Benami properties, gold next on agenda: PM

[dasara_bullodu]

Prime Minister Narendra Modi on Sunday received standing ovation from audiences in Goa and Karnataka as he shed tears justifying his government’s demonetisation efforts, which have been criticised for mismanagement.

These were his first speeches since last Tuesday when he addressed the nation to declare that the old series ~500 and ~1,000 would be illegal tender. On Sunday, Modi announced the next step in his war on “black money” and corruption would be a crackdown on benami properties.

Ridiculing Congress Vice-President Rahul Gandhi for queuing up at an ATM kiosk, he said he would expose the shady financial pasts of those opposing the demonetisation move. He also said he would reveal the names of members of Parliament who had asked him not to levy excise duty on jewellers.


In a voice choked with emotion, Modi said in Goa he had made strong enemies who “will not let me live, who will destroy me.”

“But I ask the people of the country to help in this fight against black money for the next 50 days,” he said, adding if the scheme should fail people could do whatever they thought fit with him.

Without identifying the “enemies of the drive” the prime minister sent out a strong warning to them, “If you haven’t realised what I am made of, then do now… I will dig into your records dating back to when India achieved its independence. I will give jobs to 100,000 youths and ask them to do this work.”

Referring to Rahul Gandhi, the prime minister said those who oversaw 2G and coal scams were now standing in queues to withdraw Rs 4,000. He also said people were not rattled by rumours of scarcity of salt.

Modi said his government’s intent to end conversion of black money into gold. He said the 2016-17 Budget did away with the tax on use of plastic money with the objective of moving towards a cashless society.

But crucially, amid reports that the move has disrupted business and people are facing hardships, Modi attempted to correct the discourse. “The gains of this move would outweigh the pain,” he said, at the centenary celebration of an education society in Belgaum.

Opposition parties on Sunday said they would raise the issue in Parliament during the winter session that begins Wednesday. Delhi Chief Minister Arvind Kejriwal claimed demonetisation was a “big scandal” and the Seventh Pay Commission arrears component was too small to explain the huge surge in bank deposits in the last quarter.

Earlier at the foundation stone laying ceremony of a greenfield airport at the Mopa plateau in Goa, the PM said: “This (demonetisation) isn’t the end. This isn’t a full stop, I declare,” the.

He said demonetisation was a “secret operation” by his government that took 10 months to plan by a “small and trusted group” of people.

In over an hour long speech where Modi was overcome by emotion more than once, Modi said bureaucrats in Delhi have benami flats in Goa. He said his government has passed a law that has enabled it to crackdown on such properties.

Parliament passed the Benami Transactions (Prohibition) Amendment Act, 2016, in the monsoon session earlier this year. The amended law prescribes seven-year rigorous imprisonment for those dealing in black money in the real estate sector and also confiscation of benami properties.

The PM, digressing a little from the issue of black money, also indicated that a war wasn’t a probability. There has been speculation that India-Pakistan relations could lead to a border conflagration after the Indian Army’s “surgical strike” on terror launch pads on the Line of Control on September 29.

“I was recently talking to a journalist who brought up the possibility of war. I told him what a war could entail. How electricity supply might stop, trains will stop running as railway employees will be pushed into the war effort. He (the journalist) was shocked (at the ramifications),” the PM said. He said it was easy to indulge in talk of waging a war but reality was starker. The PM didn’t mention either Pakistan or “surgical strikes”.

The PM said his crackdown on black money would lead to housing for the poor, education of their children and cheaper medicines for the elderly. He said India’s demographic dividend, where 65% of the population, or over 800 million people, were below 35 years of age and needed opportunities.

[Peter123]

quick question, those pople who are doing a switch for 500 and 1000's in market, like for 500 exchange they are giving 300 or 350 right, how is it profitable to the exchanger, there is no paper work for the exchange he is doing, like not white right,,? so what is he going to do with that exchanged money of 500 and 1000's,,how is he going to deposit the money in bank, i mean there is no paperwork (legal) for that money right ?

Second Question - for example builders in real estate market -- now since everyhting is legal, can he still sell land/flat in black like beyond market rate ?

if yes, how is he going to do it, if no -- he doesnt have any other option than to sell in government market rate ?? and also the transaction between seller and buyer should be white...and buider is in complete loss now ?? since he cannot sell land rates like he used to, like way beyind market rate,,now since everyhting is transparent transactions...how is this gonna work ? either the seller is in loss now ? for ex he sells a flat for 50L, which is way beyond the govt market rate, can he still do that, if yes -- will the buyer has that much legal paperwork cash with him,,,? who is benefitting/loss here ?

Experts please shred some light in here...Thanks in advance

[krishna0125]

2 hours ago, Peter123 said:

quick question, those pople who are doing a switch for 500 and 1000's in market, like for 500 exchange they are giving 300 or 350 right, how is it profitable to the exchanger, there is no paper work for the exchange he is doing, like not white right,,? so what is he going to do with that exchanged money of 500 and 1000's,,how is he going to deposit the money in bank, i mean there is no paperwork (legal) for that money right ?

Second Question - for example builders in real estate market -- now since everyhting is legal, can he still sell land/flat in black like beyond market rate ?

if yes, how is he going to do it, if no -- he doesnt have any other option than to sell in government market rate ?? and also the transaction between seller and buyer should be white...and buider is in complete loss now ?? since he cannot sell land rates like he used to, like way beyind market rate,,now since everyhting is transparent transactions...how is this gonna work ? either the seller is in loss now ? for ex he sells a flat for 50L, which is way beyond the govt market rate, can he still do that, if yes -- will the buyer has that much legal paperwork cash with him,,,? who is benefitting/loss here ?

Experts please shred some light in here...Thanks in advance

money changing brokers will deposit that money in to poor people accounts or into account who got business and can show extra income and later cover them with with expenses or loses etc..

real estate will settle little more than govt rate and not def. market rate any more. He can take black money but buyer dont have the cash now in black so he will give in white or take out the cash and give in black again, buyer dont do that anyway, if he do it now, he get issues when selling it again later.

buyer also wont prefer to take in cash and its hard for him to dispose that cash to someone, so mostly eveything will be online, check, or loan transaction now.

apts with less than 40-50L doesnt effect much as most people go for bank loan and very little cash invloves.

 

apt more than 1cr, plots more than 1cr and commercial lands all will come down by 50%. mark my words. Intially people hold for some time in hope of getting good price after 6 months people starting selling for 50% less.

NRI's save your money till then dont jump on to investement right away if you see just 10-20% decrease.

 

[Pumpachak]

[Balibabu]

[TampaChinnodu]

Next disco gold shop owners ke. Notes ban chesaka kooda accept chesi gold ammaru. Bokkalo veyyali naa kodakulani.

[TampaChinnodu]

Govt getting all records on gold transactions including videos. Ammnodiki konnodiki iddariki disco soon.

[krishnote3]

[ManOnFire]

okkokkadiki Gu Gu Gu Gu Gu lu pagolipovali

[TampaChinnodu]

3 minutes ago, ManOnFire said:

okkokkadiki Gu Gu Gu Gu Gu lu pagolipovali

[Mr Mirchi]

sri chaitanya  narayana vaallu cash emi chestharoooooooo

[afdbzindabad]

47 minutes ago, TampaChinnodu said:

Govt getting all records on gold transactions including videos. Ammnodiki konnodiki iddariki disco soon.

nenu ade anukuntunna bhayya , next gold konnapude kadu , evaraina gold ammina pan card kavalantademo

 

 

ala cheyakapothey use undadu kada , eppudu gold konnna vallu ,  tarvatha aa gold ammi money white cheskuntaar ga  

[TampaChinnodu]

1 hour ago, afdbzindabad said:

nenu ade anukuntunna bhayya , next gold konnapude kadu , evaraina gold ammina pan card kavalantademo

 

 

ala cheyakapothey use undadu kada , eppudu gold konnna vallu ,  tarvatha aa gold ammi money white cheskuntaar ga  

Yes . Next step ade cheyyali. Kondaru gold shop owners ni bokkalo vesaru antey andaru line loki vastharu.

[Hyper]

19 hours ago, ManOnFire said:

okkokkadiki Gu Gu Gu Gu Gu lu pagolipovali