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When did the PM and his Ministers queue up for exchanging their ‘Cash In Hand’ ?

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When did the PM and his Ministers queue up for exchanging their ‘Cash In Hand' ?

The Prime Minister has directed MPs of his Party to declare their bank transactions to the President of the Party in a bid to lead by example to come clean on their actions ‘after' the decision to demonetizing currency notes of Rs. 500 and Rs. 1000 denomination. The leader of a prominent political party has demanded transparency regarding the alleged financial dealings of the top leaders of the BJP.

Meanwhile, the print and the electronic media have covered the travails of citizens across the country who rushed to banks to deposit their old currency notes and exchange some for the newly printed Rs. 2000 and Rs. 500 bank notes.

“Cash in hand” declaration made by Union Ministers in 2016

 

As required under Code of Conduct, the Prime Ministers and his Ministers have filed declarations about how much moveable and Immoveable assets and “cash in hand” they held officially by the end of March 2016. As this is publicly declared information, there is no reason to suspect any connection with “black money”.

However, every citizen who has stood for hours before banks to either deposit the old currency notes in their accounts or exchange them for the new ones has the right to know when and where did the Ministers deposit the small and large sums of cash they held in their bank accounts. This is a small way of commemorating those citizens who died standing in serpentine queues before banks. The first question that every citizen should ask is:

1) Whether these Ministers ever stood in queues like the common citizen whom they are sworn to serve, to deposit their demonetized notes unless all of them had cash in smaller denominations or sent their peons or relatives or some other person to make the transaction? When did they actually make these deposits?

The Government has indicated that the Income Tax (IT) Department may turn its scanner on account holders who deposit more than Rs. 2.5 lakhs in cash in their accounts either in one go or in installments. So the second question that citizens should ask is:

2) Whether the IT Dept. will look at Ministers making deposits above Rs. 2.5 lakhs with the same degree of suspicion as they will at an ordinary citizen who makes similar high value deposits?

In order to dispel any doubt about whether the declaration includes money deposited in bank have compiled this data also in a separate column in the attachment to contrast it with the data about “cash in hand” declared by the Ministers.

1) A large number of Ministers have declared cash in hand separately from bank balance and deposits of various kinds. I have indicated both figures against each name wherever data is available separately. I have not included these categories of disclosure for their spouses and dependents as they are not public figures. The remarks in the last column at some rows contain my comments about the quality of data.

2) The cells highlighted in red indicate those Ministers whose tax history must be scrutinised, in theory, if they have deposited demonetized notes worth above Rs. 2.5 lakhs because such rules are applicable to ordinary citizens.

The biggest amount of “cash in hand” in the Council of Ministers was declared by the Minister – more than Rs. 65 lakhs. I have triple checked this data published on the PMO's website. The Hon'ble Prime Minister declared more than Rs. 89,000 as cash in hand. When all these Ministers went to banks or whom they sent to deposit these amounts and when, are very important question that every citizen must ask.

3) 6 Cabinet Ministers and 5 Ministers of State have not included “cash in hand” data in their declarations, to the best of my knowledge.

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Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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