New Delhi: A Public Interest Litigation (PIL) was moved in Delhi High Court on Thursday seeking a ban on cash transactions above Rs 10,000. The petition may come up for hearing in the Delhi court on Friday.
The petitioner, Bharatiya Janata Party (BJP) leader and advocate Ashwini Upadhyay, demanded that the state and Central Government take appropriate steps in this direction and that an appropriate order is passed within 30 days.
The petition read, “It will not only help in curbing corruption, black money generation and Benami transaction but also in weeding out an organized crime like separatism, terrorism, Naxalism, radicalism, gambling, smuggling, money laundering, kidnapping and extortion and other similar threats to human security.”
According to the petitioner, cash transactions in high denomination currency, allegedly often used in illegal activities, inflates the price of essential commodities, major assets like real estate, gold and so on. It also causes distortion and disruption in the public distribution system adversely impacting on EWS and BPL families.
The plea also claimed that ban on cash transactions above Rs 10,000 will lead to an increment of 1% in annual growth, a clean electoral process which is dominated by black-money and Benami transaction.
Inputs from Nivriti Mohan