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India Fight Against Black Money - Showing Remarkable Progress

Indian Honorable Prime Minister Mr.Narendra Modi highlighted black money issue during general election in 2014.

Post forming the government Mr.Modi created SIT in the first week of the office. For the last 2 year government made number of regulations to block the transfer of black money.

The recent initiative by department of finance to enable black money holder to declare their assets under Income Declaration Scheme (IDS). Interestingly 64275 applicant tool advantage of scheme and declared assets worth 65250cr($9.96 Bn).

Government is expected to generate 29362 Cr on successful collection of taxes basis the terms and conditions of payment options.

Government also took numerous steps which unearthed unaccounted money of 56378 Cr during search. Operation coupled with 16000 Cr from non filer. If we add all government generated around 1 lakh crore in two years through their strong anti black money measure.

In my point of view the tax department and other agencies deserve appreciation for their hard work.
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About Devendra Prasad

20 years plus industry veteran of domestic and international ICT domain with the expertise in Business, Technology, Strategy and Analysis. Specializes in forecasting impact analysis, trends and recommendations for Investments, Technology and Regulations.
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