In my previous editorial, I had written the first of a two-part editorial on what must Modi do, now that he's in power. In that editorial, I had suggested that Modi must first focus on transforming the judiciary, improving education and healthcare services, and initiating employment generation schemes and slum-removal schemes to give people dignified existence. Continuing with that, here is the second part of my editorial on what else must Modi do: Legalizing Black Money I have suggested this in the past too; and shall suggest it again verbatim – we should legalize all the black money stashed abroad by structuring a consolidated tax payment of 10% on the black money amount. To sugarcoat the offer, even this 10% could be taken in five equal annual installments of 2%! But this has to be with two key riders! The first one is that the government must ensure that it takes persuasive and decisive action to recover the black money stashed abroad from day one. In this, the government shou...
Dr. Arindam Chaudhuri
(An IIPM Think Tank Blog)