We all have been talking about black money that is being created in India and sent abroad through illegal means. It is no secret that many financial experts do know that a parallel economy is being run by all those involved in this racket including underworld activities. Also, many Indians have the habit of evading taxes due to high tax regime being practised by all the Governments. Those governing our nation are not willing to take any risk of lowering the taxes.
It appears that the BJP-run government has managed to stabilise the economy and somehow seems to have controlled the corruption, as otherwise, the opposition led by Congress would have started debating it in subsequent Parliament sessions. It is evident that BJP has not given them any chance on this front as yet.
I am a common man and I have an immense feeling that if Govt. is really interested to un-earth the black money and control the counterfeit currency rackets, it is high-time they declare the Rs 1000 and 500 notes invalid and ask all those holding these notes to deposit in the banks declaring their PAN.
In the era of Janata Party with massive coalition-led govt. after emergency, Rs 1000 notes were asked to be surrendered and deposited in the Reserve Bank by the then Govt. led by Morarjee Desai. People who were holding black money had to suffer heavily during those days and it helped our economy.
If it has to happen then it should happen now otherwise never. Because, Modi seems to be willing to take risks that nobody could display in present times. I am sure he will get lot of support from the poor and common men.
He is being criticised by Congress for not getting the black money back and putting in the accounts of poor people as promised by him during election campaign. Well, if that promise is difficult to honour then Modi must declare Rs 1000 & 500 notes to be surrendered to counter the massive black money.
