Why is everyone on this "Get rid of Black Money" band wagon? I mean really? What is so bad bad about Black Money?
Hear me out.
In principle and in theory, everyone ought to pay their share of taxes so the govt can run and use this money for its operation.
That is all and good and I have no disagreement in theory and in principle.
But we need to go beyond theory and look at reality of what the govt of India does with the tax money.
First lets take the various State govts. For. eg in Tamil Nadu, the state govt is so corrupt (no matter if which party) that they have enough loot to give out free color TV for elections. The state of affairs in other state is not all that prettier with the exception of few states like Gujarat. They are highly inefficient to provide any social service. Hardly 10 Paisa for every rupee gets spend on projects that usually atrophies after a few years.
The central govt is not any better. The congress Party that has ruled India for over 90% of the time apart from national defense (Even that, the officers are hardly paid anything), they are not any better than the state in providing services. They are corrupt and inefficient to the point of irrelevancy.
The Black Money is still very much part of India's economy. Goods are exchanged and fair market price is used to arbitrate Supply and Demand. So it does not really hurt the economy of India at all! Its just that these corrupt govt bureaucrats are not able to get their share to loot for their spending spree that helps no one.
My suggestions to all rich business people of India is this. Please do your civic duty. But not pay to the silly congress govt or even your state govt (unless you live in Punjab or Gujarat) and do charity. Yes. Spend your fair share of tax money yourself to help others. Even sending your drivers children or your maid's children to school and college or sponsoring event like having health care for your local slums, or building public toilet facility at your local slums and managing these efforts yourself or your spouse is so much better than abdicating your hard earned money to the corrupt govt of India.
I believe Black Money is the best thing going for India. By not funding the inefficient organizations that do nothing good for the public you are doing your moral civic duty as a citizen.
If and when the govt decides to rectify their character, and you believe that they can mange the funds better than you can, then handover to them. Until then, you are the best person in spending your money to helping others which is your civic duty. The end results count. Not some BS theories which we Indians are good at debating and pontificating about.
So there! Think outside the Box!
