The government sets a panel for Elephant Bonds for infrastructure projects and investing undisclosed income. The panel was headed by;

2019

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The government sets a panel for ‘Elephant Bonds’ for infrastructure projects and investing undisclosed income. The panel was headed by;

A	Adil Zainulbhai
B	Sanjeev Sanyal
C	Rajiv Kher
D	Surjit Bhalla

Explanation:

Detailed explanation-1: -A High Level Advisory Group on Trade Policy (HLAG) headed by Surjit S Bhalla has recently suggested the government to issue ‘Elephant Bonds’.

Detailed explanation-2: -Elephant Bonds are one among other the key recommendations of the Surjit Bhalla Committee.

Detailed explanation-3: -Elephant bond is a rupee denominated bond. The funds raised from the issue of this bond will be exclusively used for infrastructure projects in India. As per estimates given by a high-level trade panel, India could recover $500 billion of black money stashed abroad.

Detailed explanation-4: -’Elephant Bonds’ are an amnesty scheme to bring the unaccounted wealth or black money back in India. The black money holders get a chance to disclose their unaccounted wealth by paying minimum tax. However, they have to invest 40% of such wealth in long-term infrastructure bonds (Called as ‘Elephant Bonds’).

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