Modi must be tried for looting people's money: Anand Sharma

Congress leader Anand Sharma on Monday demanded Prime Minister Narendra Modi should be held accountable and tried for "looting people's money".

The Deputy Leader of Opposition in Rajya Sabha was reacting to the government's move to introduce a bill in the Lok Sabha to amend the Income Tax rules and coming up with an income disclosure scheme called the Pradhan Mantri Garib Kalyan Yojana (PMGKY) 2016.

"Let Lok Sabha consider the bill, then we'll take care whenever it comes to Rajya Sabha. They cannot enact it as a law before it is passed by Rajya Sabha," Sharma told IANS.

"Modi is looting people's money, and now he is trying to be generous. First banks collapsed, then people's money was looted, and they were forced to put it in banks. Illegally people were denied access to their own hard-earned money. Now, he is trying show generosity by starting this Jan Kalyan Yojana," he added.

"The prime minister must be held to account and tried for looting people's money."

His Lok Sabha colleague Gaurav Gogoi said: "It is another scheme allowing those who have unaccounted money to be legalised. While the poor is suffering and is unable to withdraw their hard-earned money, those who have got black money are being allowed a way out."

Finance Minister Arun Jaitley on Monday introduced a bill in the Lok Sabha to amend the Income Tax rules, levying a tax of 60 per cent on undisclosed income or investment or cash credit deposited in the banks.

The government has also come up with an income disclosure scheme called the Pradhan Mantri Garib Kalyan Yojana (PMGKY) 2016 which allows people to deposit money in their accounts till April 1, 2017, by paying 50 per cent of the total amount -- 30 per cent as tax, 10 per cent as penalty and 33 per cent of the taxed amount, that is 10 per cent, as Garib Kalyan Cess.

--IANS

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