Apex Chamber of Commerce and Industry has appreciated the efforts of the government to curb 'black money' and making strict tax rules in which it would become difficult to accumulate unaccounted money.
Chamber president PD Sharma said, “This is mainly due to arbitrariness, tax rules, discretions and corruptions. This has been admitted even by the economic adviser of the union government.”
Sharma said, “Over the decades rulers have encouraged black money by their actions and inactions based on political consideration. As a result rampant evasions in many parts of the country have given rise to evasion at other places too. As a result genuine business transaction cannot sustain.”
He said, “It is a pity that our rulers encouraged lax enforcement for years and then all of sudden clamped a very rigid and an impracticable enforcement.”
Sharma has also shot-off a letter to finance minister Arun Jaitley on the issue of black money.