Please check the exact amount and work out per capita loan. As long as weee are dveloping loan cannot be repaid fully. What really happens that we pay interest and also repay every loan. But we get new loan for new projects. Also there is no need to panick as long as the loan is utilized well and we pay interest in time. National loan differs much from personal loan. a person's life is limited. He must settle all loans in life period so that his successors sons/ daughters do not suffer after his death. But the life of nation is unlimited. The national loans can be for very long period.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
Please check the exact amount and work out per capita loan. As long as weee are dveloping loan cannot be repaid fully. What really happens that we pay interest and also repay every loan. But we get new loan for new projects. Also there is no need to panick as long as the loan is utilized well and we pay interest in time. National loan differs much from personal loan. a person's life is limited. He must settle all loans in life period so that his successors sons/ daughters do not suffer after his death. But the life of nation is unlimited. The national loans can be for very long period.
World Bank loans are given for developing business activities and also facilitating purchases from many countries by providing credit facilities. It boosts trade between nations. These are ongoing activities and no fear of any default or burden on India or Indians. Whether black money from Swiss banks will come in such numbers to pay off will be known when it finally comes.
Please check the exact amount and work out per capita loan. As long as weee are dveloping loan cannot be repaid fully. What really happens that we pay interest and also repay every loan. But we get new loan for new projects. Also there is no need to panick as long as the loan is utilized well and we pay interest in time. National loan differs much from personal loan. a person's life is limited. He must settle all loans in life period so that his successors sons/ daughters do not suffer after his death. But the life of nation is unlimited. The national loans can be for very long period.
World Bank loans are given for developing business activities and also facilitating purchases from many countries by providing credit facilities. It boosts trade between nations. These are ongoing activities and no fear of any default or burden on India or Indians. Whether black money from Swiss banks will come in such numbers to pay off will be known when it finally comes.
Even if black money is unearthed, you can only recover the evaded tax, interest and penalty and the remining amount gets status of white money. The government cannot recover the entire black money. There are provisios in Income Tax law for taxaing and levying penalty on evaded income unearthed through survey and raid. So black money should ot be cosidered as source of revenue for fundng government scheme of repaying world bank loan.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
Please check the exact amount and work out per capita loan. As long as weee are dveloping loan cannot be repaid fully. What really happens that we pay interest and also repay every loan. But we get new loan for new projects. Also there is no need to panick as long as the loan is utilized well and we pay interest in time. National loan differs much from personal loan. a person's life is limited. He must settle all loans in life period so that his successors sons/ daughters do not suffer after his death. But the life of nation is unlimited. The national loans can be for very long period.
World Bank loans are given for developing business activities and also facilitating purchases from many countries by providing credit facilities. It boosts trade between nations. These are ongoing activities and no fear of any default or burden on India or Indians. Whether black money from Swiss banks will come in such numbers to pay off will be known when it finally comes.
Even if black money is unearthed, you can only recover the evaded tax, interest and penalty and the remining amount gets status of white money. The government cannot recover the entire black money. There are provisios in Income Tax law for taxaing and levying penalty on evaded income unearthed through survey and raid. So black money should ot be cosidered as source of revenue for fundng government scheme of repaying world bank loan.
But try telling this to Baba Ramdev and other die hard fans who think black money from abroad will wipe out India's problems in one go. Propaganda has been used very effectively .
