Sunday, September 25, 2011

CORRUPTION AND BLACK MONEY

Main sources to generate black money are corruption in politics, public domain, theft of tax and drugs etc. Which small accuses invests in unnamed property, gold, diamonds and big accuses first deposited in foreign banks afterward through the laundry they invest in foreign investment institutes, bonds, share markets, and properties as well as also succeed to reinvest in Indian stock market and big real state companies. Beside this through hawala they use black money in politics for election campaigns, buy and sale members of parliament / assemblies to form coalition Govt. Most important a major part of black money dumped in foreign bank.

SOLUTIONS (an idea):
Maintain all government and public sector department day to day documentations and accounts online like: debit-credit, sale-purchase, received and dispatched registers and revenue collection from tax and penalty for the use of exchequer, PIL and RTI monitoring purpose. Govt. can also include cooperative, national and multinational banks transactions under RBI monitoring with high volume alert notification it will be helpful to monitor funds siphoning to foreign banks. Apart from this maintain online cash book, ledger plus work book for the same use.

Charge minimum taxes on properties transactions which may extract black money in the open market.

Withdraw and minimizes subsidy with the purpose to reduce tax and excises on, patrol, diesel, CNG and LPG automobile, communitarians, medicine, consumables Items etc more important control government expenditure which will be helpful to control inflation and improve country GDP.

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