Foreign Media on PM Modi's Black Money Hunt: 'He Tried Everything'
Income tax officers in India will be burning midnight oil Friday. With a four-month window to declare undisclosed assets ending this month, Prime Minister Narendra Modi has asked officials to work into the night to handle a last-minute rush of declarations.
Black money, a colloquial term for income that has illegally escaped taxes, has been a hot political issue in India — Ambit Capital has estimated the country’s black economy at 30 trillion rupees ($450 billion).
Modi struck a chord with 1.3 billion Indians in the 2014 national polls by promising to give the impoverished as much as 2 million rupees each from such funds stashed abroad. A one-time chance to come clean on the foreign funds led to declarations of only about 25 billion rupees in tax last year, and the program for local cash ending this month might not be much different.
“What is probably stopping people is the 45 percent tax they have to pay instead of 30 percent (plus surcharge),” said Amarpal Chadha, a partner with EY India, a unit of one of the world’s biggest accounting firms. “The government has clarified enough it won’t take any action against the people who make declarations. Despite that, we have not seen a huge response.”
A jack-up in tax revenue through voluntary disclosures of secret assets would help Modi improve India’s dismal tax-to-gross domestic product ratio as he seeks to narrow Asia’s widest budget deficits. It would also help him score some political points, especially before the assembly elections in India’s most-populous state, Uttar Pradesh, next year.
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.