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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