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A K Bhattacharya: The dangers of exuberance

Income Declaration Scheme, 2016, didn't do as well as a similar scheme in 1997 and the government should avoid rolling out such schemes in the future

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Raisina Hill

A K Bhattacharya  |  New Delhi 

A K Bhattacharya

The Narendra Modi government is celebrating what it believes to be its outstanding effort at unearthing black money. It will be pertinent, therefore, to understand if the government’s celebrations are only a reflection of irrational exuberance or these are like some of its past, slightly exaggerated claims.

The four-month-long Income Declaration Scheme, 2016 (IDS, 2016), ended on September 30, leading to as many as 64,257 declarations for a total unaccounted income of about Rs 65,250 crore. Under the scheme, these declarations would fetch additional tax revenue of about Rs ...

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First Published: Sun, October 16 2016. 21:48 IST
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