Black Money in India
A simple solution will be to demonetize existing currency effective from a fixed date and introduce a new set of currency notes printed notes preferably on plasticised paper; permitting exchange of old currency notes to the extent of accounted for money in the books of accounts of individuals, HUFs, firms, companies, cooperative societies, NGO's, Institutions, Registered bodies, political parties and all other entities. Individuals, not filing Income Tax returns like farmers, labourers, small vendors, work men, etc. may be allowed to exchange their actual cash holding to the extent of their one month's earning. This will eliminate all black money lying all around the country in one go. I have suggested this to all including the PM, FM, BJP and other eminent bodies but every one shies away. No body is serious to tackle this cancer. more
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We fully agree with the idea of Mr. D.K.Jain demonetize existing currency effective from a fixed date and introduce a new set of currency notes printed notes preferably on plasticised paper. Another action required is Indian govt. should make it a mandatory for each and every citizen of India to have a bank account so that all transections should be through Bank. Govt. should also take necessary action to improve the level of quality of education at school level as a character building exercise. In case the corruption remain in the blood of people, it is very difficult to eliminate black money . more
Aug 21
Jain Sir - you should conduct this discussion in Transform India circle. They may not take the inputs from here. more
Aug 20
what's about black money invested in real estate and gold. major part of black money is invested in real estate etc. this also need proper investigation in last 10 years transactions of real estate. these properties must be seized and be allotted to the needy persons. more
Aug 20
Good suggestion. Difficult to implement but not impossible. Mr Modi as Prime Minister need guts to implement it and he can take the challenge to do it. If he can take bold decision to clean 2250 Kms of Ganga river and cancel talks with Pakistan, I am sure he can do it provided people with self interest from his own NDA / BJP allow him to do so. more
Aug 19
