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3:21 pm - Monday March 18, 9743

3 Lakh Limit

The Central Government has issued a new financial rule limiting the cash transaction limit upto Rs.3 lakh on cash dealing or in making purchases. The rule will come into effect from April 1, the new financial year has laid down that if any one who receives beyond Rs.3 lakh will be liable to pay the penalty of equal amount.

If some one accepting 5 lakh in cash he will pay 5 lakh in penalty. The penalty is 100 per cent. If a persons buys an expensive item costing above three lakhs the shopkeeper will pay the penalty. All such rules and regulation are directed towards eliminating the black money. But strangely the Modi Government is totally silent on the issue of black money of Indians staked in foreign banks.

In the last Lok Sabha election when Mr.Modi for party face for Prime Ministership he carried out the entire companion solely on black money in foreign banks. He even calculated it on the entire population of India of 125 crores people and divided at the rate Rs.15 lakh per person of India.

After the election and his becoming the Prime Minister people of India from all the corners of the country and from all the sections of society asked him and his party to bring back it as on first act of his Government. But Mr.Modi who roared about it in the election campaign became totally silent and even to this day has not uttered a word again. But the people and parties kept him pastering him on his issue relentlessly.

Just to escape this constant onslaught the Modi Government to diver the issue projected the issue of black money inside the country with the people of India. The demonetization was diversionary move in this directions. Still to this the Modi Government is not uttering a single world on black in foreign banks.

They demonetized the currency notes of 500-1000 and asked the people to change it with new notes at the banks. But it was a sinister move that the notes of 500-1000 were not printed and instead the Government issued new note of Rs.2000 denomination. That resulted in financial chaos and great hardship to people.

The Rs.2000 notes were absorbed in another set of black money and common people were told that there were no cash with it. It was obvious as the new notes of 500-1000 were not printed. The position is still very tight as new notes as required are not available.

The Government is issuing the new rules frequently as a game plan to hoodwink the people. Now with all sincerity and honesty toward the people of India Mr.Modi should take step to bring back black money of Indians from the foreign banks and allot and reward every Indian with Rs.15 lakh in his account and fulfill his poll promise.

Posted in: Editorial

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