Pranab's White paper on Black money called a "BIKINI"

Discussion in 'Politics & Society' started by H.A., May 21, 2012.

  1. H.A.

    H.A. Senior Member Senior Member

    Dec 24, 2011
    Likes Received:
    The White Paper, which was presented by Finance Minister Pranab Mukherjee in the Lok Sabha, also does not share the government's estimate for how much black money exists within or outside India. The report does quote the calculations of other agencies.

    "This white paper is in reality a non-paper...(it's) really rather a bikini because it conceals the essentials and exposes the non-essentials," said the BJP's Jaswant Singh. "The shortcomings include no reliable quantification of illegal money," he said.

    The Finance Minister has suggested fast-track courts to expeditiously deal with financial offences. The government also wants tax incentives to promote the use of debit and credit cards since these transactions help establish how money is being spent.

    The report says that self-regulation in the private sector is not working and recommends that an independent regulator be appointed.

    In order to curb black money in the real estate sector, which accounts for 11 per cent of the Gross Domestic Product (GDP), the white paper suggests that the government develop a nationwide database and introduce TDS or tax deducted at source for the sale of all property.

    Read the entire White paper: Read: Government's White Paper on black money

    10 things to note: 'Black Money’ white paper: Ten things to note

    Pranab's white paper on black money is a bikini, says the BJP

Share This Page