Time to annihilate corruption.
This step is a much needed and welcome step. Demonetization must be done correctly along with other steps. You cannot catch a thief with thread, you need web to catch.
- There should be no amnesty to black money creators and holders. Any such amnesty / pardon is unjust to honest people. Such people with black money are not afraid as they know at the most they will give up some amount and enjoy rest. Their entire money should be confiscated and they should be in jail.
- Strengthen institutions. Free and strong CBI Lokpal CVC CAG Election Commission Police and Judiciary.
- All political parties must get entities registered with all government departments under the head of Political Organization. They must keep all accounts and disclose all funds to all government departments as well as online. All such political parties must be under RTI as well.
- There must be fast track courts for corruption related cases.
- At the end of the scheme all black money hoarders including such politicians, bureaucrats, corporate must be disclosed to public. Nation deserve to know who are these people who damage nation.
- Black money is a big task and must involve simultaneous action on its various aspects. Otherwise people tend to find out hidden ways to escape.
- Rs 500 and higher denomination notes must have been scrapped all together. This would have promoted plastic money, app based transfer and account transfer. That would have increased tracking. Keeping 500 and higher denominations alive will lead to same thing again. Rs 100 should be the highest denomination for small purchases.
- Most of the black money is out of nation in bank also as assets. This must be recovered. All such people must be black listed for ever.
- Most internal black money is not in bundles of currency notes; it is in form of gold, property, foreign currency, stock market etc. They must be tracked properly with PAN and Aadhar Card linked. Every jeweler must declare quantity he holds and all transactions. Every bank locker, every property must be PAN and Aadhar linked and must be put online. Foreign currency dealers must be tracked and all transactions must be investigated.
- Agents and hawala dealers must be identified and arrested. Black money going out by hawala must be checked.
- Black money coming back as FDI must be identified, investigated and such people arrested.
- There should be watch on money exchange agents, sham companies and bank accounts not linked to PAN or Aadhar.
- Government or banks must issue digitally verified prepaid money cards which people should be able to buy from any bank or other authorized place by showing Aadhar Card or linking to bank account. These prepaid could be used at any place just like currency.
This step is a much needed and welcome step. Demonetization must be done correctly along with other steps. You cannot catch a thief with thread, you need web to catch.
- There should be no amnesty to black money creators and holders. Any such amnesty / pardon is unjust to honest people. Such people with black money are not afraid as they know at the most they will give up some amount and enjoy rest. Their entire money should be confiscated and they should be in jail.
- Strengthen institutions. Free and strong CBI Lokpal CVC CAG Election Commission Police and Judiciary.
- All political parties must get entities registered with all government departments under the head of Political Organization. They must keep all accounts and disclose all funds to all government departments as well as online. All such political parties must be under RTI as well.
- There must be fast track courts for corruption related cases.
- At the end of the scheme all black money hoarders including such politicians, bureaucrats, corporate must be disclosed to public. Nation deserve to know who are these people who damage nation.
- Black money is a big task and must involve simultaneous action on its various aspects. Otherwise people tend to find out hidden ways to escape.
- Rs 500 and higher denomination notes must have been scrapped all together. This would have promoted plastic money, app based transfer and account transfer. That would have increased tracking. Keeping 500 and higher denominations alive will lead to same thing again. Rs 100 should be the highest denomination for small purchases.
- Most of the black money is out of nation in bank also as assets. This must be recovered. All such people must be black listed for ever.
- Most internal black money is not in bundles of currency notes; it is in form of gold, property, foreign currency, stock market etc. They must be tracked properly with PAN and Aadhar Card linked. Every jeweler must declare quantity he holds and all transactions. Every bank locker, every property must be PAN and Aadhar linked and must be put online. Foreign currency dealers must be tracked and all transactions must be investigated.
- Agents and hawala dealers must be identified and arrested. Black money going out by hawala must be checked.
- Black money coming back as FDI must be identified, investigated and such people arrested.
- There should be watch on money exchange agents, sham companies and bank accounts not linked to PAN or Aadhar.
- Government or banks must issue digitally verified prepaid money cards which people should be able to buy from any bank or other authorized place by showing Aadhar Card or linking to bank account. These prepaid could be used at any place just like currency.
Nation and people have suffered a lot at the hands of such corrupt people. They must be exposed and severely punished so that no one dares in future.
