ARE WE REALLY SERIOUS ABOUT BLACK MONEY ?
THE TOUGH LAW THE GOVERNMENT HAS PROPOSED ON BLACK MONEY ABROAD PUTS THE CART BEFORE A
LOT OF HORSEPOWER . THE PENAL PROVISIONS ARE TRULY TOUGH. ALL GOOD CITIZENS LOOKING UP TO THE GOVERNMENT TO STAMP OUT BLACK MONEY WOULD BE DULY IMPRESSED, SO WHAT IF THE ACTUAL GENERATORS OF
BLACK MONEY WOULD NOT QUITE BE QUAKING IN THEIR SHOES_ OR SANDALS THAT MATCH WITH THEIR KHADI GET UP
THIS NEWSPAPER REPORTS THAT THE LAW, IN ITS AUSTERE, UNSPARING SWEEP,COULD SPELL TROUBLE FOR UNWARY
EXPATS WORKING IN INDIA. SO IT COULD FOR ORDINARY INDIANS,TOO.
INDIA HAS BEEN LIBERALISING THE AMOUNT OF FOREIGNERS EXCHANGE THAT RESIDENT INDIANS CAN LEGITIMATELY TAKE OUT SIDE THE COUNTRY. SO THE CHANCES ARE BRIGHT THAT LAW ABIDING INDIANS WHO DO NOT
EMPLOY FANCY CHARTERED ACCOUNTANTS AND EXPAT WORKERS WHO BELIEVE THEY FULLY COMPLY WITH THE LAW
END UP VIOLATORS OF A DRACONIAN LAW,EVEN AS CANNY OPERATORS, WHO MOVE MONEY IN AND OUT OF THE COUNTRY AS THEY LIKE, CONTINUE TO SMILE ALL THE WAY TO THEIR BANK IN SOME TAX HAVEN OR THE OTHER. OUR
LEGISLATORS HAVE PASSED ENOUGH DRACONIAN LAWS TO TACKLE ENOUGH PROBLEMS NOT TO HAVE LEARNT THAT
LAWS DO NOT SOLVE PROBLEMS.BUT THEN WHEN WILL THEY EVER LEARN ?
OUR LEGISLATORS HAVE EVERY INCENTIVE.NOT TO REALLY STAMPS OUT BLACK MONEY .THE ENTIRE INDIAN POLITICAL SYSTEM RUNS ON UNACCOUNTED,MONEY VERY OFTEN, THE PROCEEDS OF CORRUPTION. UNLESS THE POLITICAL SYSTEM IS FIRST CLEARED UP, GENERATION OF BLACK MONEY WILL NEVER CEARSE. FOR THAT, THE ELECTION COMMISSION HAS PROPOSED YET ANOTHER TOUGH LAW, FUTILELY, OF COURSE. WHAT IS NEEDED IS MONTHLY, MANDATORY REPORTING OF TOTAL EXPENDITURE BY EVERY PARTY AT EVERY LEVEL. THIS FIGURE SHOULD
BE OPEN TO CHALLENGE FOR A PERIOD, BY RIVAL PARTIES, WATCHDOG BODIES AND THE MEDIA. THE COMMISSION SHOULD MODERATE THE CONTEST AND FINALISE THE EXPENDITURE. THEN EVERY PARTY SHOULD BE ASKED TO SHOW
THEIR SOURCE OF INCOME TO MEET THAT EXPENDITURE. IF AND WHEN OPEN, TRANSPARENT FUNDING OF POLITICS BECOMES ROUTINE, THEN ALONE WILL THE GROUND BE READY TO STAMP OUT BLACK MONEY. WITHOUT THAT,IT'S JUST
BLACK HUMOUR.
THE TOUGH LAW THE GOVERNMENT HAS PROPOSED ON BLACK MONEY ABROAD PUTS THE CART BEFORE A
LOT OF HORSEPOWER . THE PENAL PROVISIONS ARE TRULY TOUGH. ALL GOOD CITIZENS LOOKING UP TO THE GOVERNMENT TO STAMP OUT BLACK MONEY WOULD BE DULY IMPRESSED, SO WHAT IF THE ACTUAL GENERATORS OF
BLACK MONEY WOULD NOT QUITE BE QUAKING IN THEIR SHOES_ OR SANDALS THAT MATCH WITH THEIR KHADI GET UP
THIS NEWSPAPER REPORTS THAT THE LAW, IN ITS AUSTERE, UNSPARING SWEEP,COULD SPELL TROUBLE FOR UNWARY
EXPATS WORKING IN INDIA. SO IT COULD FOR ORDINARY INDIANS,TOO.
INDIA HAS BEEN LIBERALISING THE AMOUNT OF FOREIGNERS EXCHANGE THAT RESIDENT INDIANS CAN LEGITIMATELY TAKE OUT SIDE THE COUNTRY. SO THE CHANCES ARE BRIGHT THAT LAW ABIDING INDIANS WHO DO NOT
EMPLOY FANCY CHARTERED ACCOUNTANTS AND EXPAT WORKERS WHO BELIEVE THEY FULLY COMPLY WITH THE LAW
END UP VIOLATORS OF A DRACONIAN LAW,EVEN AS CANNY OPERATORS, WHO MOVE MONEY IN AND OUT OF THE COUNTRY AS THEY LIKE, CONTINUE TO SMILE ALL THE WAY TO THEIR BANK IN SOME TAX HAVEN OR THE OTHER. OUR
LEGISLATORS HAVE PASSED ENOUGH DRACONIAN LAWS TO TACKLE ENOUGH PROBLEMS NOT TO HAVE LEARNT THAT
LAWS DO NOT SOLVE PROBLEMS.BUT THEN WHEN WILL THEY EVER LEARN ?
OUR LEGISLATORS HAVE EVERY INCENTIVE.NOT TO REALLY STAMPS OUT BLACK MONEY .THE ENTIRE INDIAN POLITICAL SYSTEM RUNS ON UNACCOUNTED,MONEY VERY OFTEN, THE PROCEEDS OF CORRUPTION. UNLESS THE POLITICAL SYSTEM IS FIRST CLEARED UP, GENERATION OF BLACK MONEY WILL NEVER CEARSE. FOR THAT, THE ELECTION COMMISSION HAS PROPOSED YET ANOTHER TOUGH LAW, FUTILELY, OF COURSE. WHAT IS NEEDED IS MONTHLY, MANDATORY REPORTING OF TOTAL EXPENDITURE BY EVERY PARTY AT EVERY LEVEL. THIS FIGURE SHOULD
BE OPEN TO CHALLENGE FOR A PERIOD, BY RIVAL PARTIES, WATCHDOG BODIES AND THE MEDIA. THE COMMISSION SHOULD MODERATE THE CONTEST AND FINALISE THE EXPENDITURE. THEN EVERY PARTY SHOULD BE ASKED TO SHOW
THEIR SOURCE OF INCOME TO MEET THAT EXPENDITURE. IF AND WHEN OPEN, TRANSPARENT FUNDING OF POLITICS BECOMES ROUTINE, THEN ALONE WILL THE GROUND BE READY TO STAMP OUT BLACK MONEY. WITHOUT THAT,IT'S JUST
BLACK HUMOUR.
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