Why this is important
Dear Friends, India is drowning in Black money and corruption. We need to save INDIA and our next generation. We have the resources and we have the potential. Human resources are the best in the world, weather is optimal, rich in natural resources, naturally beautiful- truly GOD’S OWN COUNTRY- All our wealth is now dumped as dead investments in GOLD, REAL ESTATE, HUGE HOUSES and in foreign banks. The total worth of gold in India is estimated at 75 lakh crores of Indian Rupees (1250000 million dollars). In spite of not being a gold producing country, one fifth of the world’s total gold possession is in India. Mostly it is the black money that goes into investments in gold, land and huge houses. India is rich but Indians are not rich is the situation that we face. 2% is holding 80% of our wealth, all because of corruption; corruption stems from money- mindedness instilled into our psyche by the lack of social security. We forget the fact that wealth accumulated by any individual will not last for more than two generations. The huge wealth in India is unavailable for providing social security and human development. Apparent lack of resources is the result of all these and lack of resources is the reason for ignoring social security, human development and social health for all. Healthy individuals in a society anywhere is a manifestation of social security and human development. We ignore social health- ( we do not provide balanced diet for all, there is no proper waste management , no safe drinking water for all, we do not promote good lifestyle habits in everyone and do not provide facilities for doing exercise like play grounds, parks,foot paths and cycle paths for all etc); but we concentrate on building hospitals and medical colleges. Because of the absence of these basic facilities only diseases are multiplying disproportionate to population growth. Counterfeit notes printed in other countries circulate freely only because we allow cash transaction more often rather than insisting on the use of transparent methods like debit cards. Counterfeit notes cannot be circulated if we stop liquid currency transactions. Similarly if large transactions in liquid currency are banned, all corruption within the country will stop at once. This is because no one will accept bribe as cheque or draft or through bank- With ban on cash transactions counterfeit notes and Hawala dealers will disappear, Black money will disappear, people will stop making huge houses using black money, they will stop investing in gold and real estate. Naturally we will get enough resources for providing basic amenities like safe drinking water& balanced diet for all and for proper waste management which will reduce the disease burden; then we can focus on human development and to provide social security. With cashless society no one will dare to be corrupt and no one would accumulate black money in any form. The most important practical solution to stop corruption in India now lies in making our country a cashless society at the earliest with determination - as had already happened in developed countries. We need to set ceiling on gold possession, ceiling on possession of unused land, size of house etc and ceiling on cash possession with individuals and large cash transactions more than a certain amount by individuals should be punishable. Institutions and business houses should be insisted on to accept debit cards and those not accepting debit card and accepting cash only should be punished. Whatever they collect in cash should be deposited only in banks the very next day at least. Those who love India should join to save our nation from corruption.
Dr. PK Sasidharan
To be delivered to:
Planning commission, Next PM, Finance Minister, IncomTax Dept, Reserve Bank
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1. Tax structure in our country whether it motivates or discourage creation of black money
2. How much government helpful to provide social securities in term of free medical to needy
3. How our system support to unemployment in youth
4.How our system support the tax payer who lost job subsequently and has no income. This is serious problem in era of globalization and legalization .
5.How much money needed to educate our children
6. What is the end use of tax payer money
7.Whether there is effective use of money planned to social scheme allocated in budget.
8.whether all transactions are covered under legitimate banking channels.
9.whether existence of transparency in all the transactions.
After analysis of our answers we should plan our policies according to curb corruption and black money. more