Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Monday, 4 November 1985

ATTRACTING “BLACK- MONEY” FOR EDUCATION

FROM  THE REPORT

" CHALLENGE OF EDUCATION "

NOV. 1985
ATTRACTING “BLACK- MONEY” FOR EDUCATION
PRESENT SITUATION :


Present outlay on education is Rs. 3200 Crores. With 1% per annum growth-rate (in population & enrolment ) the expected outlay by 1990-91 is expected outlay by 1990-91 is expected to be double i.e. Rs. 6,400 Crores. But with the desired growth in education this figure is bound to be around Rs. 30,000 Crores.
Black-money in India is estimated varying between Rs. 37,000 to Rs. 72,000 Crores.
CHANGE/ ACTION DESIRED :


To mobilize the need of about Rs. 30,000 Crores for education we must exert pressure to channelize the cast reservoir of Black-money.

This can be accomplished by allowing people/ trust to invest in Educational Institutions. For such investments/ donations no questions should be asked with regard to source of income. Further, such investments must be allowed a return of 5% for 10 tears (exempted from tax) and thereof after 10 % return with maximum tax- liability pegged at 50% of the profits made.

ADVANTAGES EXPECTED :


-      The resources gap with be bridged
-      The “black-money” will get invested in constructive, nation- building, human-resource development oriented activity – a very noble purpose.
ACTION BY :


GOI – Ministry of Finance &
         Ministry of Education

No comments:

Post a Comment