Thread by @manishgarg9999

@Rajeev_GoI @narendramodi 1/n
#Challenge every single individual, Party, association, group or influencers to debate on benefits of #Demonetization
#Agenda points for the debate could be as follows
A.Short term Purpose
B.Long term Purpose
C.Short term Benefits
D.Long term Benefits

@Rajeev_GoI @narendramodi 2/n
E.Side effects & yet to achieve targets

Short term purpose of #Demonetization & #Digitalization
a-To identify Persons, Organizations, NGO’s hoarding #BlackMoney
b-To bring terror funding under Government radar
c-To identify shell companies dealing in #BlackMoney

@Rajeev_GoI @narendramodi 3/n
d-Identify Government scheme money leaks
e-Identify foreign funding

Long term purpose of #Demonetization & #Digitalization
a-To reduce the gap between rich & poor
b-To arrest funds leak
c-To discourage #BlackMoney and encourage white money
d-Balance the tax structure

@Rajeev_GoI @narendramodi 4/n
e-To check and arrest Foreign funding
f-To strengthen Rupee
g-To keep Inflation in check
h-To keep a check on terror funding
i-To keep a check on fake currency

Now look at the short term benefits of #Demonetization & #Digitalization

@Rajeev_GoI @narendramodi 5/n
1.Rs 16000 Cr of didn’t come back to bank more than 99% of which was #BlackMoney & fake currency (Less than 1% was damaged/Lost/Legitimate notes)
2.Only Rs 3770 Cr was Declared under Income tax declaration scheme -2015 but Rs 65250 in IDS’16 (17 times more)

@Rajeev_GoI @narendramodi 6/n
3.2100 ppl declared Rs 4900 crore under #PMGKY (Cash declaration)
4.Rs 8861 Cr of Undisclosed income & assets ceased in one year to #Demonetization under u/s 132 (4)
5.91 Lacs new Taxpayers added immediately post #Demonetization

@Rajeev_GoI @narendramodi 7/n
6.Tax base increased by 1.26 Cr Taxpayers
7.Cash deposit of 2.89 Lakh crore under IT Investigation
8.Rs 47 Crore of fake currency detected in money returned to system

@Rajeev_GoI @narendramodi 8/n
9.Total 4.73 Lacs suspicious transaction detected
10.All transaction above 3 Lacs under scrutiny
11.Notices to 1.16 Lack for cash deposit of over 25 Lacs
12.Over 5000 Tax notices to deposits over 1 crore

@Rajeev_GoI @narendramodi 9/n
13.Around 18 Lack accounts scrutinized & Notices sent under OCM
14.Around 5.56 Lack people identified whose deposits does not match with their income profile
15.Around 5800 companies with withdrawal syndrome under government scanner

@Rajeev_GoI @narendramodi 10/n
16.Around 2.1 Lakh shell companies de-registered
17.Around 3.09 Lakh Board of Directors disqualified
18.Around 35000 shell companies were struck off
19.About 200 high risk clusters of person identified for appropriate action
20.Dubious Chartered accounts under scrutiny

@Rajeev_GoI @narendramodi 11/n
21.Around 460 Bank officials punished for alleged irregularities-CVC

Now look at the Long term benefits of #Demonetization & #Digitalization
1.Income tax returns rose by 34% from 4.35 Crores in 2016 to 5.8+ Crores in 2022

@Rajeev_GoI @narendramodi 12/n
2.Rs 6.54 Lakh crore worth of NPA recovered by Banks due to effective #Demonetization & #Digitization combined
3.More than 1 Lakh crore of #BlackMoney & assets attached by #ED
4.Many terror moles identified, scrutinized and punished due to #Digitization

@Rajeev_GoI @narendramodi 13/n
5.Total 46.25 crore PMJDY accounts opened with Rs 1,73, 954 crore outstanding balance
6.Total 5.4 crore #PMJDY account holders received direct benefit transfer (DBT) from the Government under various schemes in June, 2022 (no middleman)

@Rajeev_GoI @narendramodi 14/n
7.more than ₹20 lakh crore was transferred through the DBT mode post #Demonetization (Imagine the scope of corruption if this was cash/cheque) transfer
8.Highest ever #GST tax collection due to white economy and growth

@Rajeev_GoI @narendramodi 15/n
9.Digital transactions from total transaction in ##India increased from 11.3 % in 2016 to 80.4% in 2022
10.At 48 billion, #India accounted for the largest number of worldwide real-time transactions in 2021, almost three time that of

@Rajeev_GoI @narendramodi 16/n
nearest challenger China (18 billion), and 6.5 time .. greater than the US, Canada, UK, France and Germany combined
11.#Indian #UPI system contributed record over 7 Billion transactions in above worth Rs 12.11 Trillion in 2022

@Rajeev_GoI @narendramodi 17/n
12.Deposits in banking system increased by 7 Lac crore
13.A number of NGO’s receiving unauthorized foreign funding were identified and disqualified
14.Reduce the cost of printing notes
15.96 cr bank accounts linked with Unique #Aadhar card out of 110 lakh accounts

@Rajeev_GoI @narendramodi 18/n
Now look at the side effects & yet to achieve targets of #Demonetization
1.Least inconvenience to poor as they do not deal in large currency notes
2.Some inconvenience to those who kept some stash of legitimate money not deposited in banks

@Rajeev_GoI @narendramodi 19/n
3.Temporary setback to Business who deal in cash & effecting employment as well
4.Objective yet to be achieved is to completely eradicate the fake currency which off course can be achieved soon by growing #Digitization

@Rajeev_GoI @narendramodi 20/n
5.Cash in use was growing at very fast pace which has bit slowed down now but can be achieved soon by growing #Digitization (E-Rupee)

Fact remains that those side effects were meagre in comparison to huge benefits ##India gained while

@Rajeev_GoI @narendramodi 21/n
worth 5 Lakh crore of #BlackMoney had been captured/Admitted/came back post IDS & due to effective, Demonetization, Digitization, recovery by ED & recoveries under “Benami & imposition” tax.
Worth 20 Lakh crore is kept away from the possibilities of

@Rajeev_GoI @narendramodi 22/22
corruption so far and counting

And nearly all big transaction in #India are under #Government radar due to effective, #Demonetization & #Digitization

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