To The Hon’ble Prime Minister of India
Without naming anyone, I would like to inform you that several people are running from pillar to post to hide their black money. Several have approached me with offers to hide theirs. Some are misusing public utilities, some are booking tickets on IRCTC, & some are aggressively buying gold at highly inflated prices. Your government has taken instant counter measures to tighten the noose on them. When I see others in chaos, I feel proud that I do even hold a single rupee of black money.
As yours is a very supportive and citizen friendly government, I have hope from you. Therefore, I have written to you today. Had it been the previous government, I probably would not have written to them. But again, had it been the previous government, this would not have been the situation in the country, in the first place! Black money holders would not have been in this mess under any other government.
Your Voluntary Income Disclosure Scheme (VDIS) was an impressie scheme. It was a brilliant move! Instead of availing the facility, many thought that they would pay 30% tax next March & get away with it. They forgot that yours is a benevolent government which gives amnesty to its citizens, but has no mercy for those who violate the law. These people are most troubled today. I decided to give you some feedback.
Sir, I do understand & agree that there are far-reaching & unrecedented consequences of this step. This has had multiple consequences. And I had co-authored an analysis of the consequences. Banks will come out of the cash crunch they are facing due to bad loans & high NPAs. By taking this stern step, you have made Pakistan bleed without firing a single bullet, effectively ending the funding of their Jihadi network. Above all, you have effectively finished the entire FICN racket. This move was indeed, a masterstroke, sir!
However, I would draw your kind attention to the fact that some people are in so much panic that they have started destroying bank notes, effectively wiping out the existence of Crores of rupees & permanently removing it from the economy. On seeing the news that some notes were burnt in Uttar Pradesh, I thought I would write to you. I, therefore, would like to request your kind self to give them one more chance, not to whiten their black money, but to use it for social service.
Sir, people are in panic. They will not help the poor even if they want to. NGOs, as we all know, are merely reduced to political tools now. However, this government has political willpower. Those with black money must be given an opportunity to silently donate it in service of the nation rather than throwing it into bonfires. Rather than investing so much time and energy begind extracting some amount of black money from them, will it not be wiser to use it in service of the nation instead?
To invest black money for nation building, I humbly request you to start accepting cash for donations in various government funds & schemes for the next five months.
I am well aware that the government has launched certain public welfare schemes over time. The structure is ready. So, you have to do nothing new! All you need to do is simply open your bank accounts to cash transactions. I know that there must be several people who hold black money, but still care for the nation, will go and deposit on their own.
You have shown your benevolence in the VIDS. If you wish, you can also give them time bound amnesty like you did in the VIDS for making these donations, too, considering that in hindsight, had they showed their true incomes and donated this money to these Funds, it would have been Tax Free U/S 80G of the IT Act anyway!
I have enumerated some such funds, explicitly mentioned in Section 80G below:
- The National Defence Fund
- Prime Minister’s National Relief Fund
- Prime Minister’s Drought Relief Fund
Several other funds are available in the list and I can enlist them all here. But I will not do so, because I have already conveyed my point. Also, for the sake of brevity.
Sir, kindly let the people holding black money deposit this money in your relief funds so that the government can benefit out of them. You can use the funds later, either for the welfare of the armed forces, or at the time of calamity. They will write off the black money. This will save them from fear of persecution and benefit the government greatly. So, it wll be a win-win-win situation for both.
I, therefore, request you to kindly consider this suggestion on urgent basis before it is too late so that the departments, banks and citizens have sufficient time to take appropriate steps. When a note is burnt, a thousand rupees are lost. But when donated, it goes in service of the nation.
Thanking You, Sir
An honest Citizen