Baba Ramdev Needs Instant Government Attention ……… Is Solution Inbuilt ?

RSS Author RSS     Views:N/A
Bookmark and Share          Republish
Ahimsa Foundation ( ) appreciates Baba Ramdev for undertaking this challenge. Baba Ramdev your mission is for the benefit of every citizen and also imperative to maintain national pride. We wish you great health & a very long life.

After the break down of all communication lines with the government, Baba Ramdev is now going ahead with his mission. His foremost target is Indian Money illegally stashed in foreign banks by influential Indians and national corporate. With passage of time it is absolutely clear that, both Baba Ramdev and Government of India understand and appreciate the problem but, unable to recommend any solution. The Government has to work with several cross consideration and diverse view points. Baba Ramdev is genuinely a patriot, a nationalist and a big thinker. He is indisputably concerned with the welfare of common person. In spite of, the good intentions, he is not able to suggest the exact solution and roadmap to the government for resolving the issue.

Before making any attempt to resolve this issue, everyone involved, must understand the reasons for flight of Indian money abroad. The study should also look into the profile of the foreign bank account holders, their modes operandi and their organizations etc. It is an open secret that, these persons are extremely influential, politically powerful and resourceful. By terrorising them through legalities and punishments, nothing can be achieved. I request both Baba Ramdev and the Government to understand the crux of the matter and address the problem boldly.

We thank Baba Ramdev for taking up the issue so loudly, but we also request him to give solution to the government.

Government should also understand and accept its limitation in handling this complex issue. It should quickly think, in the over all and long term interests of the country as a whole. If required, some unpopular (in short run) decisions should also be taken in the national interest.

Since it is impossible for the present administrative machinery to handle the issue in the existing legal framework, the solutions may be derived through the application of a scheme drawn on the following lines.


This scheme may be based on the following guidelines. The scheme primarily offers foreign account holders to repatriate funds back to India with immunity from prosecution. All the incoming remittances under the scheme can be taxed reasonably (say 15%). Besides, the Government can also put certain conditions to route these remittances for the development of Indian infrastructure sector e.g. education, health, transport, energy, communication, road development etc. The scheme should be kept open for at least three years so that, effective results can be achieved. It takes time to understand the scheme and generate the required confidence in the law.

The adoption of this scheme can bring unprecedented success in bringing Indian precious foreign exchange back to country. This is the sole objective of Baba Ramdev. If we want practical solutions, the issue of handling corruption should be addressed separately. For this purpose the government is already in agreement with Baba Ramdev. Special Courts in adequate number can be setup both at central and state level to enforce discipline in the administration of the country. We hope the government will act in the right direction and Baba Ramdev will also accept practical solutions in the overall national interest.

Salient Features

1. All individuals and companies will be permitted to receive foreign remittances through recognized banking channels without declaring the source of funds. Cash deposits can also be accepted.
2. The remittance receiver will only be required to provide a declaration that, receipts do not relate to drug, terrorism and arms dealings.
3. All remittances under this scheme will be termed “Foreign Receipts” herein after referred as “FRs”.
4. The scheme should remain open for thirty six months after notification.
5. All FRs should be deposited first in a bank account opened for this specific purpose only ( like FCRA Scheme). Only one bank should be entrusted to provide banking facilities under this scheme. This will help the Government in monitoring the inflow and collecting taxes etc. State Bank of India is ideally suited for this purpose as they have country wide network.
6. All FRs should be invested with in nine months in the Central Government approved infrastructure projects. i.e. projects in the field of education, health services, transport, communication, energy etc. All infrastructure projects should be located in a town / village having population of less than 10 lakhs. Highway projects may be exempted from this requirement.
7. Receipts can also be invested in infrastructure development through the subscription of Infrastructure Bonds issue by Government. The bonds to be issued should have a lock in period of 5 years. The bonds may carry interest of 3.5% p.a. payable half yearly.
8. All FRs under this scheme should be taxed at the flat rate of 12.5%. This tax should be collected by the receiving bank same as TDS.
9. Recipients of FRs should be provided total immunity from prosecution and penalties for the amount received by them under this scheme.
10. All FRs under this scheme should be received in convertible / acceptable foreign currency.

Effects of this Scheme on Indian Economy

1. Under this simple scheme, we can expect an inflow of massive amount of foreign remittances.
2. Since, the inflow of foreign exchange will be on non repatriation basis, Government can use it to repay its expensive foreign loans and make the country debt free for the first time since independence. We will save crores of rupees which are presently paid as interest on foreign loans.
3. Indian currency will instantly get stronger and may even beat the lead currencies of developed nations.
4. Foreign exchange reserves will increase substantially.
5. RBI can become a net lender instead of habitual borrower.
6. All kinds of unemployment will vanish as physical development will take place in small towns and villages across the country.
7. Consumption of steel, cement, labour and other inputs in developmental projects will multiply national income. Both direct and indirect revenue will increase many many folds.
8. The scheme will completely transform the country with in thirty six months unless blocked by vested interests in and outside the country.
9. Average literacy rate in the country may go as high as 95% to 98% due to additional educational institution promoted under this scheme.
10. Health services will become much more economical and accessible by common person.

Precautions and Measures Required for the Success of the Scheme

1. The scheme will need wide publicity around the world.
2. Indian embassies should be involved to project the scheme.
3. Help centers and guidance centers should be set up to explain the scheme.
4. Immunity from prosecution to all recipients and their associates should be given in unambiguous terms.
5. Question regarding sources of funds should not be requested. This will defeat the basic objective of the scheme.
6. The use of terms like black money etc. should be avoided as that will be counter productive. The amount parked outside India for various reasons can be referred as “Foreign Investments”. This will generate tremendous goodwill.
7. The scheme should be managed / administered by independent committee reporting directly to Planning Commission. All ministerial interferences should be curtailed.
8. Infrastructure projects should be identified by planning commission, keeping in mind five year plans. These projects should be auctioned in open house on regular intervals to the individuals and companies participating in this scheme.
9. All surplus funds should be invested through Reserve Bank of India on commercial terms so as earn at least 8% to 10% returns p.a.
10. Religious donations should be kept out of this scheme. Scheme should not encourage flow of religion base funds.
11. Government should have the law to reward handsomely and quickly the informers about storage of illegal money.
12. The foreign account holders who fail to close their unauthorised accounts with in thirty six months (during the period of scheme) should be severely penalized and punished. Scheme can provide for minimum imprisonment of ten years for holding unauthorized accounts along with fine equal to amount deposited. No exceptions and no exemptions from the penalties should be provided. Informers of unauthorized accounts should be generously rewarded by cash incentives.


This scheme, if implemented with supporting awareness programme may change the face of the country in short span of three years. Issues relating to corruption etc. can be resolved discreetly. Government Treasury will start over flowing. Indian Economy can achieve 0% unemployment and net lender certificate from the World Bank and IMF. What else we can expect in a short span of time ……………………As a author of this scheme, I can say with confidence that, this will bring both economic and social revolution in the country.

Request to all the Readers of this Mail

Firstly, thank you for your attention and your interest in the development of India. This article is my reaction to every day news paper reports about corruption and other related issues. I feel everybody is talking of problems and problems. No one wants to provide solutions. Even the Lokpal Bill of Mr. Anna Hazare will identify the culprits and punish them but it can not destroy the root causes of corruption. Nor, it will benefit a common person directly or instantly.

Keeping this view in mind, I am proposing this scheme to our Governing Institutions. I request all readers to send their feedback about this scheme. Your suggestion will definitely help in improving the proposals. In case you are not in agreement with the above mentioned thoughts, please do let me know the reasons thereof. I will feel highly obliged.

Finally, in case you approve and appreciate the ideas placed herein above please help the nation by circulating this mail to all your friends, associates and all others, so that, it can reach to all concerned in the country.

Report this article

Bookmark and Share

Ask a Question about this Article