Financial Daily from THE HINDU group of publications
Monday, Jul 25, 2005
Financial Daily from THE HINDU group of publications Monday, Jul 25, 2005 |
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Opinion
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Letters Curbing corruption
This refers to the article "Black money in the bank" (Business Line, July 23), which discusses an interesting case about the banking of unaccounted money. But the question is whether the withdrawal tax is the only way to trace black money, curb it or tax it. In this age of advanced technology, there are many other ways to trace black money in banks. The government should be able to curb black money by eradicating corruption, and more stringent taxation policies — widening the tax net, introducing required procedures in the system, removing loopholes in various laws in property transactions and the like and improving the banking system to cover as many transactions as possible. Government should concentrate on policy initiatives instead of hunting on individuals. That will bring in more revenue and curb black money and corruption. A. Jacob Sahayam Thiruvananthapuram
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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