The government’s White Paper on black money falls far short of desires in so far as it has none of these revealed any names of foreign account holders, nor has it thought of an assessment of the measure of slush subsidizes stashed away in foreign banks.
Actually it has headed off to the degree of playing down the hazard of black money by handing out statistics to show that the cash held by Indians in secret Swiss Bank accounts has came down sharply. This was just to be needed, as the government's tardy action is certain to have given account holders enough chance to shift base.
All things considered, the White Paper has incorporated undermining in its ambit and proposed more stringent punishment for tax and duty evaders and those convicted under the Prevention of Corruption Act which is a welcome suggestion.
Then again, the paper has left numerous grey areas, for example its proposal to permit amnesty from prosecution to those who are ready to carry their cash from tax havens. While it states that this might be an one-time alternative, it too raises the issues of the ethical risk and open sentiment this might involve, in this manner winding up unable to take a positive stand on the subject.
Actually it has headed off to the degree of playing down the hazard of black money by handing out statistics to show that the cash held by Indians in secret Swiss Bank accounts has came down sharply. This was just to be needed, as the government's tardy action is certain to have given account holders enough chance to shift base.
All things considered, the White Paper has incorporated undermining in its ambit and proposed more stringent punishment for tax and duty evaders and those convicted under the Prevention of Corruption Act which is a welcome suggestion.
Then again, the paper has left numerous grey areas, for example its proposal to permit amnesty from prosecution to those who are ready to carry their cash from tax havens. While it states that this might be an one-time alternative, it too raises the issues of the ethical risk and open sentiment this might involve, in this manner winding up unable to take a positive stand on the subject.
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