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Income Tax raids in Delhi and Mumbai after PM Narendra Modi Bans Rs 500 and Rs1000 Currency Notes

Raids were conducted in Delhi, Mumbai and some other cities based on reports of tax evasion by converting the older notes into other forms by illicit methods

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1000 rupee notes. Pixabay.
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New Delhi, November 11, 2016: The sudden demonetization in India has left many perplexed. While there are many who are struggling to get their currency notes exchanged, others are trying to salvage every last rupee from their illegal hoards.

In a masterstroke move, Prime Minister Narendra Modi announced the ban on the current 500 and 1000 rupees notes on November 8. This action was undertaken with the focus on to curb the unaccounted riches.

PM Modi tweeted, “I assure you the government is unwavering in its effort to create an India that is corruption free and fruits of development touch every citizen”.

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This has led to people flocking to banks to exchange their redundant notes for the new currency notes but many have resorted to illegal means due to the fear of investigation as a bank deposit worth more than 2.5 lakhs will undergo heavy scrutiny.

Raids were conducted in Delhi, Mumbai and some other cities based on reports of tax evasion by converting the older notes into other forms by illicit methods. Many traders have shut down their stores in fear of tax raid.

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PM Modi speaks about the discontinuation of Rs. 500, 1000 Notes. Youtube

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The Income Tax department has asked the investigation units in the country to keep an eye out for suspicious transactions in cash. The department claims, the actions they took were a part of a normal regular survey performed to curb such illegal practices. Items are bought at a much higher price and the hawala dealers (money launderers) exchange the cash for international currencies at unbelievably high rates.

New Rs 2000 note. Yahoo
New Rs 2000 note. Yahoo

Raids were conducted in Delhi, Mumbai and in some cities of Punjab after receiving reports saying that traders were accepting Rs 500 and Rs 1000 notes, which were no longer useful, to sell Gold at Rs 50000 per 10 grams and apart form that the dollar is soaring up to a 100 dollars in the hawala market.

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These radical steps taken to eliminate the biggest issue in India is a bold step. Centre has a clear intent to minimise corruption and black money.

However, Corruption on a larger level may not have anything to do with cash. This makes it possible for corruption to still be prevalent in spite of all the steps taken. The ban is also implemented to reduce counterfeits as they are printed in abundance and fund the destruction of a country.

– by Shivam Thaker of NewsGram. Twitter: @Shivam_Thaker

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India China’s Fight Over the Doklam Plateau Explained

Doklam or Donglang, is a disputed area between China and Bhutan located near their tri-junction with India

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picture from- indiaopines.com

By Ruchika Verma

  • India and China have an old history of disputes
  • This time, the dispute is regarding the Dokplam Plateau
  • The area is of strategic importance for both the nations

Disputes between India and China are not at all uncommon. The rivalry between the two nations is famous. There have been several disputes between the two on the India-China border in past, and there seems to be no stopping for these disputes in the present or future, for that matter.

India and China have a n old history of repeated disputes. zeenews.india.com
India and China have an old history of repeated disputes. zeenews.india.com

In June 2017, the world witnessed yet another dispute arising between India and China. This time the dispute was about China building a road extending to Doklam Plateau, which both nations have been fighting over for years now.

Also Read: China is likely to get involved if India disrupts $46 billion China-Pakistan Economic Corridor

History of the dispute 

Doklam or Donglang (in Chinese), is a disputed area between China and Bhutan located near their tri-junction with India. India doesn’t directly claim the area but supports Bhutan’s claims on it.

India fits into the picture, as this plateau is an important area for India. Not only is Bhutan one of the biggest allies of India; China gaining access over the Doklam Plateau will also endanger India’s borders, making them vulnerable to attacks.

Dopkam plateau is an important area near India, China and Bhutan's borders.
Dopkam plateau is an important area near India, China and Bhutan’s borders.

Apart from the hostile history of the two nations, the Doklam Plateau is also important for India to maintain its control over a land corridor that connects to its remote northeastern States. China building a road through Doklam surely threatens that control.

A complete timeline of what happened in the recent Doklam Standoff 

On 16 June 2017, Chinese troops with construction vehicles and excavators began extending an existing road southward on the Doklam plateau, near India’s border. It was Bhutan which raised the alarm for India.

On 18 June 2017, India responded by sending around 270 Indian troops, with weapons and two bulldozers to evict the Chinese troops from Doklam.

On 29 June 2017, Bhutan protested against the construction of a road in the disputed territory.  According to the Bhutanese government, China attempted to extend a road in an area which is shared both Bhutan and India, along with China.

Between 30 June 2017 and 5 July 2017, China released multiple statements justifying their claim over the Doklam plateau. They cited reasons as to why the Doklam standoff wasn’t really needed. And how China has not intruded into India’s territory to incite the standoff.

On 19th July 2017, China asked India again to withdraw its troops from the Doklam. On 24th July 2017,  Chinese Foreign Minister Wang Yi, in his statement, asked India to withdraw and behave themselves to maintain peace.

India and China seem to never agree when it comes to their borders. BBC
India and China seem to never agree when it comes to their borders. BBC

Also Read: Why India Must Counter China’s High-Altitude Land Grab?

What followed till 16th August 2017 was China constantly alleging India of trying to create trouble. They accused India of trying to disturb the peace and not withdrawing the troops, even after repeated reminders. They also accused India of bullying.

India, however, kept quiet during the whole fiasco, only releasing a statement regarding their stand and position at the Doklam standoff.

On 28 August 2017, India and China finally announced that they had agreed to pull their troops back from the Doklam standoff. The withdrawal was completed on that very day.

On 7 September 2017, many media reports claimed that both nation’s troops have not left the site completely. They were still patrolling the area, simply having moved 150 meters away from their previous position.

On 9 October 2017, China announced that it is ready to maintain peace with India at the frontiers. India reacted in affirmative, the peace was established when Indian Defence Minister, Nirmala Sitharaman’s visited Nathu La.

The issue between the two nations may rise again. Pixabay
The issue between the two nations may rise again. Pixabay

The Doklam issue, for now, is resolved. However, given the history of disputes between India and China, it won’t be a surprise if the issue resurfaces again in near future.