#Review 2016: looking back at 2016

So after lots of research and the article on which I'am working on for last two three days is finally prepared,please share your views and tell us in comments if you find any other major event of 2016, I will try to add up soon. 

#Review 2016: looking back at 2016

This year was witness several political upheavals both domestically and internationally. While India is leading with Demonetization scheme, the US has been coming to terms with their new President Trump; the Syrian war finally show some sign of abating. Let's see what all made news in 2016!

#Review 2016: India demonetization 500, 1000 Bank notes

The Nation was taken aback on 8 November when PM Modi announced that old 500 and 1000 banknotes will cease to be legal from midnight .This move , against the fight of black money and counterfeit money , was followed up by the release of new notes of 500 and 2000.The sudden change was followed up poorly,with far lesser new notes in circulation,leading to a cash-crunch; there was an immediate crackdown on tax evaders. In addition , the multitude of policy changes left citizens confused.For more information read demonetization and its effects for the full coverage on this topic.

#Review 2016: Meet President Donald Trump

In an incident that stunt not only the US , but the entire world, republican Donald Trump became the next President elect after defeating democrat Hillary Clinton .However Trump's win lead to several instances of racial disharmony and hate crimes. Trump's policy choices continue to be

Donald Trump become the 45th President of the United States.

#Review 2016: the Tata ministry split

This all started when Ratan Tata ousted Mistry as the Chairman of Tata Group. The chairman emeritus believe that Mistry "Didn't respect the board and take care of his fiduciary responsibility" Mistry and Nusli Wadia were consequently removed from the boards of several group companies.

#Review 2016: Tamil Nadu amma passes away

 On the night of 5th December, 2016, one of the India's most popular politician figures and Tamil Nadu's CM Jayalalithaa was announced dad after prolonged illness. Her death left Tamil Nadu politics in turmoil and AIADMK party in chaos; her close aide Sasikala is the New general secretary.

#Review 2016: India's direct reply to pak with surgical Strike

 In a first direct military response to the attack on the real me Bass by Pak based militants that killed 18 Indian soldiers, India carried out surgical Strike across the LOC serious damage was inflicted upon the terror camps located in the area following this the diplomatic ties between both the nation.

#Review 2016: brexit-Britain and EU'S historical divorce

 In a closely contested poll, voters in Britain voted to leave the European Union (EU).The final vote tally was at 51.5 % for Brexit, against 48.5 % to remain .The pound took a pounding and fell 9.4 % after the vote. Experts state that this vote dealt the greatest blow to European integration since capital World War II.

#Review 2016: India's spectacular performance at Rio

 Indian athletes put up a spectacular performance at Rio Olympics. Badminton player PV Sindhu became the first woman to win a silver. Wrestler Sakshi Malik won the bronze in freestyle category and gymnastics Dipa Karmakar ranked 4th in the vault finals. Hockey team made it all the way to the quarter final.

# Review 2016: Exclusive Samsung Note 7 called back

Samsung had recalled its flagship Galaxy Note 7 smartphone over the faulty battery issue that had been linked to the phones explosion during or after charging .Experts had assessed that Samsung would in cost of approximately 1 million dollar to recall and replace all the Samsung Note 7 it had distributed. Several government have forbidden carrying the Note 7 on flights.

#Review2016: A year of major plane crashes

This year was full of some major plane crashes. The year started with the crash of Bombardier CRJ200 cargo freighter in Sweden on 8 Jan. The series continued with a series of crashes - Fly Dubai flight 98 crash, Egypt Air flight 804 crash, Indian Air Force is AN-32's disappearance and Russian Jet crash.

#Review 2016: Bob Dylan wins the Nobel Prize in Literature

Legendary 75 years old singer/ songwriter Bob Dylan has been bestowed with the Nobel Prize in literature. He has been given the award "for having created new poetic expression within the great American song tradition."  Though the award is usually announced along with the science medals, this year's delay in announcing the literature award, fueled Speculation that the panel was in this agreement over controversial candidate.

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Demonetization not a “war on black money” unless finances of political parties made accountable

While the common man is being subjected to infinite scrutiny and daily changing rules, the political parties enjoy to have a free-run at not disclosing a large part of their income, running into thousands of Crores. As long as the political parties continue to enjoy this exemption, the menace of black money cannot be said to have been tackled.

In one of the most unprecedented decisions in the Indian history that was taken on 8th November, 2016, the Prime Minister Shri Narendra Modi, suddenly announced the cancellation of Rs. 500 and Rs. 1000 notes with a view of “eliminating black money”. Over the last seven weeks, the PM has regularly reiterated this stand, and called Demonetization a “war on black money” through his speeches at various election rallies, the survey on his mobile app, and most recently in his “Mann ki Baat” program on Sunday. However, Mr. Nasim Zaidi, the Chief Election Commissioner of India, recently expressed that “many political parties are being used as conduits for siphoning off black money”.

             

As per the Representation of the People Act, 1951 (RP Act), political parties are not required to report the names of the individuals or organizations from whom they have received donations of amounts less than Rs. 20,000. A study by Association for Democratic Reforms (ADR) has shown that these ‘unaccounted donations’ form a large part of political parties’ income. In the year 2014-15 alone, BJP declared an income of 505.26 Crore from unknown sources, while Congress received a sum of 445.22 Crore from unknown sources during the same time-period. At present, there are over 1700 registered political parties in India, and many political parties may have been misusing this exemption to convert their black money, as voiced by the Chief Election Commissioner.

Following the uproar caused by the statement of revenue secretary, Mr. Hasmukh Adhia, about political parties being exempted for deposits made into their own accounts, the Finance Minister, Mr. Arun Jaitley was quick to bring out a press release, stating that no exemptions had been given to political parties ‘after’ demonetization. What he conveniently chose to ignore was that the political parties have long been enjoying these exemptions from ‘before’ demonetization. At a time when the rules for common man are being changed every day, why is the government not showing any intent to change the rules for the political parties? In fact, at his rally in Kanpur, the Prime Minister proclaimed that the laws regulating the funding of political parties were made by the Congress & the present government has “not altered even a ‘comma or a full stop’ in that.” The question which arises then, is that, if the Prime Minster considers Demonetization to be a war on Black Money, why has he not made any effort to change these rules which are helping the political parties to siphon off black money despite a warning from the CEC?

In the same press release, Mr. Arun Jaitley also said that “Under Section 13A of IT Act 1961, Political parties have to submit audited accounts, income & expenditure details and balance sheets.” However, further research of the documents analyzed by Association for Democratic Reforms in this matter shows that the reality is far-different from what is being projected by Mr. Jaitley. While, it is true that political parties are required to get their accounts audited by the Chartered Accountants, they are not required to disclose the details of donors giving less than 20,000 rupees to either the Election Commission or the IT Department. This is also evident from the Income-Tax returns filed by BSP for the year 2013-14. Moreover, can the IT Returns of the political parties make them accountable for their expenditures? A close look at the IT Returns of BJP for the year 2014-15 reveal that the party spent 2.1 Crores on ‘Entertainment’ within one year. If no red-flags were raised on this, who is to stop a political party from spending 21 Crore or 210 Crore on ‘Entertainment’ in the upcoming years? Such unchecked income and expenditure, can easily provide a ‘legal’ pathway to convert black money to white.

Another analysis by ADR reveals that out of 1703 registered political parties in 2013-14, only 69 parties submitted reports of donations (above Rs. 20000) to EC, while only 14 parties submitted their audit reports. The status of income and expenditure of remaining 1620 parties (~95% of the registered parties) remains largely unknown. Thus, if 95% political parties can go unquestioned about their finances, can Demonetization really be called a “war against black money”?

Recent revelations of an Enforcement Directorate probe which revealed that the Bahujan Samaj Party (BSP) deposited 105 Crores into their party account in 1000 and 500 rupee notes after demonetization only reinforce the need for making the political donations accountable. BSP's supremo, Mayawati has since explained that they received this amount in small donations from all over India since August 2016, and is therefore under the ambit of law. This is consistent with the income-tax returns submitted by the party to the Election Commission over the last 10 years, where BSP has not received a single donation over 20,000 rupees in the last ten years, as per the analysis of ADR. At a time, when the common citizen is being questioned for even depositing 5000 rupees in their personal account (Non-KYC compliant accounts are still required to provide a satisfactory reason to two bank officials), should the political parties be given a free-run to deposit hundreds of crores into their accounts without declaring the sources, while also enjoying 100% tax-exemption?

When according to the Prime Minister, the beggars are also using swipe machines, and he is urging the whole country to go cashless, why is he not leading from front by mandating the BJP and other political parties to go cashless? Why is the Modi government which enjoys clear majority in the Lok Sabha, not showing any intent to curb black money, by amending the RP Act, or bringing an ordinance to remove the 20,000 Rupees limit, despite suggestions by the EC? In the presence of this evidence, it is abundantly clear that unless the laws which allow political parties to freely deposit hundreds of crores in their bank accounts are amended, it would be grossly inaccurate to call Demonetization a war on black money.

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