Finance minister Arun Jaitely has proudly announced that 64,285 persons have declared their black money coming to Rs. 65,250 crore. The government will get Income Tax @ 45% of the amount coming to Rs. 29,362 crore. The name of the declarants will not be disclosed. Well and fine!
But certain questions are there. Instead of confiscating the entire black money, why the government is allowing it to be made white money by taking 45% tax only?
From the number of persons and the amount declared, it comes to an average of Rs. one crore or so for a person. This means that the declaration has come from the small fish only. Those big fish having hundreds or thousands of crores of black money have not declared at all. In that respect, the declaration process is a failure. What action the government is going to take against the big fish?
Whether it is NPA, Black Money, Corruption, Cheating, it is only the small fish which are caught in the net. The big fish, the big corporates, super rich, who have contributed much to the election funds etc. will never be caught. They will continue with their big mansions in In India and outside, numerous foreign cars and yachts, planes and helicopters and five star hotels and black money kept safe in the foreign havens.
What Dr. B.R.Ambedkar stated at the time of adoption of Constitution is relevant even today: Constitution has only provided equal vote for all; but there is no equality provided in income, education, job or any other thing.