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Has Modiji destroyed India with his demonetization drive ?

Anish George
Anish George, Go digital!,  Updated Feb 9

He sabotaged India in a way no one could.


How ?

  • The direct tax collection was up 12.01 per cent at Rs 5.53 lakh crore in April-December 2016, compared to revenue in the year-ago.
  • The indirect tax collections were up by 25 per cent to Rs 6.30 lakh crore.
  • Excise collection increased by 43 per cent, service tax 23.9 per cent, customs duty increases 4.1 per cent.
  • Compared to November 2016, indirect tax growth was 12.8 per cent in December 2016.
  • Digital transactions at petrol pumps rise to 30% after demonetisation.
  • Plastic transactions have jumped around 25 per cent per month since November 8.
  • Rs 13,192 Crores of tax were collected by 47 municipal bodies across India compared to just Rs 3,607 Crores last November.
  • Over Rs 4807 crore of un-disclosed income has been detected post demonetisation.
  • Rs 98.7 crore worth jewellery were seized.
  • Rs 112 crore worth new notes have been seized by the Income Tax department.
  • E- transactions per 1000 population

Tax collections up, demonetisation has not hit economy: Jaitley

Digital transactions jump 25 per cent per month since November 8 – The Times of India

The real sabotage

  • The Government will take care of interest for 60 days for farmers who had taken loans from district coop, central bank.
  • The government has raised cash credit limit to 25 per cent from 20 per cent.
  • In another landmark decision aimed at reducing deaths of mothers during childbirths, pregnant women will get Rs. 6,000 for their delivery, vaccination and nutritious meals.
  • Senior citizens will be assured 8 per cent interest on their deposits up to Rs. 7.5 lakh.
  • 4 per cent interest waiver on loan of up to Rs 9 lakh and of 3 per cent on loan upto Rs 12 lakh.

Schemes announced by PM Modi on New Year’s eve

99 lakh declared income below Rs 2.5 lakh and paid no taxes;

1.95 crores declared income less than Rs 5 lakhs

52 lakhs declared income between Rs 5 to 10 lakhs.

24 lakh declared income above Rs 10 lakh.

Why he implemented demonetisation?

And is it destructive?

You contemplate and decide!