July 23, 2016 7:43 PM

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FM Jaitley asks people to come clean on unaccounted wealth & live with heads held high

Union Finance Minister Arun Jaitley has asked people to come clean on unaccounted wealth and live with what he called heads held high. <br/><br/>Speaking at an event in Bengaluru today, he said, government is aware of sectors generating black money but it would be unpleasant to start the "big brother watching" process. <br/><br/>Mr Jaitley said, government has to trust its citizen and hence keeping a watch on their transactions is not a very happy thing for it to do.<br/><br/>Asserting that those who earn must pay taxes, particularly in a country where rates are reasonable, Mr Jaitley<br/>said that in future non-payment in all likelihood is going to be detected. <br/><br/>He further said, the idea behind the Income Disclosure Scheme is to nudge India into becoming more and more compliant state. The scheme is open till September 30.

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