Unearthing Black Money
Black Money is that money, (as per common moans understanding which is not deposited in the bank and is held as cash by the beneficiary for the fear of
The Menace of black money is a social evil having great potential for spoiling the socio economic fabric of the society at any place or any point of time. Presence of black money smelled by anti social element, activates them to crimes, creating a danger (of life) for the holder of such black money also.
In this connection I have a suggestion to offer and it is as follows:
On the currency notes of denomination of rs. 100 and above, we may print an Expiry date and public should exchange these notes before expiry through an account in Nationalized Bank.
As the word 'Currency' suggests, these notes are for urgent transactional use and therefore an expiry date will not be illogically out of place or context implementation of this suggestion.
- Attracting enquiry regarding mode of acquisition or source and its explanation.
- Attracting Tax on the income/Earnings.
- Attracting attention of evil eyes.
The currency therefore, - Changes hands in equally corrupt deeds, unsocial deeds and in the dealings of real estates which are undervalued for the fear of wealth tax etc.
- Goes in an unreasonable manner expenditure due to the background of secrecy with a probability that man engaged in such deeds may also get cheated.
- Goes without record and therefore there is no atonement in case of cheating
Is used very extravagantly giving rise to inflation. - Goes into credit of individuals who actually are weak to handle it (use of amount by bullying and scape goat if caught).
The Menace of black money is a social evil having great potential for spoiling the socio economic fabric of the society at any place or any point of time. Presence of black money smelled by anti social element, activates them to crimes, creating a danger (of life) for the holder of such black money also.
In this connection I have a suggestion to offer and it is as follows:
On the currency notes of denomination of rs. 100 and above, we may print an Expiry date and public should exchange these notes before expiry through an account in Nationalized Bank.
As the word 'Currency' suggests, these notes are for urgent transactional use and therefore an expiry date will not be illogically out of place or context implementation of this suggestion.
- Currency will not go dormant. It will be available for transaction and printing load will come down.
- The problem of Soiled notes will almost be eliminated.
- The purpose of unearthing of black money will be served .
- It will make financial & social transactions very transparent and then they will have to be honest, crimes on theft leading to risking life will reduce.
posted by anant | 5:32 AM
1 Comments:
Great suggestion
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