Black money, white noise and the grey zone in between

The black money issue is a good opportunity for a correction in the way we take our stand on national issues

deevakar

Deevakar Anand | October 18, 2014



What’s so auspicious about October 17, 2014 that the Narendra Modi government decided to go to the supreme court and filed an application stating that names of people with black money in foreign bank accounts cannot be revealed due to restrictions under the double taxation avoidance agreement (DTAA)?

It’s not as if the government, its ministers and mandarins, woke up yesterday and learnt about it. For this is precisely what the previous UPA government had said all along: that, and I repeat, the names cannot be revealed due to restrictions under DTAA.

But as the saying goes,, every cloud has its silver lining, and this, too, has one: that the political discourse has to improve. Vastly. It is also a good (un)learning opportunity– stop hooting for the heck of it. And stop opposing only because you are in the opposition.

That DTAA stops the government from revealing names of the account holders in Liechtenstein, the tiny tax-haven nation in central Europe, may or may not find merit in law, and that is for the court to decide (the three judge-bench headed by chief justice HL Dattu will hear the matter on October 28). But the issue reflects badly on the BJP, known to be a more organised party with research wings than the Congress. For, only the other month the party, and then PM candidate Modi, was in the middle of a high-pitched contention, holding the Manmohan Singh administration responsible for its failure to get black money from abroad.

But suddenly it appears all governments speak the same language – for good or bad. As a people, we like to discuss, propose, and oppose issues of national importance in ways which are anything but well-meaning.

One can be reasonably certain that all this noise about black money, and the Modi government’s purported U-turn on the issue, would drown out by Sunday. Instead, the talking heads would move on to the next topic as results of the Haryana and Maharashtra elections come out.

In fact, it’s only a matter of how soon the TV channels and the Twitterati can get hold of a more ‘exciting’ issue to play up. In that case, let me take a wild guess: by late this evening itself discussion on black money would be on the backburner.

What is more significant, and worrisome, as many would say, finance minister Arun Jaitley, who when in opposition had cried hoarse over the UPA’s ‘inability’ to act on black money, told us yesterday that the UPA is to be blamed for  getting us in this DTAA soup in 1995. So what does Jaitley want us to believe? That he searched for the information on Google only yesterday? That he didn’t know of it earlier when he was criticising the UPA?

The black money issue is a good opportunity for a correction in the way we take our stands on national issues. Instead of playing to the gallery and indulging in politics of convenience, we should take a more well-meaning approach in dealing with national problems.

This is also why an opposition party should sometimes allow one of its members to appreciate good work of the government and still retain him. Let  there not be more Shashi Tharoors who get fired as party spokespersons. For, spokespersons in opposition parties are not meant only to oppose, and change tack when the governing dispensation changes.

Comments

 

Other News

From one cow to a dairy business

In 2012, Anita Dash wasn`t dreaming of building a dairy brand. She wasn`t studying business models or planning market expansion. Like countless mothers across India, her focus was on something much simpler: giving her children a better future.   At the time, her most valuable

Ethanol blending: The two sides of a story

India`s crude oil consumption is estimated to be around 88.5% imported from abroad. This one single figure is also responsible for why ethanol has become both an economic strategy and fuel policy at the same time. In an economy like India, which depends so heavily on foreign oil, any increase in internat

Food inflation: Not a macroeconomic statistic but a developmental indicator

India`s retail inflation shows a reassuring picture at first glance. According to the latest data, Consumer Price Index (CPI) inflation edged up to 4.38% in June 2026 from 3.93% in May 2026, but continued to remain within the Reserve Bank of India`s (RBI) target band of 4% (+/- 2%). However, beneath this

Skin in the game or masterful market timing?

When a company founder opens their personal chequebook to buy shares in their own business, stock markets usually applaud. To the average retail investor, it feels like the ultimate vote of confidence, a sign that the people running the show have real skin in the game and believe brighter days are ahead.

India’s freedom struggle was shaped by wider Asian political thought

As we mark 80th anniversary of independence, ‘Asianism and the Fall of Empire’ (HarperCollins India) by historian Mithi Mukherjee offers a new perspective on Ind

What is colonialism? A relook at modern history

The Chromatic World Order: The Fiction That Rules Our World  By Sajid Mohamed Aakar Books  

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter