New Delhi: Top industrialist Rahul Bajaj has come down heavily on the Narendra Modi-led Central government, saying the shine was wearing off it. Speaking to NDTV’s Sreenivasan Jain, the chairman of the Bajaj Group said, “We had an emperor on 27th of May 2014. Very few places in the world in the last 20-30 years (have) a success like that in the history of a nation. I am not anti this government. But the fact does remain, the shine seems to be wearing off.”

Bajaj was also critical of the government’s black money law. He said it was drafted with a vengeance. “I think drafting has been done with a clear presumption, which I feel, I can’t say for the whole group. I have no sympathy for people who did that. So, this has been done with a vengeance,” he said.

The Act, enacted after high-pitched politicking, deals with the menace of black money stashed abroad and provides stringent punishment of up to 10 years rigorous imprisonment and penalty of 90 per cent along with 30 per cent tax for wilful attempt to evade tax on assets held abroad by a resident.

Given the tough provisions of the Act, the government has also provided for a three-month compliance window up to September 30 to declare such assets and income held abroad under Chapter VI and pay tax and penalty of 30 per cent each by December 31 to escape prosecution.

“I declare it and then you say it’s an illegal declaration.” If that is the case, Bajaj says, “I can’t declare. I won’t declare. I will take my chances, go to Supreme Court, and fight it out. In my lifetime, nothing will happen to me.

(Agencies)