Since Independence, India has seen the growth of black money. We should honestly admit our inability to curb the generation of black money. Now, India is going to be the new hub of economic activity. And, there will be economic polarisation. Hence, we should become a safe haven for black money from all across the world, better than a Swiss Bank. The terms and conditions to keep money should be elastic and tailored in the interest of the nation. The free convertibility of the currency will help a lot. The nature of depositors will indicate the source of black money.
The finance minister should be given the Param Veer Praja Bandhu award for his role as great warrior against economic inequality and injustice. Income tax, central excise and sales tax personnel should also be awarded for unearthing black money. The country may even attract money from China. We should learn to live with black money and utilise it for the rich and the poor. The art of developing the nation with the use of black money should be explored. The greed for wealth makes the society insecure and poor people suffer. Let this be turned into a shock absorber instead.
Subray S Bhat, Bangalore
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