20-Point Programme for Strengthening the Economy-Open Letter to Shri Manmohan Singh, Finance Minister

the Economy Open Letter to Shri Manmohan Singh, Finance Minister Government of India (1) Black Money Amnesty it is good to know that in principle it has been accepted by you that the tax evader can deposit his money with National Housing Bank and set back 60%, with 40% going to NHB. It is a concession compared to the normal tax of 68% which an individual as Partner of a firm has to pay and hence is tempted to evade, I personally feel the other schemes that you have offered, namely (a) of gifts from NRIs or (b) gift of foreign currency bonds by NRIs, are likely to become more acceptable in general as the cost of foreign exchange involved is in the range of 15% as per 'havala' rates of dollar which are published in The Economic Times.