My dear friends,

How about some thoughts about improving our nation's economy and self cum social commitments to control, eradicate all black money transactions, corruption free deals, transparent accountability as well as radical reforms.

I personally feel that the best way to arrest & control corruptions; misuse of funds & pilferage of funds by those greedy is possible when we adopt the E-transactions right from individual to government.

This can help to track all transactions, inventory and record.

Like a database to refer at any time for follow-ups as well as proper accountability.

The Latest methods which can be implemented to curb all malpractices is only by e-transactions, be it a Government tender or any business deals.

Let it be on all deals right from real estates to any transactions, we can bring in all citizens under check & our revenues to Government coffers will fill to clear our loans from World Bank and all liablities can be wiped out.

The respondent and receiver are accountable by the e-transactions and the payments by E-Payment makes room for curbing black money as well as all transactions in to black and white transparent records.

It can minimize time, labour, middle man transactions, corruption free and white money transactions.

When every department in both central and state, as well as public limited companies and private trade opts for open tenders and e-payments, the whole transactions are being monitored as well as falsified records can be prevented, there by the earnings of taxes to the government increases. 

Time and courier charges saved, implementations of RTI act are possible, E-Procurements prevent malpractices, scandals, and all stock verifications at any stages are possible.

Once the systems are made to implement strictly, whole economy can be monitored and the revenue for the government increases.

Right from manufacturing stages to marketing outlets, whole transactions can come under tax net as well as black money transactions can be curbed.

Same thing applicable to all institutions right from educational, tourism, travel, hospital and healthcare, consumer durables, register offices, real estate and all sectors, which can bring all under the tax net to regulate the fair trade practices.

When our Government was able to collect so many crores of rupees by service taxes in almost all transactions which involves right from contracts, service oriented categories, it is possible to earn more revenue by fixing a nominal tax slab for all & ensure that every transactions are to be covered with relevant bills, challans, and well recorded fool proof e-transactional methods.

Even Agro sector can be taxed with a minimum slab so that all are accountable.

It will definitely have an impact on our economy and we can be assured of our assets as legitimate earnings by not bothering about further harassment by taxing authorities.

This way of E-accountability may send shock waves to many of our political leaders as well as industrialists & traders, individuals.

This can arrest the undervalued transactions as well as real estate dealings apart from other deals.

Even the commissions paid to any one are to be only by e-payment, so that both the receipt ant and the responder are covered, there by black money transactions can be eliminated.

All these can be possible only when necessary amendments in Law being drafted and implemented…

Our fear is that many of our opportunist politicians who are going to raise a strong objection for such radical reforms and those black marketers will shed crocodile tears.

Will it happen in our country?

Subbu