Important Economic Reforms proposed by Adarsh Bharat Andolan (1). Pass an ordinance declaring all unaccounted / illicit wealth stashed in India and abroad as national wealth, conveying to all foreign holders that they are obliged to bring back such money in Indian financial system and subject to thorough investigation by SIT. (2)Adopt Tarapore Committee proposals and scrap the participatory notes scheme. The entire money held by Indian citizens under participatory notes scheme must be declared as black money by the ordinance. (3) Government should withdraw existing taxation system completely. All taxes and duties of Central, State and Local body Government except customs or import duties which functions as International Trade Balancer. (4) Government should withdraw high denomination currency i.e. more than Rs 100 and make legal provision to restrict cash transaction up to 2000 only. Cash transaction up to 2000 should not attract any transaction tax. (5) Every transaction routed thru a bank should attract certain deduction in appropriate percentage as transaction tax. This deduction is to be effected on receiving / credit accounts only. This deducted amount should be credited to different Government levels like Central, State and Local respectively. Transacting Bank should also have its share in this amount as the bank has a key role to perform. adarshbharat.org
Posted on: Mon, 17 Nov 2014 07:19:15 +0000
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