how to stop the accumelation of black money

Since last fifity years or so ... a section of people is asking the Govt. to tackle the problem of Black Money. But the Govt. is not sincere enough.

Meanwhile, in two seperate occassions, Govt allowed owners of black money to white wash their black money by "disclosures". But .. that was not sufficient for the owners. They partially surrendered. Actually they are the selfish people and dont care for the welbeing of country.

Another aspect : Once black always black. The owners of black money tends to create more such money and other similar people join them  makeing the system never ending.

The holders of black money seldom keep such fund with a Bank. They manage their 'own Banking system', routes these fund from place to places, people to people by means of their own ( hundi or hawala .. ?), even use these for all un-ethical purposes. 

 It is widely believed that from generation to generation some traders used to keep two accounting books, one for the I.Tax people. Previously they used to take 'help' of Chartered Accountants to guide them and in present-day senerio more than one CAs are available in their own family .. !!

Such money is the 'darling' for some political parties. They take (black) donations from the owners to run their party and election campaigns. It was proposed that the Election Commission ( and its law ) permit political parties to take donations from Cos. officially and transparently. But some major political parties did not vouch the idea - till pending for consideration. The Tatas have formed a Trust for this purpose but " no takers ".

Now we know why black money is not unearthed.

------------ Generation of black money by Public Sector : Unfounded. Some act by some individuals may not mean Public Sector .. !! Even their budget for Advertisemtnts, Gifts, Donations  are regulated and strictly controlled and requires reporting. These are even discussed in the Parliament. In a mixed economy, as of now, bulk of expenses are done by Public Sectors and used for nation building. That may not be stooped. If FCI do not procure food articles, make a buffer stock, may be the  major part of our population have to starve.

-------------------- Cotntrols and licencing system : Since abolished. After prolonged demand by State Governments, the-then FM, Dr. Monmohan Singh abolised "Licence Raj" under the leadership of Narashinga Rao, PM.  ( we remember late Mr Rao ... that was the begining of to-days "Open Economy")

...... In-effective Tax Laws :  Yes. The drive for un-earthing black money is a BIG job encompassing whole of India and even outside like Swizerland Banks etc. Only directions from top Bourocrats, Political managers in Govt etc. may do this. Explained why that is not happening.