It
was June 1997 India need 50 billion rupees to stable its economy position.
Parliament held a meeting regarding this issue. Everyone is giving suggestions
to PM on how to resolve this issue, at the same time Indian finance minister
B.chand stands up and asks for permission from PM and wants to share something
with his colleagues. He said if I give you one idea from which government gets
money, and we don’t have to return it. Everyone said, “yes tell us.” He said,
“according to my study right now in India there is Five trillion black money, no
one used it even government can’t, if we make such scheme from which we declare
these five trillion as white money from this we will get two benefits, first-one that government will get a tax of 4000 crore dollars to 7000 crore dollars
and the second-one is One trillion 23 crores 33 lac rupees come out from secret
accounts and this money will start circulation in the whole world. Now the
point is how to implement it so if Today, we announce it that if someone had
black money and he or she get a chance to make it white money only by depositing 30% to the
government accounts, and we set a deadline of 31 December 1997. After that, if
someone caught with black money the government will be take action against
that person. Meeting ended and “voluntary disclosure of income scheme”
announced after its announcement a big amount of recovery seen by the
government till three Jan 1998 70 billion rupees are in the government
accounts.
Now, on the other hand, we see Pakistani bureaucrat
behaviors.
I just give you an example of one officer of 22nd grade. In 1996 an officer came to the office of national saving where he asks that he had some “National Saving Certificates” (it’s like prize bonds). He wants to change these. Chairman of National sSaving gave these certificates to his secretary for changing, after a few minutes cashier came with money and when this officer count he said it’s too less. He said with respect sir, there is a wealth tax on (NDSC). After listening to that statement he became angry and said return my certificates. I don’t want to change these right now. After a few hours, that same officer comes in office with a letter on which there is a stamp of the central board of revenue, and also order on 30/92, and under all these stamps, there are instructions for “National Saving” chairman that all those certificates on which there was a wealth tax, there will be no more tax on these certificates. After this chairman called the cashier and gave cash to that officer. When the chairman see off that officer his clerk gave him a report after saw that report chairman came in tension, the clerk said, “sir what happened.” He said, “Only for few rupees, and only in 50 seconds that officer gave damage to Nation of 83 crores 63 lac 22 thousand 13 rupees and it will become in trillion in next few months.”
I just give you an example of one officer of 22nd grade. In 1996 an officer came to the office of national saving where he asks that he had some “National Saving Certificates” (it’s like prize bonds). He wants to change these. Chairman of National sSaving gave these certificates to his secretary for changing, after a few minutes cashier came with money and when this officer count he said it’s too less. He said with respect sir, there is a wealth tax on (NDSC). After listening to that statement he became angry and said return my certificates. I don’t want to change these right now. After a few hours, that same officer comes in office with a letter on which there is a stamp of the central board of revenue, and also order on 30/92, and under all these stamps, there are instructions for “National Saving” chairman that all those certificates on which there was a wealth tax, there will be no more tax on these certificates. After this chairman called the cashier and gave cash to that officer. When the chairman see off that officer his clerk gave him a report after saw that report chairman came in tension, the clerk said, “sir what happened.” He said, “Only for few rupees, and only in 50 seconds that officer gave damage to Nation of 83 crores 63 lac 22 thousand 13 rupees and it will become in trillion in next few months.”

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