How Big Is The Black Money Catch?

There are many questions which remain unanswered despite the announcement of a massive ₹65,000 crore being supposedly declared by tax evaders across the country.

- Sanjay Kapoor

When Union Finance Minister Arun Jaitley announced at a press conference that the four-month amnesty scheme for tax evaders had yielded ₹65,000 crore of black money that had been declared by thousands of those who had concealed their unaccounted for wealth, there was a visible look of bewilderment and awe amongst media persons and those watching the live telecast. A tax deduction of 45 percent will help the government earn ₹35,000 crore, which is a really large amount of money and could help in meeting a huge budgetary deficit – the largest in the Asian subcontinent. All of this sounds very good, but there are questions that remain unanswered and will probably continue to remain so since the  government puts up too many barricades to prevent people from gaining access to the unvarnished truth.