International Business

Adopt carrot and stick policy to get money from Swiss banks

Industrialist Rahul Bajaj today said the government should adopt a carrot and stick policy to bring back Indian money stashed in Swiss banks and suggested that identities of account holders should be protected. - Constrained by fiscal deficit - Explain the denial of information in "Black Money" case: CIC - SC fixes July 28 for hearing black money issue - Govt files affidavit on black money - Cong downplays, BJP inflates black money figures: Author - Sunanda K Datta-Ray: Have a heart">Sunanda K Datta-Ray: Have a heart "Tax this money at the maximum tax rate prevailing in the country and give them (account holders) the carrot that after the tax, the money will be legal. Give them a strong stick... a time frame and say that after this 100 per cent of their money will be taken away," the Independent member said in the Rajya Sabha. Participating in a discussion on the Finance Bill, he demanded steps to bring back the money and suggested that the identity of account holders be protected. Even government officers should not come to know the names, he said. Saying there are various ways to do it, Bajaj suggested allowing account holders to bring back the money through "bearers"s bond", which will automatically enable the government to tax it. He said that otherwise only small people will come out to declare their deposits but not the big ones adding, "there are very big people", whose money is deposited there. Bajaj said since account holders will be allowed to bring back their money only after paying tax, the "ethical question" surrounding the issue will also go away. The noted industrialist felt that the Switzerland government on its own was not going to allow this money to be returned to India.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

Categories
Business Ideas
Business Opportunities
Corporate
Home Business
International Business
Management
Online Business
Public Company
Public Relations
Small Business
News of the day
IT parks again on Madhya Pradesh government agenda
After frustrating traditional bid attempts for its SEZ-categorised IT parks in Indore, Bhopal, Gwalior and Jabalpur, the Madhya Pradesh government is likely to re-bid for the parks through Swiss Challenge System, under which the government can also take offers from private parties, unsolicited. It is also likely to change the model of sale of IT parks so that the developers can attract private partners. Crystal IT park in Indore, a complete infrastructure of eight-storied building, has no taker for years, and the Bhopal IT park is reportedly going the same way before it can see the light of day. Few months back Zoom Developers pulled out of the Crystal IT park project after successfully bidding for it.
Popular Articles
Modern furniture stores in da

Kingfisher Airlines to raise up to Rs 500 cr through equity
Kingfisher Airlines, owned by UB Group, is planning to raise up to Rs 500 crore through issue of further share capital. Company officials indicate that this may be through a number of options including a follow-on public or rights issue.

HAL offers trainer aircraft to resolve IAF crisis
Not since the dark decade of the 1990s, when the Indian Air Force crashed 177 aircraft — losing 54 young pilots and some Rs 1,000 crore worth of equipment — has the air force faced such a pilot training crisis. The long-delayed Hawk trainers, which began arriving in India in 2007, have improved advanced training for IAF flyers. But the crucial introduction to flying, conducted in antiquated HPT-32 Deepak and HJT-16 Kiran aircraft, is taking a growing toll on pilots’ lives.

© Copyright 2009