KCR recommends 'amnesty scheme' to disclose black money

Hyderabad, Feb 19 Telangana Chief Minister K Chandrasekhar Rao Tuesday said the Centre needs to turn out with an 'absolution conspire' for tax evaders in order to encourage them to disclose black money.

Sharing his worries to the NK Singh-headed fifteenth Finance Commission which is as of now on a voyage through the state, KCR stated, "We also need to bring out an attractive and practical tax amnesty scheme for bringing black money to the country and to invest it in infrastructure."

The amnesty scheme brought out in Indonesia in 2016-17 brought about a revelation of US $ 366 billion (Rs 24 lakh crore).

In another amnesty scheme in Italy in 2009, people proclaimed US $ 137 billion (Rs 9.79 lakh crore).

Every Indian should be a proud tax payer and partner in nation building, the chief minister said in a official press release.

The tax payer may voluntarily pay regardless of whether it is simply Re 1, the discharge cited KCR as saying.

Referring to water shortage, he said,"We should focus to supply water to each town in the nation inside 5-6 years, which may cost between Rs 8-10 lakh crore."

On the current foundation in the nation, he said its status was a long way from palatable and proposed spending no less than three-four percent of the GDP in the area.

Referring to the agricultural sector, KCR said that following efficient irrigation systems such as drip, sprinkler and piped irrigation, the task of universal irrigation could be achieved with lesser quantity of water.

He said India needs another monetary model that has states at the front line. At present, the development of the nation is constrained to only 8 to 10 states, while others are a long ways behind.

If the nation needs to develop and tap its potential, each state needs to duly leveraging its resources and potential, adding that the states should be given more space to prioritise issues at their level.