Demonetisation largest money-laundering scheme ever: Arun Shourie

News Network
October 4, 2017

Former union minister, economist and senior Bharatiya Janata Party (BJP) leader Arun Shourie has stepped up his attack the Narendra Modi government and its policies, terming the demonetisation exercise as a money laundering scheme.

In an interview with NDTV last night he said: "Demonetisation was a money laundering scheme. Because everybody who had black money, converted into white through banks."

Shourie further said that it was conceived by the government, entirely implemented by the government and entirely acclaimed by the government.

The former minister also suggested that none of the stated objectives was really achieved after demonetisation. He said: "Which argument today survives? Black money? All of it turned white. Terrorism? Terrorists are still coming into India. At the end they have nothing to say."

Prime Minister Narednra Modi onNovember 8, the day he announced the demonetisation, had said that the move would destroy black money and would make terrorists bankrupt. Shourie supported Yashwant Sinha and P Chidambaram's latest comments on economic slowdown. He said these economists have been 'talking about facts' that are based on the reports from The Economic Survey and the RBI.

Several economists have expressed their concern over the latest economic slowdown. India's GDP growth for the period of April-June came down to a three-year low of 5.7 per cent . The growth rate declined further from the 6.1 per cent in the preceding quarter. The Economic Survey had projected a growth of 6.75 per cent to 7.5 per cent for 2017-18.

"Is it a fact or not that GDP has collapsed to 3.7 per cent according to the old series? Is it a fact or not that index of industrial production has gone down from about 9 per cent in 2015-16 to about 1.7 per cent in April to July? Is it not a matter of concerned," Shourie asked.

Earlier in September, former Finance Minister Yashwant Sinha wrote a hard-hitting article , accusing Finance Minister Arun Jaitley of destroying the economy. He had also termed the demonetisation as an unmitigated economic disaster that has played havoc with businesses.

Sinha had underlined, in the article, the recent economic crisis and said: "Private investment has shrunk as never before in two decades, industrial production has all but collapsed, agriculture is in distress, construction industry, a big employer of the work force, is in the doldrums, the rest of the service sector is also in the slow lane, exports have dwindled, sector after sector of the economy is in distress."

This is not the first time when Shourie has criticized the government and its policies. In January this year, Arun Shourie said that the demonetisation  was the 'greatest economic blunder in 70 years '. While seaking at the National Institute of Advanced Studies in Bengaluru, the former minister in Vajpayee's government said, "Demonetisation is the symptom of a pattern of government where there is no consultation. It may happen again and again."

Nine months later, Shourie again lambasted the top leadership and said those running the government do not seek any advice or hear the facts. He said: "This is a government of two-and-a-half persons, that is, Narendra Modi, Amit Shah and one in-house lawyer. They don't have the expertise and they have surrounded themselves by persons who don't have the expertise."

Comments

Rajkumar
 - 
Wednesday, 4 Oct 2017

Manmohan singh was far far better than jaitley and Feku

Unknown
 - 
Wednesday, 4 Oct 2017

Retired so called intellectuals should not mislead the country. I do not get a single point of argument for the statements made. Let us see logic and statistics. Just because the media wants rubbish and you have an opportunity, plz do not does below. Plz put forth logic so that we citizens can understand something better. Our understanding  of things as of today doesn't tally with the outburst.

Naveen
 - 
Wednesday, 4 Oct 2017

Well said. "Idiotic jolt"

Danish
 - 
Wednesday, 4 Oct 2017

If anybody say against truth modi, Cheddis will say u to go to Pakistan 

Ganesh
 - 
Wednesday, 4 Oct 2017

Not only demonetisation, there are many examples of failed attempts. Gst also in that list. Now we people paying 3taxes. Do you think its easy to pay as being a middle class man

Kumar
 - 
Wednesday, 4 Oct 2017

Sanghis sold thier brain. Even after many destructive decisions they will tell Modi is best and he is doing for our good

Sandesh
 - 
Wednesday, 4 Oct 2017

Feku wont listen. He is in his dreamy world 

Rohit shetty
 - 
Wednesday, 4 Oct 2017

"The king is naked"
Should not tell truth, or else you will get punishment

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coastaldigest.com news network
June 9,2020

Mangaluru, May 9: An Indian expatriate worker from Karnataka’s coastal district of Dakshina Kannada died of in Dubai after he suffered a cardiac arrest.

The deceased has been identified as Yashwant, 37, hailing from Malali Kajila House in Tenkulipady village, on the outskirts of Mangaluru.

He was working as an air-conditioner mechanic in Dubai for the last two years.

As per sources, he suffered a heart attack. However, the exact cause of this death is yet to be known.

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News Network
June 26,2020

Belthangady, Jun 26: Thieves broke into a house at Kalmanja village in Belthangady taluk of Dakshina Kannada during the wee hours on Friday and decamped with cash and valuables worth Rs 13 lakhs after tying the inmates of an areca merchant's house.

Police said the stolen valuables include 40 sovereigns gold, one kg silver and cash of Rs 25,000. The robbery took place in the house of Achyut Bhat who is an areca merchant in Ujire.

The house inmates opened the door after hearing dogs barking. Immediately the criminals, wearing masks, barged into the house and threatening to kill tied them before escaping with the booty.

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News Network
July 10,2020

Bengaluru, Jul 10: The Karnataka cabinet gave its approval for "The Karnataka Contingency Fund (Amendment) Bill, 2020" to enhance the contingency fund limit to Rs 500 crore in the wake of the COVID-19 pandemic.

This will be an ordinance making one time enhancement in the limit as the government needs money to make payments immediately, Law and Parliamentary Affairs Minister JC Madhuswamy told reporters after a cabinet meeting.

Under the contingency fund, the government had room to spend up to Rs 80 crore without budget provision.

"...but this time due to COVID-19 as we had to give money to some sections that were in distress like barbers, flower and vegetable growers, taxi drivers, among others, we have decided to increase the limit to Rs 500 crore," Mr Madhuswamy said.

"As assembly was not in session and as we had to make payments to those in distress immediately, this decision has been taken," he added.

The cabinet today ratified the administrative approval given to carry out civil and electrical works to install medical gas pipeline with high flow oxygen system at district hospitals, taluk and community health centres coming under Health and Family welfare department in view of COVID-19.

The minister said about Rs 207 crore is being approved for this purpose.

It also ratified procurement of medical equipment and furniture for public healthcare institutions of the health and family welfare department worth Rs 81.99 crore.

According to the minister, the cabinet has decided to bring in an amendment to section 9 of the Lokayukta act, which mandates that the preliminary inquiry contemplated by Lokayukta or Upalokayuta should be completed in 90 days and charge sheeting should be completed within six months.

Noting that at the Agricultural Produce Market Committee (APMC) cess was being collected, he said as the government had brought in an amendment to the APMC act, there was demand to reduce the market cess. "So we have reduced it from 1.5 per cent to one per cent."

Approval has also been given by the cabinet to bring Karnataka Vidyuth Kharkane (KAVIKA) and Mysore Electrical Industries (MEI), which are presently under the control of Commerce and Industries department, under administrative control of the energy department.

Other decisions taken by the cabibinet include deployment and implementation of "e-procurement 2.0" project on PPP at a cost of Rs 184.37 crore and ratification of the action taken to issue orders on March 24 to release interest free loan of Rs 2,500 crore to ESCOMs for payment of outstanding power purchase dues to generating companies.

The cabinet also gave administrative approval for setting up of an Indian Institute of Information technology at Raichur.

"Under this, we are committed to provide Rs 44.8 crore in four years for infrastructure," the minister added.

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