Skip to main content

BLACK Money

Do you know how much of black money is there in India? I am sure, we all know it must be very huge money, It is around 2 Lakh Core Rupees!!!!
Now next big question will be how to get back them, I mean how to make them white, can we really do it.
One option can be by asking the people to return all the black money to government & get no punishment/penalty. This scheme can get around 5% of black money to be converted to white. Even if you try to do raids, searching, freezing bank accounts might lead to another 5%. To get back rest 90 percent, it is very difficult because, corrupt people are not going to bend for these simple steps. So what could be other best option? Can we to do a tit for tat for these corrupt people. Yes it is possible.

People keep most of the black money in denominations 500/- and 1000/- in their houses, lockers & other places. So RBI can freeze all 500 & 1000 denomination notes. And allow the exchange of notes to only those people who can give income tax details for the money kept with them. By doing this we can, freeze all black money with people. US President Nixon had freezed all 100 dollar bills in 1969 to overcome the mafia problem in USA.

But most of the Indian corrupt politicians; bureaucrats are keeping all their money in overseas bank like Swiss banks, Middle East banks and other safe countries.
How can you get back all those money back, solution to this will be very critical, I will leave it to my blog readers imagination. Do suggest me some options if you have any.

Comments

Popular posts from this blog

Happy New Year

I wish all my blog readers a very Happy New Year, Let the year 2007 bring in all the success and happiness to you all. This year I felt the New Year celebration in Bangalore was more colorful and I could see more people on streets compared to last year. I received many SMS, with messages saying that the network will be jammed on 31st December. But in fact our service providers were all set for more traffic for 31st December. They could manage it. I guess Airtel, BSNL, HTUCH, Spice, Reliance, TATA & other mobile/Telephone service providers made good money on this New Year occasion. It is estimated around 1 Billion rupees!!!. This reminds me the Hutchison-Essar deal; it is estimated to be around 17 to 18 billion dollars. So if you make right calculations, 10 such New Year occasions will make the company go past break even and make more profits.

India needs Revolution.

Have you ever renovated your house while staying in it. Believe me it is a mess. In early 90s, my father was did a small renovation of our house and we stayed in the house while extending a part of kitchen, bathroom and dining hall. I was not comfortable during those 30 days of renovation. There was no privacy coz, workers were every where doing the job. The entire place was full of dust. The small tiny particles of sand and cement were there in all the places. My mom used to clean the house all day long to keep it clean. Once the renovation completed, there was sense of relief and I particularly was happy because of no dust. I am telling you this story because this exactly fits the current Indian system. Be it the Nair Radia tapes, Telecom Scandal, common wealth scandal,political parties, etc. By seeing India from a distance, as i am currently outside India, i feel India is still in process of renovation, there is corruption every where. Everybody know all political parties and bure...

Nostalgic about food.

Have you ever experienced in your life a certain addiction to a particular food with particular flavor and taste.No matter you eat that food any where in the world you will never ever get satisfied and you constantly miss that taste.And sometime you regret that you could not eat as often as you could, simply because we could not afford it. It was way back in late eighties when i used to live in beautiful Bangalore. Unlike today Bangalore was so peace full and a calm place my brother and me used to ride a bicycle and go to a mobile shop(i.e a small shop on wheels) and eat "Masala poori" and "Pani poori" which used to cost us just Rs 1.50 a plate, together we both would spend utmost 6 rupees. we used to go some where around 7:30 and 8 PM in the night relish the great stuff.  I agree it was not the most hygienic food. After seeing the way food is prepared and eaten across the world i don...