BJP members knew about demonetisation beforehand 

Many party members converted their black money into white before demonetisation was announced by PM Modi, according to AICC research department. This article published a year ago throws light on this

Photo courtesy: Twitter
Photo courtesy: Twitter

NH Web Desk

Between September 16 and September 30 before the demonetisation was announcement, a staggering ₹3.03 lakh crore of time deposits – fixed and recurring – were made at Indian banks, according to findings of All India Congress Committee (AICC) research department.

Claiming that this has never happened in any fortnight in 16 years, the study found that in the fortnight after September 30, ₹1.2 lakh crore of time deposits were liquidated. “The same month saw a 13 per cent year-on-year growth of total deposits in all scheduled commercial banks while the previous month only saw 7 per cent growth,” it stated.

The study makes following explosive revelations:

  • Finance Minister Arun Jaitley tried to reason out this ₹3 lakh crore spike by saying that it may be due to the 7th pay commission arrears pay out. He was fooling the people since the payout was ₹34,000 crore – 7 percent of the spike.
  • BJP’s West Bengal unit deposited ₹1 crore in cash on November 8, hours before PM Modi made the announcement. The BJP also bought many plots of land in Bihar, again, just before this announcement.
  • Several BJP leaders were caught with stashes of cash. Sanjiv Kamboj, co-Convener of legal cell of BJP in Punjab put up photographs on social media with wads of new 2000-rupee currency notes on November 6, 2017 (2 days before demonetisation).

While Prime Minister Narendra Modi and Finance Minister Arun Jaitley repeatedly claimed that demonetisation was aimed at checking generation of black money and undisclosed income, the study also noted that suspicious deposits of the party members were not under scanner.

The study wondered as to why is the BJP not investigating and scrutinizing the occurrences instead of attacking the common citizens.

The study further lists following instances showing how the saffron party benefitted from demonetisation:

  • BJP president Amit Shah is a Director of Ahmedabad District Cooperative Bank, Ahmedabad. As much as ₹500 crore were deposited in this bank within 3 days of demonetisation.
  • Ramesh Gowda, an associate of Karnataka BJP leader and former Minister, G Janardan Reddy, committed suicide and left behind a suicide note stating conversion of ₹100 crore of black money by the BJP leader.
  • While Tax Terrorism is unleashed on the innocent, the investigation following the lavish wedding thrown by Reddy for his daughter, has lost steam.
  • Cash worth ₹91.50 lakh was recovered from the car of Subhash Deshmukh, Minister for Co-operation, Textiles and Marketing in the BJP-led government of Maharashtra.

“When it comes to BJP associates, there seem to be no efforts to look into suspicious transactions,” the study comments.

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Published: 08 Nov 2017, 5:55 PM