New government is taking some steps that can change the viewpoint
of the country. This government is really very positive about making some
changes in the real estate sector. SIT is established by the government under
the justice MB Shah gets unbelievable success in tracking Indian black money
kept away in tax havens, it cannot be acknowledged easily, how much of it
proceeds of the crime or if the capital is hidden in the secret accounts
overseas just because its owners do not want to pay taxes in the nation.
It would be a great challenge to figure out what the part of
the black money is generated from criminal activities like arms transactions,
policy influences, drug smuggling, which have serious consequences for national
security, elsewhere just financial integrity. However, there is one upsetting statistics
that could provide a wonderful idea of the growing proportion of capital
generated through such criminal events.
Over
fifty percent of the cases under prevention of capital laundering act ever
since it was notified on July 1, 2005 were registered in the last one year.
Under the act that deals with the proceeds of criminal events, the first belief
could be in the high profile disgrace encompassing earlier Jharkhand chief minister
Madhu Koda and his partners, who conned out the hundreds of crores. And the
second major belief could be in the 2G band provision scandal.
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