Rs 3,118 crore deposited in 11 Gujarat banks linked to Amit Shah, BJP after DeMonitization

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Looks like a ploy from the dirty tricks dept of the opposition. Wait for more details but that is my first instinct. All sorts of nonsense will be said from now till the elections. Let the mud slinging begin in earnest

"It is now officially clear that this entire exercise was the biggest scam in independent India, indulged to convert its ill-gotten 'black money' into 'white'," Congress spokesperson Randeep Surjewala said in a statement.
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lights, camera, action :D
 
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Well, is it a proper RTI reply or not? That will answer if it's real or fake news. Way too many reports critical of the govt. and bjp leaders have been taken down to all be fake news.

These days the independent media could probably be the only source for real news.
 
There was news of BJP getting 1000crores via donations in last few months. Rumours were that this was either from Amit shat or someone else from BJP. Now you know where this came from. Demonetisation was in the end, a fund raising campaign for BJP.

According to the report, the income of BJP increased by a whopping 81.18% (463.41 crore) between financial years 2015-16 and 2016-17, the year in which big bang demonetisation decision was taken by Prime Minister Narendra Modi.
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https://www.financialexpress.com/in...ongress-grossed-this-much-in-2016-17/1128203/

Dont forget BJP now has no Treasurer. On their Annual report submitted to Election comission, a report that has to be given by treasurer has be signed "For treasurer" by an illegible sign, with no name written below as to who signed it. Shocking stuff.
 
jith77 said:
The news should be true. But doesn't aMount to corruption or malpractice.
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All hinges on this word 'linked'

See the title 'linked to Amit Shah'

The news agency said BJP president Amit Shah was the bank's chairman in 2000, and continues to be a director -- a position he has held for several years.
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How can Amit Shah still be a director of Ahmedabad District Cooperative Bank (ADCB) ?

"Right behind ADCB," IANS's report said, "is the Rajkot District Cooperative Bank, whose chairman Jayeshbhai Vitthalbhai Radadiya is a cabinet minister in Gujarat Chief Minister Vijay Rupani's government. It got deposits of old currencies worth Rs 693.19 crore. Interestingly, Rajkot is the hub of Gujarat BJP politics -- Prime Minister Modi was first elected from there as a legislator in 2001."
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How can the cabinet minister in the incumbent state govt still be chairman of Rajkot District Cooperative Bank ?[DOUBLEPOST=1529937567][/DOUBLEPOST]
Party Monger said:
Demonetisation was in the end, a fund raising campaign for BJP.
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In the sense it allows black to enter the system and now be accounted for thereby expanding the govt's tax net, in theory anyway

Not really fund raising, there are electoral bonds for that which allows foreign money to enter.
 
Brain is still spinning after watching two matches simultaneously but what i meant is you seem to act neutral but for people who know your responses by now, you're clearly pro-bjp. nothing wrong in that, just don't try to act like switzerland...
 
The BJP govt could never give a clear reason for demonetization. They kept changing the reasons every time they talked. They quoted everything from Black money, terror funding and fake notes and everything in between.
So, it is clear from that itself that the exercise was for anything but the vague reasons that they cited each time. Further more, it helped none of those causes. They tried to cite increase tax collection and compliance as a success story, but the fact is that tax compliance and collection was increasing every year even before demonetization and even during earlier congress regime as well. However, it was still not a drastic change either before or after demonetization. The overall compliance is still low.

On the other hand, the exercise helped lakhs of crores of rupees of black money to be converted to white. The new notes were found in the hands of terrorists within the next day even before normal people could even get access to them who had to wait 3 days. Fakes of the new notes were also ready before the real notes got to the hands of the people. Furthermore, lac's of people in the informal sector lost their livelihoods temporarily or permanently and many poor also lost their entire life's savings due to not having bank accounts and not being allowed to open new accounts during that time.
 
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Turning black into white is an objective of the exercise. Increase the tax net. The problem is showing success in a credible manner.

It is being presented as a silver bullet when there is none.

See the editorial four days after the British did it. It was necessary.

It's so similar to what i've heard to date that this govt could have written it
 
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Surprising news. Amit Shah must have known about the note ban days before it actually happened. 3.5k crores is small change for a guy like him(when his sons infant company is valued at 80k plus crores) . Possible the money belonged to his cronies whom he dared not inform before hand. If it belongs to HIM I would call him a really HONEST politician(sarcasm guys....I don't want cat fights due to my statements lol )
 
No, it was not an objective and it didn't increase the tax net by any significant number. They just tried to portray it as an objective as an after-thought months after it happened. The initial narrative was catching and getting back black money which didn't happen either.

Tax base is widening every year at a slow pace and demonetization didn't make any drastic impact on that. Demonetization + GST put together are estimated to have increased the tax payer base by 3% after accounting for the normal yearly increase. This is peanuts considering the already poor tax base in India and the potential for increasing the net. For me, success in this respect would be an increase of at least 300-400% in the tax base.

Also, don't forget that due to poor management and implementation, most of the cash exchanges had happened under the radar and not officially. So, all the mid scale to bigger fish just exchanged their old notes for new without paying any taxes or depositing the amount in bank accounts officially. Heck, people at my work place had exchanged cash in lac's to a few crores at banks directly without depositing to their accounts.

Nobody's denying the necessity to refresh the currency and invalidate the old currency, its the method of implementation and its advantages that is in question. Except for fulfilling whatever, personal/private objectives BJP leadership had, Demonetization didn't do any good for the common man or the honest tax paying citizen.
 
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Lord Nemesis said:
The BJP govt could never give a clear reason for demonetization. They kept changing the reasons every time they talked. They quoted everything from Black money, terror funding and fake notes and everything in between.
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Wasn't it to preempt the thousands of crores of poll money congress had collected for the up elections? They won the elections due to note ban- india be screwed, so what.
 
mh09ad5578 said:
Surprising news. Amit Shah must have known about the note ban days before it actually happened. 3.5k crores is small change for a guy like him(when his sons infant company is valued at 80k plus crores) . Possible the money belonged to his cronies whom he dared not inform before hand. If it belongs to HIM I would call him a really HONEST politician(sarcasm guys....I don't want cat fights due to my statements lol )
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Cooperative banks are cesspools of corruption.Who knows whose money it is. As for Amit Shah and other BJP kin and friends, most of their friends were made aware.

BJP leaders were found to have gone on a property purchase spree and bought properties worth crores in cash just before demonetization. Heck, they have even had money supposedly shipped from printers or RBI directly without going through banks. There is supposedly a discrepancy in the quantity of cash printed by printers and the RBI numbers even to this day.

So, I have my doubts about this money having any links to Amit shah directly. They were better enabled to get rid of the old currency or to get new currency.
 
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