BJP to observe Nov 8 as 'anti-black money' day

The Bharatiya Janata Party on Wednesday announced it will mark the first anniversary of demonetisation on November 8 as 'anti-blackmoney day', setting up a political tug of war with opposition parties which have planned to observe it as a 'black day'.

Leading the charge, senior party leader and Finance Minister Arun Jaitley slammed the Congress over its stand against demonetisation, alleging it did not take a single significant step against black money when in power, and listed out a number of measures taken by the Modi government against the menace.

Union ministers and BJP office bearers across the country will build public opinion in favour of the government's decision till November 8 when the party would hold programmes across the country to observe it as anti-blackmoney day, he said at a press conference in New Delhi.

The finance minister also rejected the criticism that note ban decision did not expose black money, saying it came from those who did not understand its objects.

Jaitley said that demonetisation has served all three objectives -- to squeeze cash economy, promote digital transactions in business and widen the tax base. He pointed out that sale of gold through digital transactions doubled this time on 'Dhanteras' festival.

"The Congress had adequate opportunity to be in power. I can't recollect a single significant step they ever took against black money. They had reconciled to India living with a shadow economy.

"It is understandable that it would never be on the political agenda of their leadership. I can understand their discomfort. If there is an ideological polarisation over a debate on November 8 over the issue of pro-excess cash economy and anti-black money, then the BJP will definitely take it forward," Jaitley said.

The BJP's move comes after around 18 opposition parties, including the Congress and Left, announced that they would observe November 8 as 'black day' against demonetisation which they termed as the government's 'most ill-conceived decision'.

Jaitley listed out steps, including constitution of an Special Investigation Team, benami law and reworking of India's double taxation avoidance agreement with some countries besides demonetisation to argue that the government has been working to curb black money.

Lashing out at the Congress over its criticism of the government's announcement to remonetise banks, he said those who 'destroyed' the country are giving a 'sermon' today.

He said that the Congress can accuse them of delay in taking steps to correct its incompetence, adding that the banks' finances suffered due to indiscriminate loans given by them between 2008-12, when the United Progressive Alliance was in power.

The government collected resources before it moved on Tuesday to infuse money into banks, he said.

Asked if the BJP's drive was because of 'perceived criticism' of demonetisation among the masses, Jaitley said people are wise and had been voting resoundingly in the party's favour during elections that have taken place after the decision.

The Congress, however, dubbed the BJP's plan as a 'crude joke' with the people and alleged that it is an attempt to divert public attention from the government's 'failures' and 'betrayal'.

Congress vice president Rahul Gandhi also took a swipe at Jaitley over a Press Information Bureau of India tweet in which the government claimed that the 'real GDP growth average is 7.5 per cent in last 3 years'.

'Dear Mr Jaitley, May the Farce be with you (sic),' Gandhi tweeted.

Congress' senior spokesperson Anand Sharma hit out at Prime Minister Narendra Modi and demanded that he introspect, apologise to the nation and demit office for his 'reckless decision'.

Sharma, flanked by Congress communications in-charge Randeep Surjewala, accused Modi and Jaitley of showing 'arrogance' by not admitting their 'mistakes' of note ban decision and goods and services tax implementation which, he alleged, hit the country's economy hard and halted its growth story.

"This is a crude joke with the people of India," Sharma said in a retort to BJP's plan to mark November 8 as 'anti-black money' day.

He said over 99 per cent of the money the prime minister had junked has returned to banks as it was genuine money of the people and not black money and only 0.0013 per cent of black money has been found.

"Where is the issue of having this national celebration. It would be apt if they observed it as anti-people BJP policies day," he told reporters.

"It is nothing but a smokescreen and a myth to mislead and confuse the people," he said.

Sharma accused the prime minister of 'destroying' the country's economy and the growth story that was initiated by the Congress-led United Progressive Alliance.

"If morality is still a virtue in India’s polity, then it is time for Prime Minister Modi to introspect and demit the office he holds," Sharma and Surjewala said.

They said Modi should order an immediate investigation 'into the demonetisation scam as also the loss to economy'.

"The PM remains in arrogant denial of the hardship inflicted on people of country by his reckless decision," Sharma said.

He accused Jaitley of making a 'desperate' attempt to save the BJP as the 'ground is slipping from beneath' its feet.

Taking a dig at BJP chief Amit Shah, Sharma asked whether Amit Shah's son Jay Shah would find a place in this celebration.

"'Modinomics' and 'Jaitleynomics' have destroyed India’s economic growth story," he alleged.

IMAGE: Union Minister for Finance and Corporate Affairs Arun Jaitley addressing a press conference at BJP headquarters in New Delhi on Wednesday. Photograph: Kamal Singh/PTI Photo