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My Letter to PM on how to Eradicate Black Money

Ref.: IX 19/G/14                                                                   Dt.     19/09/2014

     Shri.Narendra Modiji,
Hon’ble Prime Minister,
Govt. of India,
No.7, Race Course Road,
New Delhi

Dear Prime Minister,

          At the outset, on the occasion of Dussera, let me wish you a very bright future and an excellent interaction during your visit to USA.
          Let me now come to the subject. Starting from Watchman right upto Chairman everybody will have a single goal of savings. It depends on person to person as to how and to what extent they save. Unfortunately, this tendency of savings has a bad effect on national economy if the savings is not just confined to white money.
          I have a simple solution to overcome this black money.
          Make payment through Debit cards or demand drafts or internet transfer compulsory for all transactions, say in excess of Rs.1,000/-. Debit card to be used should have bio metric system as the pass word so that misuse of a debit card could be totally eliminated. Further, depending upon the income tax returns filed by persons, they may be permitted to possess currency with them and it may be declared that possessing liquid cash in excess of a fixed sum as an offence. It will  ensure that there will be no theft of cash either from a person or from his house / office because no person can carry cash in excess of a particular sum at any point of time.
          My next suggestion is that without giving a prior notice change the design of Rs.1,000 and Rs.500 currency notes and declare that all existing notes will be acceptable only in banks that too when credited to an account. Officers of Income Tax department can take note of all cases where very heavy credits are made.
          Lastly, inheritance of immovable properties of large extent valued in multiple hundred crores be permitted only upon the beneficiary paying at least 25% of its market value to a named fund of the Government.
         
Thanking You,
                                                                                 Yours faithfully,
                                     
                                                                                  ( P.R.Ramesh)

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