January 4, 2017
WHAT WAS CASH?:
Is India's War on Cash Paying Off? (Anant Vijay Kala, 1/04/17, WSJ)
In an early sign that India's crackdown on tax evaders is helping to swell coffers in New Delhi, the government this week lowered its borrowing plan by 4.2%. [...]Although the statement wasn't more specific about India's cash flow, bond market analysts say Prime Minister Narendra Modi's November move to withdraw and replace 500- and 1,000-rupee notes will help catch tax evaders, make them pay up and increase government revenue."It's because of the tax amnesty scheme or the demonetization that the government would be expecting to get some bonanza through tax penalties," said Soumyajit Niyogi, an associate director of credit and market research at India Ratings & Research.
Posted by Orrin Judd at January 4, 2017 4:50 AM