1. Demonetisation: US hails India, says step was necessary to crack down corruption

Demonetisation: US hails India, says step was necessary to crack down corruption

The US today hailed India's demonetisation step saying it was required step by the NDA Government in fight against the black money.

By: | New Delhi | Published: December 1, 2016 12:20 PM
The action was taken to target illicit cash proceeds from corruption and tax dodging, he says. (PTI) The action was taken to target illicit cash proceeds from corruption and tax dodging, he says. (PTI)

The US today hailed India’s demonetisation step saying it was required step by the NDA Government in fight against the black money. It added that the measure was vital necessary step to crack down on this illegal actions or illicit actions. Speaking at his daily briefing State Department Deputy Spokesperson Mark Toner said that the action was taken to target illicit cash proceeds from corruption and tax dodging, due to which discontinuation of Rs 500 and Rs 1,000 notes was important.

Acknowledging that the step has cause inconvenience for the people as they had to stay in long queues in ATMs and banks to withdraw money, Toner felt that people in the country including the American citizens who are working or staying in India were required to adjust to certain extend. The spokesperson also expressed hope that Americans sating in India by now know how and where to exchange old currency notes with new ones.

The step, he felt also included a four-month amnesty for tax evaders in India, which resulted in disclosure oof billions of dollars in hidden assets. Toner was referring to NDA Government’s Income Declaration Scheme earlier this year, which brought out Rs 65,250 crore held by 64,275 people, according to Union Finance Minister Arun Jaitley.

Hitting out at Pakistan, he said that it was in the country’s interest itself to crack down on any terror group that is finding safe heavens in its border as it has itself paid the price of terrorism .He further said his government was working with Pakistan on the issue, which was aware of the US concern.

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