USE BLACK MONEY FOR PRODUCTIVE PURPOSE


Every country in the world is finding it hard to overcome the economic burden brought in by the coronavirus.
We Indians too have our own problems to get over this hard time. However if the government is willing to convert this hardship into an economic wonder, we can certainly do it. How to do it ....

Initially the central government may make out a list of areas where money is required urgently. For instance, developing existing hospitals, bringing up new hospitals in international standards, manufacturing of hospital equipments, advanced industries for manufacturing export oriented goods, educational institutions of international standards targeting students from abroad, wide hospitality network all over the country, infrastructure development etc. Then, the Ministry of Finance can issue an order indicating that anyone investing any amount of money in these fields need not declare the source of the investment but have to pay the income tax at existing rate. Other terms and conditions may be decided by the government.

If the government can take this decision and act accordingly, most likely, plenty of black money shall come to the market and part of it shall flow into government exchequer. We have a huge amount of black money in our country which are being diverted into illegitimate area. Let us use this wrongly earned money for the benefits of the society at this hour of predicament.

KV George
kvgeorgein@gmail.com

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