Day of reckoning has come for many: Arun Jaitley on CBI raids

NEW DELHI: Union Finance Minister Arun Jaitley on Tuesday launched a website ‘Operation Clean Money’, in campaign against black money.


While speaking about the initiative, Jaitley said, “Post demonetization, there has been an increased movement towards a digital economy. There has been a fear of making deals in cash.”

The finance minister also addressed the CBI raids that were conducted on former finance minister P Chidambaram. “The CBI won’t act unless there is substantial evidence and reason to suspect that there was tax evasion,” he said.

Without naming anybody, Jaitley added that people in high positions acquring assets through shell companies was not a matter to be taken lightly. “The day of reckoning has come for many,” he added.

While talking of the new website, Jaitley said that the number of individuals under the tax net has increased by 91 lakh as unaccounted cash lost anonymity post note ban.

CBI raids: Department raids Peter Mukerjea’s home in connection with raids on P Chidambaram
Jaitley said he expects further increase in tax returns going ahead. “Post demonetization, there has been a hike in collection of personal income tax,” the finance minister said, adding that the new portal will help honest tax payer.

Earlier in the day, the CBI carried out searches at several places linked to former Union minister P Chidambaram and his son Karti over alleged favours granted in foreign investment clearance to a firm, INX Media, in 2007.

CBI raids: Chidambaram says govt wants to silence him; son Karti cries ‘political vendetta’
The CBI conducted searches at locations in Mumbai, Delhi, Gurugram and at 14 places in Chennai including Chidambaram’s residence at Nungambakkam.

The agency has on Monday registered a case regarding alleged irregularities in granting the Foreign Investment Promotion Board (FIPB) clearance to INX Media, run by its directors Indrani Mukerjea and Peter Mukerjea, in 2007 when P Chidambaram was the Finance Minister.

Separately, the income tax department conducted raids and surveys on at least 22 locations in Delhi and adjoining areas on charges of alleged benami deals worth Rs 1,000 crore linked to RJD chief Lalu Prasad and others.

With ANI Inputs