10 things the government can do with earnings from disclosed black money
The Narendra Modi-led government’s income declaration scheme ended on Saturday, and more than 64,000 disclosures amounting to a whopping Rs 65,250 crore in black money were made.india Updated: Oct 01, 2016 23:13 IST
By the end of the Narendra Modi-led government’s income declaration scheme, more than 64,000 disclosures amounting to a whopping Rs 65,250 crore in black money were made.
Union minister Arun Jaitley told reporters the four-month scheme that closed on Friday led to 64,275 declarations. He said the final figure would likely be higher. Factoring in taxes owed and penalties of 45%, the government could raise around Rs 29,362 crore from the declared black money.
We’ve compiled here a list of things the government could with the bounty:
1 Build 2,446 km of new roads
2 Build 293 km of high-speed railway track
3 Build 29,362 megawatt (Delhi’s power supply for 4.5 months) of thermal power plants
4 Build 129 primary rural schools
5 Pay the salaries of all central government employees and pensioner for over two months*
6 Reduce the fiscal deficit by 5.5% (Fiscal deficit target: Rs 5,33,000 crore)
7 Build two crore rural public toilets (Swachh Bharat mission)
8 Buy 163,122 buses for the government
9 Build 1.5 million low-cost houses for the rural poor
10 Fund the National Rural Health Mission for almost three years
*calculations based on 7th pay commission
If the decision was left to you, on what would you spend the money?