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Demonetise Rs 500, Rs 1000 notes to combat black money, says aam aadmi

New Delhi, Aug 16: The common man wants the government to demonetise high denomination currency notes like Rs 1,000 and Rs 500 to effectively combat the menace of black money in the country, a Finance

PTI Updated on: August 31, 2012 11:24 IST

The public also wanted the government to bring a “voluntary disclosure scheme with or without penalty and then strictly enforce economic laws.”

The report was submitted to the office of the Finance Minister in March this year.

The public, according to the report, also wants that black money should be declared as a national asset and illicit wealth be confiscated, more stringent laws and punishments, including life-term for those indulging in corruption, black money stashed abroad should be brought back and special courts speedily try cases of corruption and economic offences.

The other public suggestions that the CBDT chairman panel received include expanding banking operations and use of modern net-driven and mobile technology in monetary transactions, more transparency in government functioning, particularly in tendering, award of contracts, payments, and delivery of services, reduction in taxes, such as stamp duty, capital gains tax and simplify procedures.

“The public also wants the government to bring a strong Lokpal Bill to monitor and punish political corruption, dismissal of public servants found to indulge in corruption, debar corrupt politicians from contesting elections,” the report said.
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