A few senior members of the Indian Revenue Service fear that Union finance minister Mr Pranab Mukherjee may introduce in this Budget something akin to the Voluntary Disclosure of Income Scheme (VDIS). It may be done by reviving the Income Tax Settlement Scheme to help 2G scamsters and the like, especially those with money stashed away in foreign banks, so that they can disclose their income on condition of immunity from investigation by revenue Intelligence.
Lecture at the Dhanalakshmi College, Mahabalipuram.
India gets approximately 97 per cent of its total investment through domestic sources. The balance three per cent is what constitutes foreign investment. Yet, it is this meagre foreign investment that gets a disproportionately high share of media and debating space in the country, said Mr M.R. Venkatesh, Chartered Accountant.