By : M.S.Yatnatti: Editor and Video Journalist Bangalore : BJP did nothing about Black money. Kaladhan Mukt Bharat and corruption Mukt Bharat and unemployment Mukt Bharat is need of hour .Congress Mukt Bharat? Wrong statement and BJP should stop arrogance .Indian Democracy need both ruling party and opposition party as per constitution. Indian Democracy is technical Majority and not peoples Majority and need to end after the results: Then Elected peoples representative should work for all citizens whether they have voted for him or not. Few get votes and few get seats: All political parties need to understand basics of Indian Politics. It is pertinent to note that majority voters are with opposition parties. Few get votes and few gets seats .Some timeBJP got seats to form the centralgovernment by securing 34 percent vote and 66 percent votes were secured by opposition parties but they failed to get the seats .It is only technical majority and not the peoples majority .First the opposition parties must thank their voters. Both the ruling party and opposition parties have to fulfill their duties as per constitution of India towards welfare of the people.
Kaladhan Mukt Bharat and corruption Mukt Bharat and unemployment Mukt Bharat is need of hour . Kala Dhan: take birth and grow in India corruption is one of the reason for creation of Indian black money.Total computerization and ERP adoption and online government is first step towards making a Corruption-Free Government and Governance .Reportedly Kala Dhan is created by the people who do not pay tax for their earnings and eventually it take birth in India and grow in India . So question of bringing it from outside does not arise and it is alleged that balk money exists in all part of the world. .In India, Black money refers to funds earned on the black market, on which income and other taxes have not been paid. The total amount of black money created in corruption deals is unlimited and quantum is unknown. Effective and credible deterrence is necessary in combination with reforms, transparency, simple processes, elimination of bureaucracy and discretionary regulations. Credible deterrence needs to be cost effective, claims the report. Such deterrence to black money can be achieved by information technology (integration of databases), integration of systems and compliance departments of the Indian government, direct tax administration, adding data mining capabilities, and improving prosecution processes. Time is ripe for political parties taking sincere approach on such issues. The irony is that the politicians and their crony capitalists have the bulk of the black money which they liberally use during the elections when the Election Commission and other bodies remain helpless. The elections in the country have down-graded to battle of money-muscle power.
According to reports "The cash assets on which taxes have not been paid is termed BLACK MONEY .Largely it exists in all taxed economies except no tax countries like UAE ".Economy does not recognize color of money but govt does. As long there are taxes, there is scope for BLACK MONEY. It is not possible for taxing countries to do away with BLACK MONEY. However, dilutions are easily possible. Black money and corruption have in every country. So, a model cannot eradicate these problems from the society. If the government become more conscious and people become honest then they can be reduced. Corruption is nothing new in any country and any society.
Every human being is opportunistic in one way or other. If a student gets chance to copy for good marks he will do.Everybody wants quick benefits with less hard-work, that's why when opportunity arises nobody thinks about welfare of others. So the only way to contain it is severe laws and strict enforcement. but then the question arises what if the law-makers are corrupt. That's exactly what happens in poor and least developed countries the most.Corruption may also be existing in developed countries, but it won't be affecting the day-to-day life of millions of people. So that's why corruption is more a topic of behavioral economics. Corruption and black money can be modeled but i don't think some empirical or mathematical model can wipe out these problems from the country until or unless the people+politicians+bureaucrats are fully determined to do so. For me only one unique to eradicate the corruption in the world is firm belief in God and punishment one will get Hereafter for disobeying Our Lord. otherwise there is no model or theory which will guarantee that corruption will be eradicated.
First things first - Black Money already exists in India, and the volume of black money is so high that India has a parallel economy running which does not need a bank, or a capital market to let this money circulate. If additional Black Money comes, some of it will continue to stay in that form only. A part of the black money will sure get converted into White money.I believe you are more interested in knowing the impacts of Black Money in your day to day life. Black Money leads to an increased prices of essential goods. It also gives a boost to real-estate. The demand for Gold & Diamond jewellery kick-in.However, not all is bad with black money, if at all people holding it start spending at the right channels.