The opposition continued to protest over the demonetisation issue.
After days of paralysis, the Lok Sabha today transacted some business as Supplementary Demand for Grants was passed amid ruckus created by some Opposition parties which continued to attack the government over demonetisation issue.
However, the Rajya Sabha continued to be stalled due to pandemonium, involving even clashes between the ruling and the opposition benches.
The second batch of Supplementary Demand for Grants was passed by the Lok Sabha by a voice vote after a short debate during which members of Congress, Trinamool and some other Opposition parties continuously shouted slogans. Several members, including Kirit Somaiya (BJP), Jayadev Galla (TDP) and Dushyant Chautala (INLD), participated in the debate.
Replying to the discussion amid din, Finance Minister Arun Jaitley sought to turn the tables on the Congress by daring it to name one decision its government had taken against black money during 10-year rule.
"I today challenge them (Congress) to spell out a single step that they had taken during 10-year of their rule against black money," he said, taking on the Opposition party which has been attacking the government over demonetisation.
Refuting the allegation that the government has given additional route to people to convert black money into white by paying 50 per cent tax, Mr Jaitley said the effective liability on them would be about 65 per cent, much higher than 8 per cent under the Voluntary Disclosure of Income Scheme (VDIS) of 1997.
"It is not just 50 per cent. Out of remaining 50 per cent, 25 per cent would be kept by government for four years. If you calculate interest on that, the effective tax comes out to be 65 per cent," he said.
As per the amendment to the Income Tax Act which is pending in the Rajya Sabha, the unaccounted income declared by black money holders during the 50-day window ending December 30 would attract tax and penalty of 50 per cent while the remaining 25 per cent of such income would have to be deposited with government for four years.
The Supplementary Demand for Grants and related Bills, which were approved by the lower house, authorise government to increase public expenditure by about Rs 60,000 crore though the additional cash outgo would be only Rs 36,000 crore.
The last time any transaction conducted in the Lok Sabha during the ongoing Winter session that began on November 16 was on November 29 when the House passed the Income Tax amendment bill within minutes and without any discussion. That bill too was passed amid din.