From Fiscal Deficit to Fiscal surplus in one year flat!

I am no economist. I am no politican. I am no magician. I am a common man, with simple wisdom and and a fair (idealist???) thinking.

I have a solution for the fiscal deficit probem India has, and the plan has the potential to turn into embarassing riches for the exchecquer. It goes like this...

The governemnt of India makes the following announcement:

We recognise the failings of the past, but firmly want to move towards a fair tomorrow. And hence we announce the following scheme.

1st Quarter (1st April 2010 till 30th June 2010)
Government of India has created a secure website for this scheme and invite Individuals and companies of India to declare their wealth honestly, in two sections - Income and assets you can prove is your own honest earnings and income that is disproportionate to your known sources of income. You will be immune to any prosecution, further more, you can keep 50% of the assests declared that are over and above that from your known sources of income and surrender the rest to GOI "Other Income Sources" account.

2nd Quarter (1st July 2010 till 31st September 2010)
You will be immune from any prosecution and can keep 25% of your ill gotten wealth.

3rd Quarter (1st October 2010 till 31st December 2010)
You will be immune from any prosecution and can keep 10% of your ill gotten wealth.

4th Quarter (1st January 2011 till 31st March 2011)
You will be immune from any prosecution but you surrender all your ill gotten wealth.

From 1st of April 2011, full force of law applies on civil and criminal prosecution on any disproportionate income found with any resident of India. The informers will be rewarded with 10% of the receipts from such "other income" for GOI.