And the day it happens, it is going to knock the bulbs out of many crooks and scavenging individuals. Well, reports say groundwork is currently on to come up with a proposal to flush out the black money in India. Here are the details -
The government must look at banning 500, 1000 rupee notes. That way, the black money will come out as those who hold black money hold denominations in that notes.
A span of 10 days time would be given nationwide and public will be advised to go to the nearest bank and get their currency changed. That way, only those who hold currency physically will have to go to the bank and get that changed.
The bank should get instructions that anyone coming with more than Rs 5 lakh make them sit aside taking all details right from PAN to address proof.
Then, the IT officials will come and investigate the source of that money. If they don’t change then they will have to trash it once the deadline is over.
This is a rather heart shocking move and it is not that the ministers don’t know about it. But then, doing this at this point of time will not add any value to the government or their image. Right now, the image of congress is bad and corruption has taken over the entire system.
So, the chances are that the government would be doing this at election time ie just before the 2014 polls. This will give a clean image to them and eventually, they may announce and add that they will come up with more plans to weed out the black money and other corruption tactics.
This proposal will surely appeal to the intellectuals and common man and they would give votes to Congress again. Incidentally, this rate of black money has never been seen before and the extent of scams and corruption has brought nothing but shame to the country. Hence Anna Hazare could attract the attention of entire India.
So, let us wish our government introduces this age old formula of banning Rs 1000 and Rs 500 notes to extract black money. That may certainly suffice the National budget for 2-3 years.
