tax evaders had managed to legalize their unaccounted money using mules and proxies to make deposits, made high-value purchases using back-dated bills and colluded with bank officials to exchange old currency.
Black money is a topic that has elicited much debate in recent times. In his new book — Black Money and Tax Havens — Prof R Vaidynathan provides an overview of black money — its generation, estimates and how and why it is spirited away to tax havens
To garner more votes, BJP has to move to the middle ground and not be too religion-based, especially since it is now being targeted by a new Congress-Left-Janata parivar front.
The rise of the BJP with a majority of its own in the centre will change the nature of regional politics. Most reginoal parties are caste-based and run by families, just like the Congress.
The UPA government has been pussyfooting around the issue of illegal wealth held in tax havens abroad - even when such information was being freely offered. Illegal wealth abroad is equal to treason
Households have to lock up a lot of their money in storing water and power for their use. If we fixed these basic problems, the urban savings rate would shoot up.
The Nehruvian model of the heavy-handed state had the backing of Bengali intellectuals like PC Mahalanobis. It has failed miserably. Time to take up the freedom oriented Gujarat model