This is a simple plan to bring out the money hidden in Swiss Bank accounts to India.
I am sure, the learned people of our great nation can bring a better idea than this.
Get the list of Account holders from Swiss Bank and their balance from the last 20 years.
This must include the ones whose accounts have been closed in the last 20 years.
April 1,2013
Re-Open the VDIS (Voluntary Disclosure of Income Scheme).
By this scheme, all the money from the Swiss Bank can be brought to Indian Banks with a specified percentage of Tax Paid.
This scheme should be open till Mar 31, 2014 to give enough time for Individuals to decide & act.
Note : VDIS was first announced by Mr.P.Chidambaram in 1998 (the then Finance Minister) as a means to bring out the Black money.
It was much appreciated & he went on to be known as one of the Best Finance ministers in Asia.
Apart from the closing charges of the Swiss bank account, 10% (or 20%) of the remaining amount will be directly transferred to the Individual's bank account in India.
This is more than enough of what he/she deserves.
The rest of the amount will be deposited into the 'Reserve Bank of India'.
Jun 30,2013
Conduct an official training for those who have money in Swiss banks about the 'Negative effects of Black Money in the Economy'.
Be sure not to identify anyone. Even the instructors should not know the individuals.
The country has the duty to educate its citizens on the ill-effects of black money, rather than simply punishing them.
April 1,2014
Release the official list of those who have not returned their money from Swiss banks through VDIS and declare them as 'Traitors of the Nation'.
April 30, 2014
Withdraw protection to the Life and Property of those Traitors.(A 'Shoot at sight' order can also be declared :-) )
Confiscate all their passports, property and Freeze their Bank accounts in India.
Declare them as 'Traitors of the Indian Nation' to the world & International community.
June 30,2014
Release the list of those who have returned their money to India.(Unless they want to remain anonymous)
Reveal the amount of money accumulated so far and call for plans to streamline the amount into Development efforts.
States may ask for their share of it, which sometimes does seem fair.
In that case, states can be promised to be given a specific percentage of the amount, recovered from the Individual belonging to their state.
However, the stakeholder states should come up with plan on how they intend to spend the money.
This plan should be validated by a special committee to make any recommended changes.
Mar 31,2014
Come up with a 5-year plan on how to spend/distribute the money with specific futuristic sectors(Education, Energy, Healthcare, Infrastructure) that need the most attention.
Freeze the money in the Reserve bank till this date and use it only as planned.
Publish the results every year in the Union Budget, so that people can see and evaluate the results.
Publish the end result of the amount spent and the evaluate the results.
Sometimes, all it takes is just the first step...and the Will to make the 'First step'....
