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.

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.

More than 64,000 disclosures amounting to Rs 65,250 crore in black money were made under the government’s income declaration scheme. (HT File Photo)

Read | Black money worth Rs 65,250 cr declared in tax disclosure scheme: Jaitley

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)

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?