VOLUNTARY DONATION OF EXCESS WEALTH TO GOVERNMENT
In a Democracy Country like INDIA there are few very rich people who control the flow of money in the country. Our country is having a vast population of poor people and farmers. These people do not have a house of their own and proper food to eat. This is a country where majority of the population are farmers and farming is the main occupation. These farmers live in villages/rural areas.
The country has some big industrialists, businessmen, financers who run big industries/factories and businesses in cities or in urban areas. From these industries revenues are generated by way of taxes in various forms to the Government. Some of these industrialists, businessmen, financiers or politicians ruling the government by dictating their terms. They make and change laws for their own benefits as and when required. From the huge profits they make, they keep the money outside the country and deposit in foreign banks for safe keeping to avoid heavy taxes imposed on them by the Government. These industrialist, business men, financiers and politicians have WEALTH more than the normal WEALTH required by them and their families under benami names. This amount runs into thousand and thousands of crores of rupees. Even if two or three generations of their family can sit and enjoy their life with the money, without working throughout their lives. This money is amassed illegally and fraudulently by cheating the Government.
In a country like INDIA, what is important and crucial is that the Government should bring in a rule and a ceiling by fixing certain limit of amount of WEALTH for their own use and for their families and other members. The excess amount held over and above the limit by these industrialists, businessmen, financiers and politicians has to be donated to the Government for better utilization. By this way, the government can avoid black money or money fraudulently got by unscrupulous people. This would help the Government in getting the funds for building the nation and development of agriculture, industries and other infrastructures and give land to the poor and the landless farmers for cultivation by the Government.
There must be distinction between “BUSINESS ASSETS” and ‘PERSONAL WEALTH”. The need of donation is from the ‘Personal WEALTH’. The personal WEALTH over and above their requirements for three generations needs to be debated. THE CREDIT CARD HOLDERS ASSOCIATION OF INDIA ® and THE FINANCE CUSTOMERS ASSOCIATION OF INDIA ®, Executive Committee decided to conduct “DEBATE” on the subject “WEALTH DONATION” through out the country. All the citizens of the country should debate on this subject to a self imposed ceiling of Personal WEALTH and donating excess/surplus to the Government.
It is not easy to make the rich to share their wealth. But it is possible to convince them about the need of the Nation to remove the concentration of wealth only with few individuals, which is not at all required by them during their life time for their use. Instead they can be revered for their contribution to the Nation and the People.
C. V. GIDDAPPA