Fri, Aug 18, 2017 | updated 03:01 AM IST

Demonetisation is 'ill-thought out' initiative: Congress

Updated: Nov 10, 2016 14:00 IST      
Demonetisation is 'ill-thought out' initiative: Congress

New Delhi [India], Nov. 10 (ANI): The Congress Party on Thursday alleged that the Centre's move to ban Rs. 500 and 1000 currency notes would have no effect on the crackdown of black money and terror financing while dubbing the initiative to be 'ill-thought out' with least concern for the common public.

"Let me summarise on this issue by saying it may be well intentioned. Terrorism, fake currencies are vital issues, it is knee-jerk, ill-thought out and possibly not at all intended for and having no effect on black-money," Congress spokesperson Abhishek Manu Singhvi told ANI.

"In 1978, when this was done the effect on the black-money was less than 10 percent. The amount of negative public interest generated on the 'aam aadmi', on the small trader verses the benefit in terms of black money control alone. I think it's far outweighed by the former. And people in their knee-jerk hasty reactions, without adequate planning, without thinking the issue through, are really causing a disservice to public interest," he added.

Earlier in the day, Union Finance Minister Arun Jaitley assured that people depositing smaller amounts less than 2.5 lakh would not attract harassments from the Income Tax (IT) officials, adding that the banks across the country would open on weekends and extend their working hours to ensure that requisite replacement of currency is available to the people.

"It is only those with large amounts of undisclosed money who will have to face the consequences under existing laws," Jaitley said at the two-day Economic Editor's Conference here.

He said that people might as of now think that they are facing problems, but they will definitely benefit from the government's decision in the long run.

"This decision (scrapping of Rs 500/1000 notes) will impact the spending habits of people. We are trying to ensure at the earliest requisite replacement currency is available to people. There is no need to rush in initial days," Jaitley said.

Chief Economic Advisor Arvind Subramanian said the decision by the government would see reduction of wealth as it would lead to transfer of unaccounted wealth and help the government to spend in public sector projects.

"It should be seen as a transfer of this unaccounted wealth from private sector to Government and public sector, which will boost economy," Subramanian said. (ANI)

PIL on Gorakhpur tragedy to be heard today

Updated: Aug 18, 2017 02:04 IST     

Lucknow (Uttar Pradesh) [India], Aug 18 (ANI): Lucknow bench of Allahabad High Court will today hear the Public Interest Litigation (PIL) in regard with the Gorakhpur tragedy in which at least 30 kids died in 48 hours at Baba Raghav Das (BRD) Medical College's Nehru Hospital on August 10 and 11.

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New Delhi [India], August 17 (ANI): Union Minister Maneka Gandhi on Thursday sought External Affairs Minister Sushma Swaraj's help in bringing back a 16-year-old Hyderabad girl to India, who was tricked into marrying a 75-year-old man from Oman for Rs. 5 lakh.

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East Godavari (Andhra Pradesh) [India], August 17 (ANI): A man, named Surya Kiran, was injured here, after his mobile phone burst into flames in his pocket.

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Kolkata (West Bengal) [India], Aug 17 (ANI): Netaji Subhas Chandra Bose's grandnephew Chandra Kumar Bose on Thursday said that the history of Indian independence movement has been distorted and demanded rectification of the same for proper documentation of the former's role in it.

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New Delhi [India], Aug 17 (ANI): Assam Chief Minister Sarbananda Sonowal on Thursday said that he had a meeting with all the concerned department of the Government of India to find a solution to problems of flood and erosion situation in the state.

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Patna (Bihar) [India], August 17 (ANI): Bihar Chief Minister Nitish Kumar on Thursday recommended Central Bureau of Investigation (CBI) to probe into Bhagalpur Srijan scam.

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Army to get six Apache helicopters at cost of Rs 4,168 crore

Updated: Aug 17, 2017 22:58 IST     

New Delhi [India], August 17 (ANI): The Defence Acquisition Council (DAC) on Thursday approved the procurement of six US-made Apache-64E helicopters at a cost of Rs. 4,168 crore for the Indian Army.

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Civilian injured in Pak's sniper shot across LOC

Updated: Aug 17, 2017 22:35 IST     

Nowshera (Jammu and Kashmir) [India], August 17 (ANI): A civilian got injured, when he was hit by a sniper shot, fired from across the Line of Control (LOC) by the Pakistani Army near Ashoka border post in Nowshera Sector.

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BJP mocks TN Commission over Jayalalithaa's death

Updated: Aug 17, 2017 22:13 IST     

New Delhi [India], August 17 (ANI): Mocking the Tamil Nadu Commission for constituting probe on former chief minister J. Jayalalithaa death, the Bharatiya Janata Party (BJP) on Thursday stated that there should be prima facie or evidence, on basis of which, the probe can take place.

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Chennai (Tamil Nadu) [India], Aug 17 (ANI): Late Tamil Nadu chief minister J. Jayalalithaa's niece Deepa Jayakumar on Thursday asserted that there is no point setting up an inquiry commission to probe the death of the former and requested the Centre to constitute a CBI inquiry on the same.

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New Delhi [India], Aug 17 (ANI): The Narcotics Control Bureau (NCB) personnel on Thursday arrested a Tanzanian and a Nigerian national and seized four kilograms of cocaine worth Rs 40 crores.

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New Delhi [India], August 17 (ANI): The National Investigation Agency (NIA), on Thursday, arrested Zahoor Ahmad Shah Watali from the national capital, in connection to funding of terrorist and separatist activities in Jammu and Kashmir.

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Chennai (Tamil Nadu) [India], Aug 17 (ANI): The Apollo Hospital of Tamil Nadu on Thursday backed state government's decision to set up a committee to inquire into death of former late Tamil Nadu chief minister J. Jayalalithaa's death, saying that it is a good move.

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Himachal landslide: NH 154 to reopen soon

Updated: Aug 17, 2017 20:51 IST     

Mandi (Himachal Pradesh) [India], Aug 17 (ANI): Chief Secretary of Himachal Pradesh Government VC Pharka, on his visit to landslide-affected Mandi's Kotropi village on Thursday, directed to reopen National Highway (NH) 154 soon.

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TMC swipes municipality polls, while BJP stands second

Updated: Aug 17, 2017 20:16 IST     

Kolkata (West Bengal) [India], August 17 (ANI): West Bengal Chief Minister Mamata Banerjee-led Trinamool Congress on Thursday swept the municipal polls in the state capturing all seven civic bodies, where elections were held on August 13.

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Raipur (Chhattisgarh) [India], August 17, (ANI): An encounter between security forces and Maoists is currently underway in Dantewada's Aranpur range in Chhattisgarh.

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Uttarakhand [India], August 17, (ANI): Last rites of Havildar Narendra Singh, who lost his life in ceasefire violation by Pakistan on August 7, in Uri sector of Jammu and Kashmir, have been performed in Haridwar on Thursday.

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New Delhi [India], August 17 (ANI): 119 teams of National Disaster Response Force (NDRF) teams have till now rescued 1334 people, evacuated 35000 people and 142 livestock from flood affected areas of Assam, Bihar and Uttar Pradesh.

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New Delhi [India], Aug 17 (ANI): Prime Minister Narendra Modi on Wednesday urged the senior and the younger generation of the nation to come together and work for country's good.

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Panchkula (Haryana) [India], Aug 17 (ANI): The CBI (Central Bureau of Investigation) court will give its final judgment on August 25 over the 14 year-old rape case against the Dera chief Gurmeet Ram Rahim Singh.

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