As per news reports, the Government has set up a panel to examine if an Amnesty Scheme should be announced to tackle black money. Read the news report here.
The Finance Minister detailed a 5 point strategy to combat the menace. Here is my take on what the 5-point strategy would look like:
- Appoint a committee to examine if black money exists.
- If the committee concludes black money does not exist (i.e. “there is no proof”), close the matter.
- If the committee concludes black money exists, go to point no. 2.
- Examine if the black money resides in
or abroad. India
- If the money resides abroad, declare that nothing can be done and close the matter
- If the committee finds that black money resides in
, go to point no. 3. India
- Ask the committee to examine if something can be done to make black money disappear.
- If the committee says nothing can be done and black money is a worldwide phenomenon, close the matter.
- If the committee says something can be done, go to point no. 4.
- Announce an amnesty scheme, which will allow people to convert their black money into white.
- If the scheme meets with a poor response, announce that black money DOES NOT EXIST, otherwise it would have met with a good response.
- If the scheme meets with a good response, go to point no. 5.
- Announce that NOW black money does not exist, since all black money has become white.