If I were the Finance minister I would 1) set stiff targets for the IT officers to sniffout corrupt officials/businessmen. Nail these guys and confisicate their money. This money will be used for bridging the deficit. 2) Make the IT returns submission very very simple. 3) Remove Rs 1000 & Rs 500 notes from circulation completely and incentivize electronic transactions. This will reduce black money and increase transparency. 4) Increase focus on small and mid-sized towns where people have not even heard of Income Taxes.
