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11 lakh crore and by auctioning the oil sites, Rs 24 lakh crore could have been realised.
"Illegal money lying in foreign banks mostly stashed by politicians is Rs 120 lakh crore. And what is the total income tax bill...just Rs 2.5 lakh crore. Why should we pay income tax? I urge Nitin Gadkari that we should abolish income tax," he questioned.
"Do you think if you abolish income tax, the middle class will squander their money? No they will put it in banks and will be available for investment. It is the same with corporate income tax...You can abolish it.," Swamy added.