Income Declaration Scheme (IDS), a Narendra Modi-led BJP government initiative, has greatly put the people of India in sheer ecstasy over revelation of collecting Rs 65,250 crores so far, from 64,275 illegal income holders, in the process of bringing the black money to the surface.
This unprecedented scheme, started on 1st of June, allowed all the tax evaders to disclose their black money, to avoid punishment, by paying 45% of it to the government of India on a promise of maintaining secrecy over declarations and it's officially concluded on September 30. Union Minister for finance, Arun Jaitley on Saturday announced all the details to media and briefed how Modi's stringent actions have really worked in fetching out such a huge amount.
Surprisingly, Telangana state capital Race to declare assets: Rs 13,000 cr worth black money declared from Hyderabad alone. The list includes Mumbai in second spot with 8500cr, New Delhi with 6000cr and Kolkata with 4000cr. Reportedly, an individual from Hyderabad has declared 10,000cr on last day of the scheme.
PM Narendra Modi took to Twitter to congratulate Arun Jaitley and his team for the successful outcome of Income Declaration Scheme. He extended his compliments to all those who chose to be tax compliant in IDS-2016 and appraised them for tremendous contribution towards transparency & growth of the economy.