PM Modi's Black Money: Ready for people!?
PM Modi is attempting to provide the nation's impoverished with black money.
It is well known that prime minister Modi's previous declaration that, should the bjp win power, he would give black money directly to the people created a great deal of media attention. It is well known that this sparked a heated discussion within political parties. But at a critical juncture in the nation's general election process, prime minister Modi has provided clarification on this matter. It is well known that Modi has stepped up his efforts lately to use his words to persuade people to vote for the BJP.
It is well known that prime minister Modi's previous declaration that, should the bjp win power, he would give black money directly to the people created a great deal of media attention. It is well known that this sparked a heated discussion within political parties. But at a critical juncture in the nation's general election process, prime minister Modi has provided clarification on this matter. It is well known that Modi has stepped up his efforts lately to use his words to persuade people to vote for the BJP.
The idea of a government distributing black money directly to citizens is highly improbable and not in line with standard economic or legal practices. Black money refers to funds that are not reported to the government and are typically obtained through illegal means such as tax evasion, corruption, or other illicit activities. Here are several reasons why such a distribution is unlikely and impractical:
In a recent interview, prime minister Modi disclosed that he is seeking legal counsel over the best way to distribute black money back to the nation's impoverished. The prime minister said in the interview that he is dedicated to putting measures into place to successfully fight corruption, with an emphasis on giving the victims access to the money that has been seized. According to the prime minister, of the Rs. 1.25 lakh crore that the authorities have so far taken, Rs. 17,000 crore has been given back.
Nonetheless, Modi revealed that real estate makes up almost 80% of the seized goods. The market worth of these seized properties would be ten times higher than Rs 1.25 lakh crore, according to senior supreme court lawyer Vikas Pahwa. It appears that the majority of these homes were purchased between the 1970s and the 1990s. He gave the following example: the property that was confiscated in the Pash region of delhi had a book value of Rs. 10–20 lakhs, but its true market value was Rs. 30 crores. According to Pahwa, a new law with a provision for property attachment in all circumstances—not just those involving the Enforcement Directorate—is anticipated in July of this year.
The notion of distributing black money directly to the people is not data-aligned with legal, economic, or practical norms. The indian government, under prime minister Narendra Modi, has taken steps to curb black money through measures like demonetization and promoting tax compliance. However, any recovered funds are more likely to be utilized for public welfare and development projects rather than direct distribution to citizens.