Sahu represents Jharkhand in the Rajya Sabha for the Congress, and his family owns a sizable distillery in both that state and Odisha. His brother is the distillery company’s chairman, while his son serves as managing director.
The Income Tax Department needed six days to complete the note counting. The hoard appears to have originated from booze sales made in cash, which avoid all taxes, including income tax, VAT, and excise. A Kanpur businessman held the previous record for a cash hoard; in 2019, cash worth Rs 257 crore was taken from him. Numerous references to facts about the nation’s business, politics, and society can be found in the recovery.
Source: Business Standard
On the unexplained money for MPs, the Congress party has a lot to answer for. Even if the party has distanced itself from him, he and his family have been connected to it for many years. His brother was a party MP as well. It has been questioned if the funds were used for electoral or political purposes. The Biju Janata Dal (BJD), an opposition party, rules the state of Odisha, where the Sahu family has substantial economic holdings.
Everywhere in the nation, there is a strong tie between politicians, bureaucrats, and businesspeople; without this nexus, the Sahu family’s fortunes would not have flourished. Actions taken against politicians and businesses sometimes fail to come to a satisfactory conclusion. Actions are ineffective if the people they affect change their allegiance to the governing party. This is demonstrated by numerous situations.
Source: India Today
There has been no significant change in the amount of black money created in the nation after demonetisation. If there was ever any brief effect, it has since been mitigated, and the nation is once more flush with cash that has no place to go.
The only thing that has gotten harder is storing, as you have to keep your cache in denominations of Rs 100, Rs 200, and Rs 500, just like the Sahus did. The horde of Sahus could just be the very beginning. This unidentified and unaccounted-for iceberg would undoubtedly seep into politics and elections as it extends around the nation. Since Electoral Bonds are also anonymous donations and have shown to be biassed tools in favour of the ruling party, they are unable to stop the flow of money. Though it has implications beyond elections, the issue of black money is particularly significant now that the nation is about to hold national elections in a few months.
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