Canada-based economics professor's study finds that on the cost side, there is strong evidence that demonetisation reduced employment, especially in informal sector.
Income tax department tells Parliament it has unearthed 1,421 cases worth Rs 2,101 crore in FY2019-20 so far, up from 1,110 cases involving Rs 1,015 crore for 2018-19.
The information, provided under the new automatic information exchange pact, includes details of currently active accounts as well as those closed in 2018.
As India has ranked 74th in terms of money stashed by its residents in Swiss banks, ThePrint takes a look at the different legitimate ways of transferring funds overseas.
The top court has refused to stay the Madras High Court order quashing criminal prosecution against the Chidambarams as requested by the Income Tax dept.
The former Union minister said the opposition was misleading people, and clarified that BJP said if black money stashed abroad came back, an estimated Rs 15 lakh can be given per family.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
It is better to have undisclosed business with resulting employment which in turn leads to more consumption and revenue.
In ideal world economy should be fully formal but should never be at the cost losing jobs. Demo, complicated and shabbily implemented GST and
now “tax terrorism “with plummeting business investment have severely dented economy.
Good and apolitical analysis of demo. Critics of Demo have to understand this. It was not just informal sector that was adversely affected by demo, but also undisclosed businesses. For example, someone, who does Rs.1 crore turnover may disclose only Rs.50 lakhs. His undisclosed business of balance Rs.50 lakhs also adds to the economic activity and value without the tax liability. This part is like cancer which grows without making the body healty. Can anyone deny that demo was a blow to such cancerous growth? Incidentally, why place RBI on a higher pedestal, as a good guy trying to save the world? RBI is also a part of government. It is a statutory bank under Government’s control. It is as much a part of government when it comes to monetary decisions.
@ Gururaj
It is better to have undisclosed business with resulting employment which in turn leads to more consumption and revenue.
In ideal world economy should be fully formal but should never be at the cost losing jobs. Demo, complicated and shabbily implemented GST and
now “tax terrorism “with plummeting business investment have severely dented economy.
Good and apolitical analysis of demo. Critics of Demo have to understand this. It was not just informal sector that was adversely affected by demo, but also undisclosed businesses. For example, someone, who does Rs.1 crore turnover may disclose only Rs.50 lakhs. His undisclosed business of balance Rs.50 lakhs also adds to the economic activity and value without the tax liability. This part is like cancer which grows without making the body healty. Can anyone deny that demo was a blow to such cancerous growth? Incidentally, why place RBI on a higher pedestal, as a good guy trying to save the world? RBI is also a part of government. It is a statutory bank under Government’s control. It is as much a part of government when it comes to monetary decisions.
Only BJP profited by demonetization.