New Delhi: The government on Friday announced another declaration scheme for black money holders wherein disclosures would attract 50% tax and penalty. The scheme ends on March 31, 2017.
“Unaccounted cash can be disclosed under the Prime Minister’s Garib Kalyan Yojana that comes with 50% tax and penalty starting from tomorrow till March 31, 2017,” Economic Secretary Hasmukh Adhia said.
Earlier in the day, Prime Minister Narendra Modi questioned late PM Indira Gandhi’s decision to not implement the note ban despite her home minister’s recommendations and said that the nation needed this bold decision to improve its economic standings. Hitting back, Congress leader Rahul Gandhi said the government was “taking money from the poor and giving it to the rich”.
The war of words came hours after Opposition leaders, led by Congress chief Sonia Gandhi, met President Pranab Mukherjee and apprised him about the demonetisation woes faced by the common man. The delegation included former PM Manmohan Singh.
Here’s a recap of the day’s developments:
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