AGARTALA, Feb 2 (TIWN): Demonetization caused massive losses to CPI-M’s Black-money driven organization, which is quite evident over the reactions on Union budget . On the one side the tax relaxation for public earning between Rs 2.5 lakh-Rs 5 lakh from the current 10 per cent has first ever done in India which has heavily benefited middle class. On the other side, all ways have been closed for cash-transactions more than Rs. 3 lakhs which have hit hard for many politicians, corrupt businessmen and Govt officials. More over from April Rs. 2000 will highest anonymous entry in a party fund, which is to be proven as the highest ever surgical strike on Political anonymous funds. Tripura CPI-M State Secretary on Thursday as a part of his reaction told TIWN that the budget is not so extra ordinary as it missed the previous year’s data. Health, Education and MGNREGA funds nothing is impressive. He added that nothing has been given as special after demonetization.

It’s worthy to mention here that ‘Demonetization’, which had become the most sensitive issue for the Congress, CPI-M and as well Trinamool and the hottest issue to hit the Central Govt, have successfully covered 1.3 cores of bank accounts with more than 2 lakhs of deposited money. 

It reveals a huge amount of cash-stock was occupying by a certain section of people to them, but with demonetization all the accounts have filled with undisclosed cashes, which will directly help the market and will be used for various investments. Not only this, the accounts will be verified by personally calling many of them with mismatch of account with the family income. During the budget session Arun Jailty sais, “8 November to 30 December(demonetization period), deposits between Rs2 lakh and Rs80 lakh were made in 1.09 crore bank accounts”.

“India largely a tax non-compliant country. Due to demonetization, advance tax on personal Income tax increased by 34.8%. We are committed to make taxation rates reasonable. This approach will change the colour of money”, Jaitley added.

With the 50 day’s completion of demonetization, along with the whole nation Tripura Pradesh Congress also placed Rahul Gandhi’s a set of question before the BJP Govt. Among the questions the most important  questions was   From 8th November what’s the report of Black-Money collection?  

CPI-M and Trinamool also placed the same question. The oppositions claimed that no black money has been recovered from this demonetization; this was just a show off by the Modi Govt to hide his failure in black-money collection. 

However, finally the amount has been disclosed with the 4th Union budget declaration.  Moreover the RBI to launch electronic bonds. All these will bring an effect on the income tax as well as revenue collection.