Dealing with domestic black money is the need of the hour

Abstract

Whenever there is a discussion on black money, there is a genuine mix up about domestic black money and black or illicit money kept by Indians in tax havens. These two needs to be dealt in different ways. Some part of domestic black money is used in productive activities like real estate, trade, construction, mining, transport, and restaurant businesses. The illicit money kept in tax havens is by and large not used for domestic purposes unless it is –round tripped through share markets or Foreign Direct Investment (FDI) to the domestic operations. In other words, domestic black money is a no confidence motion on the Government of India while illicit money kept abroad is a no confidence on India itself—its stability and its people. Read more at: https://rvaidya2000.com/2014/01/02/dealing-with-domestic-black-money-is-the-need-of-the-hour/