Money is not short in India. Only thing is Mr Jaitley has to be very strong in taking some harsh decisions to get the cash in Government kitty. Money is in the form of GOLD, HARD CASH, REAL ESTATE, FLATS, FARM LANDS AND COMMODITIES. Mr Jaitley has to find ways and means to convert these assets into cash. One way is to go in for a Gold Bank. Another way is to go in for a Infrstructure Bond offering some good incentives to convert hard cash into bonds. The other ways are to disinvest PSU shares and bring a law to the effect that no one can own more than one or two flats. The real esate market is becoming a speculative market like share market. The FM has to find some ways to contain speculative investments in real estate which should not be that difficult. Use Information Technology to build up data base to sort out speculative investments and bring some ordinance to prevent the same. Introduce dividend tax above a cut off limit. Those earning dividends in thousands of crores have a moral responsibility to come to the rescue of the nation and they should be compelled to share their wealth as a temporary loan to the Government free of interest or pay a portion of the dividend as cess to build the economy. Money can be easily found more than what is required.by Mr Jaitley. Readiness to act by the Government is all that matters.
Dr.T.V.Gopalakrishnan
(This comment is in response to SA Iyer's Article appeared in TOI dated 15/6/14).
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