2019 Budget : Introduction of FKC for IRHY
The Government of India is a modern day Inverted Robin Hood. They quietly run a very successful scheme. Let’s call this initiative Inverse Robin Hood Yojana. Hitherto referred to as IRHY.
IRHY robs from the middle class and poor and liberally distributes to the rich. The instrument of former is taxation and instrument of latter are Nationalised Banks. These are the vehicles through which the objectives of this scheme are achieved.
Vijay Choudhary, Nitin Kasliwal, Venkatram Reddy, Deepak Baweja, Jatin Mehta...do these names ring a bell? Well they should. Over a third of our money (assuming the highest tax bracket) is with them now and that too tax free. You may want to scroll down to see some of the beneficiaries of the IRH Yojana of the GOI.
The modus operandi is simple. Loans have been given to the firms of these gentlemen, they have defaulted, these loans have been written off (mind you they are all classified as wilful defaulters by their lenders meaning they have the ability just do not have the intention. There is a hole in the net-worth of the PSU bank which is filled by the budgetary allotment every year. Just Nirav Modi has wiped off 27% of PNB net-worth to give you a sense of proportion. I am marvelling at such a clean transfer of wealth that is achieved with minimum fuss.
The amount has now reached Rs. 1,00,000 crores or Rs.1 Trillion. This is daylight robbery and the commonality of these beneficiaries is that they live a high lifestyle, have properties all over the world, pose for page 3 pictures and you and I work to support their lifestyle.
Next ahead, brace for Fraudsters Kalyan Cess (FKC) to pay for the IRHY
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