Indianexpress.com : comments : Not black-and-white

Not black-and-white

At the risk of sounding highly unpatriotic, the repeated calls to get black money back into India are naïve at best — calls that lack, frankly, any logic. It just creates a moral position that, like all such positions, is eminently avoidable. First of all, black money is not a hoard of cash tha ....Read more

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What nonsense!!By: Manish | Wednesday , 13 May '09 21:57:19 PM Reply | Forward Mr. Bhattacharjee, where did you study accounting and economics? I would not want my kids, or any of their friends, venture near that college.

You are definitely not an economistBy: Dhiman | Wednesday , 13 May '09 19:39:02 PM Reply | Forward Does'nt someone in IE actually vet the articles before publishing them. What is this guy writing? Why would GoI have to raise debt against Income??????If you wanna support INC, dont try to get intellectual - it goes against the party grain.

Unacademic ArgumentBy: Navendu Yajnik | Wednesday , 13 May '09 18:04:34 PM Reply | Forward This is the most un-academic argument I have ever seen. In a curious twist of logic, author feels that the money brought in will push up demands. Well, that is exactly what the doctor has ordered. In this weak economy, if the poor spend more, so much the better. And which grocer ever became so rich as to swell the ranks of Indian account holders in Swiss banks? Also, the RBI does not just 'collect' the foreign exchange. Please remember, RBI buys the foreign currencies. If the government were to get back this money from Swiss banks, it would get Rupees in exchange for the Swiss Franks from the RBI. So the Government does not have to borrow. Let us not be apologetic about the black money hoarded abroad. We must get it back.

Please don't twist the basics to prove your pointBy: Ab | Wednesday , 13 May '09 17:02:48 PM Reply | Forward "This means the sum will go to the Reserve Bank of India as any foreign exchange does in India. ""What will the Indian government do then? This, in banking terms, means the government will borrow humungous amounts from the RBI, by floating additional debt. "This is not economics at all.Govt. will not have to float any additional debt.The money collected will be surplus, govt can simply add it in revenues and reduce its deficit or expend it and keep the books as it is.

Crap way to justify the Italian madam personal party's viewBy: Abhishek | Wednesday , 13 May '09 12:53:35 PM Reply | Forward it seems some loyal guys can go all way to justify the stand of current govt not to get back black money. Dear 'Subhomoy Bhattacharjee' please write another article to justify the revelation that govt has sent the FORGED PAPERS to Swiss legal dept to get information of Hasan Ali swiss bank account (some 60K CRORE, only govt know why they sent such paper to weaken the case).

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