Cap cash transactions at Rs 10,000 says PIL in HC
New Delhi, July 26: A PIL was moved in the Delhi High Court, seeking directions to the Centre and AAP government to cap cash transactions at Rs 10,000, saying such a step would help curb illegal activities like terrorism, corruption and use of black money.
The petition, by BJP leader and lawyer Ashwini Kumar Upadhyay, claimed that "cash transactions in high denomination currency is used in illegal activities like terrorism, naxalism, separatism, radicalism, smuggling, money laundering, kidnapping, extortion and bribery".
Upadhyay has contended that a cap on cash transactions would force black money holders to declare their unaudited movable and immovable assets.
"Thus, in a long way, it will help in putting an end to black money," the petition said and added it would also lead to people depositing their cash in banks which in turn would generate revenue for government.
The plea said the government can use the revenue so generated for betterment of society and to provide good infrastructure and facilities to people.
The petition further said that black money "distorts and disrupts the public distribution system with great violence".
"It is inimical to the fostering of excellence and has adverse impact on EWS and BPL families."
It claimed that even after seven decades of independence, half of the population "is still in distress, leading a hand-to-mouth existence, large segments not knowing where the next meal is coming from, with abominable health standards and primary education levels".
"Much of this malaise is traceable to widespread corruption, benami transaction and existence of black money," the PIL alleged.