It has to be really appreciated that law maker is seeking the transparency lessons from an ex-bureaucrat of immense credibility. Transparency shall not be in Railways alone it has to be all over. Where else you can launder and save the ill gotten money overnight other than in India? If there is something like diligence and integrity corruption can be brought down substantially. In the past it might have been a dream, but now with advent of technology it can be done with ease. The Government employees who wield the power should be disciplined first. Their financial transactions must be routed through the Government. They must be made to furnish the assets possessed at the time of joining service. Further, the yearly returns should contain the total earnings; money spent and money saved for each month, assets acquired and disposed (with proof) as also the net assets at the end of every year instead of the income tax returns of today. The income tax returns should be corrected as Asset Returns. The acquisition as well as disposal of property by the government employees must be with due permission and entered in his service records with details and connected to the unique ID of the employee, PAN as well as Adhar Number of the individual so that no transaction goes unnoticed. If unique ID is not there it has to be created by every Government for its employees. The government should at the same time ensure their genuine necessities of the employees like proper housing, education of the children and medical facilities through proper schemes. Every property should be identified and listed with an identity. No property transaction without connecting the ids of property and person acquiring it. Those who acquire property in foreign or invest in foreign countries should be specially watched. The paper currency should be limited to denominations of Rs.50/- (Rs.fifty) and below. Every transaction Rs.50000.00 and above must be compulsorily be routed through banks or financial institutions. Existing higher denominations should be withdrawn so that those stored in gunny bags in the cellars of the money merchants become invalid unless it was accessed through proper means and taxes paid. Hawala money will be a thing of past. Unlike the dollar and many of the foreign currencies, the Indian rupee can easily printed without much difficulty even though a lot is spent on printing in foreign countries on imported paper. Our good neighbor, Pakistan is doing an over time job in assisting us and pumping huge amount of fake currency to India for promoting subversive activities. So the withdrawal of higher denomination currency will be a big relief to the Government of India. Not only that there will be an increase of tax revenue by many folds and Pakistan will be left with no option but to weep. There should be a laid down limit for keeping paper money with individuals which must be the need based on the immediate requirements/necessities. Similar to people every property must be identified and listed and provided with an ID; No transaction of the property should be out of the book. No hidden agenda i.e. no transactions or deal other than connecting PAN, Unique ID or Adhar with the acquisition of property. There cannot be ‘binamis’ since everyone is identified and the source is identified. While there is no need of restricting the quantum of gold, jewellery or treasure or anything worth money that can be saved, it must be listed and declared by the individual and connected to PAN, unique ID, Adhar etc. Any transaction of this treasure should be overt as in the case of other transactions. The punishment for corruption should be enhanced to the maximum and ruthlessly imposed. It must become a disqualification for further employment and certain privileges of the citizens should be withdrawn for some time for the corrupt. When the black money cannot either be spent or saved it becomes most abominable and unwanted, in turn it becomes a deterrent against corruption. It will weed out the irresponsible and reckless spending and immorality will slowly disappear. Theft will be reduced as the stolen material cannot be disposed with ease. Discipline will creep in as there is no easy money around. Morality will be redefined and integrity, rather than honesty will be the forte. This nation will become the paradise on earth. Are you ready?
Posted on: Sat, 27 Dec 2014 13:36:00 +0000
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