What for ?
For once again “ thinking out-of-the-box “
Can you give an example ?
Yes
He wants “ poor people of India “ to fund
highway construction projects
Here is that report :
Govt
exploring public financing for road infra projects: Nitin Gadkari /
MoneyControl / 15 Dec 2021
Extract :
The government is working on a scheme
to raise funds from the public at 6 per cent annual
interest rate for road infrastructure projects, union minister Nitin Gadkari
said on Wednesday in the Rajya Sabha.
"… We are working on a scheme to raise funds from the poor and ordinary persons for road projects. We will raise funds at 6 per cent annual interest rate which
is higher than what banks provide,” he said in the Upper House.
This will benefit the public as they will get a fixed return, he added.
He said there has been a 55 per cent increase in construction
of highway road to 1,40,936 km now which will further increase to 2 lakh km under Gati Shakti Bharatmala project.
Background :
On October 13, PM Modi had launched the ₹ 100 lakh crore national master plan for multi-modal
connectivity to develop infrastructure to decrease the logistic costs and boost
the economy.
Dear Nitinbhai,
We are a “ Nation in a Great Hurry “. Infra projects like
Gati Shakti Bharatmala, can raise our economy to a higher orbit, besides
providing jobs to millions
But I have serious doubts that offering to general public, a
fixed annual interest of 6 % ( much like a Fixed Deposit with a bank ), can
help raise Rs 100 lakh crore
Now Rs 100
lakh crores is approx USD 1333 billion . This is almost TEN TIMES the total tax collection of Govt of India from
its citizens.
And India’s GDP is USD 2660
billion ( Est for 2020 )
No doubt,
we do not need all of that USD 1333 Billion in
one go, right away
But, I think
you would want to immediately raise, at least, USD 400 Billion,
to begin with
Can your
scheme motivate 10 million Indians to contribute $ 40,000 ( Rs 30 Lakh
) each ?
I have
serious doubts !
I
strongly urge you to modify your proposal as suggested in my following earlier
e-mail :
Congratulations,
Shri Surjit Bhallaji, …………………….[ 31 Oct 2019 ]
Extract :
Ø Under a BLACK
MONEY AMNESTY SCHEME , all hidden income deposited in
Infrastructure Bank Accounts ( similar to Jan Dhan Accounts ), can only be used
for investing in Govt Infrastructure SPVs , with a lock-in period of 10 years and all interest / dividend to be only
credited to such Infrastructure Bank Accounts and no money can be withdrawn from such accounts for
specified period
Ø Dear Madam Nirmala
Sitharamanji,
I urge you to
accept the recommendation made by Shri Surjit Bhallaji and implement it with the following modification :
Ø Reduce
tax liability from proposed 15 % to 0 %
Ø Full
amount disclosed must be invested in Govt Infra Bonds
Ø Bonds to pay annual interest @ 5 % ( but
cannot be withdrawn for 10 years )
Ø No
questions / No litigations / No penalty / No re-opening of past tax-returns
With this
modification, it is possible to raise $
1,000 Billion ( extrapolating from the example set by Indonesia ),
within 6 months
With regards,
Hemen Parekh / 16
Dec 2021 / hcp@RecruitGuru.com
Related Readings :
Indonesia
Shows the Way………………………[ 23 Dec 2016 ]
Extract :
This
Indonesian Miracle must be viewed in light of following estimates of India's
Black Money :
* At 12 % of GDP ( $ 2300 Billion ), our BLACK MONEY
economy = $ 276 billion
Now imagine
, if we too had offered PMGKY ( Prime Minister's Gareeb Kalyan Yojana ) , to our black
money hoarders , at 5 % tax rate ( instead of 50 % announced )
We could
have managed to get them to deposit / declare , Rs 100 lakh*crore ( out of Rs 185 lakh*crore ) , with 90 % amount
being declared by " You know Who ? "
And
government would have collected , Rs 5 lakh*
crore by way of tax
Perhaps
enough to abolish Personal Income Tax from 2017 onwards !
We could
have done much better than Indonesia - and 5 years ago - had UPA government
considered my following blog / suggestion :
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