serves several purposes. Swiss banks have started providing information to US authorities of American citizens who hold accounts with them. The government should now also play an important role towards development and new strategies so that the inflation rate is curbed and the private economy need not suffer. We never realise its consequences.
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All are illegal only Proposals to prevent Indian black money Even in colonial India, character analysis essay of macbeth numerous committees and efforts were initiated to identify and stop underground economy and black money with the goal of increasing the tax collection by the British Crown government. This physical money, in huge amounts, is being transferred from one hand to the other eluding all tax nets in transactions of commodities or goods and transforming into black money. The black-money has now assumed vast dimensions and menacing proportions. Supportive measure: Along with deterrence, the report2 suggests public awareness initiatives must be launched. La a bid to mop up black-money, the Government announced on 12th January, 1981 a new scheme of issuing a ten-year bond of the face value. Several other series of such bonds have been released in recent years. If action is not taken very fast, this booming Black Money Demon will eat away the nations economy and will cripple the health of this great nation forever! Money laundering can result in reducing the publics confidence in certain professions such as lawyers, accountants and notaries and economic sectors such as real estate, hospitality and banks and other financial institutions.
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