Govt returning 50% of black money to hoarders, says Rahul Gandhi

Rahul Gandhi accused Modi government of helping black money hoarders as half of illegal cash would now be returned to them with the Income Tax amendment.

Congress vice-president Rahul Gandhi accused the government on Wednesday of helping black money hoarders with an amendment to the income tax law, saying half of the unaccounted cash would now be returned to them.

Congress vice-president Rahul Gandhi and I&B minister M Venkaiah Naidu come out of the Parliament House in New Delhi. (PTI Photo)

The government has given 50% of the black money back to hoarders again, he said outside Parliament.

The Taxation Laws (2nd Amendment) Bill was passed by the Lok Sabha on Tuesday, providing a window to legalise black money after paying tax on the amount post-demonetisation. As per the bill, those who disclose black money to banks will have to pay 50% tax, including surcharge and penalty.

Asked about the walkout by the opposition MPs in the Lok Sabha, Rahul said: “There is a practice in Parliament that whenever someone dies we respect them. This is for the first time that there was no such obituary offered for those soldiers who had died (in Nagrota attack). So the Opposition walked out.”

Countering Rahul’s charges, Information and Broadcasting Minister M Venkaiah Naidu said, “It is unfortunate that Congress is doing politics over the issue involving defence of the country.”

“The Speaker informed that combing operations are underway in Nagrota. Once operations are over, tribute will be paid in the House to the soldiers,” he said.

Taking on Congress, Naidu said, “People of the nation hate such small politics. Congress party walked out during question hour and then came back. Congress neither wants any discussion nor wants House to function as they are scared of being exposed. It’s an insult to Nagrota martyrs.”