Why Would Have Jagan Declared 10000 Crore?

When the news of a person from Hyderabad declaring 10000 Crore in the Income Declaration Scheme came up, at least Eight of every Ten people would have thought it may be Jagan. Given the corruption cases pending on him and his phenomenal rise during his father’s regime, Jagan will be the obvious choice for money leave aside it is true or false.

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But the question is why would have Jagan declare such amount and pay more than 45% of it as penalty and Tax? Experts come with an answer for this which looks very reasonable. Most of Jagan’s assets are under ED scanner and several of them are already attached. Liquidating those assets and moving money from them is becoming very difficult.

But then politics is very costly these days and they tend to get even more costly especially when you are in opposition. Leaders will look at you for party fund instead of contributing. So, Jagan is finding it extremely tough to arrange cash for the party’s day to day business and then there are impending local elections towards the end of the year.

Declaring 10000 Crore will mean that Jagan will have 6000+ Crore of White Money which is legitimate to be used anywhere and anytime. That money can now be used for the party expenses until 2019 elections. That looks like a valid explanation about why Jagan would have declared 10000 Crore.