalam" is one of the most awaited movies in the Tollywood Industry, Mega Power star Ram Charan is doing the film after the BlockBuster "Dhruva". The film shooting has bee ..

    Written by : IANS | 06:51 PM
  • Rajinikanth is not Super Star

    Chennai, Mar 08: when Asked about who is the superstar of Indian Cinema, then fans undoubtedly says Its Thalaivar Rajinikanth. He recently opened the two more official Social Media sites in order t ..

    Written by : IANS | 06:38 PM
  • National Award Winner Director for Young Hero

    Hyderabad, Mar 07: We all knew that Rajashekhar Starrer PSV Garudavega has garnered the Tollywood Biggest Hit in recent times, The Director Praveen Sattaru has mesmerized the movie with his talent. ..

    Written by : IANS | 03:52 PM
  • Indian Movies Diasters at Awards?

    Mumbai Mar 5: Currently its Awards Season and many English Movies have secured Oscar Awards Worlds prestigious Awards. These Awards are generally given to encourage new filmmakers and to bring out ne ..

    Written by : IANS | 06:50 PM
  • Trivikram to direct Nani's next Film

    Hyderabad, March 03: Here is a good news for Natural Star Nani's fans! According to the latest buzz in the film Industry, Natural Star Nani who is basking in the glory of his recently released product ..

    Written by : IANS | 04:10 PM
  • Samantha to have hair cut for U-Turn

    Hyderabad, Feb 27: The Tollywood beautiful actress Samantha Akkineni is currently busy shooting for the remake of the film U-Turn. U-Turn is the successful Kannada film starring Shraddha Srinath i ..

    Written by : IANS | 05:20 PM
  • Sridevi return to India Delayed ?

    Dubai Feb 26: In a Major shock top film lovers Popular Movie Actress Sridevi has died on Saturday night. The 54-year old actress passed away after a massive cardiac arrest in Dubai. However new facts ..

    Written by : IANS | 07:28 PM
  • Allari Naresh Next film Updates

    Hyderabad, Feb 26: Tollywood Comedian Allari Naresh is one talented hero in the industry who is going through a tough phase with back to back debacles. However, The Actor is not discouraged and is doi ..

    Written by : IANS | 07:25 PM
  • RGV :I hate god for taking sridevi early

    New Delhi Feb 25: In a Major shock top film lovers Popular Movie Actress Sridevi has died on Saturday night. The 54-year old actress passed away after a massive cardiac arrest in Dubai. Senior Dir ..

    Written by : IANS | 05:39 PM
  • New facts about sridevis death emerge

    Hyderabad Feb 25: In a Major shock top film lovers Popular Movie Actress Sridevi has died on Saturday night. The 54-year old actress passed away after a massive cardiac arrest in Dubai. Sources sai ..

    Written by : IANS | 04:05 PM
  • Happy Birthday Natural Star Nani

    Hyderabad, Feb 24: The Tollywood Hero Nani's looks and his performance are the reason why this man is tagged as the 'Natural Star' by his fans. Nani's roles are realistic and relatable, which make ..

    Written by : IANS | 01:23 PM