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.
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.
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