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.
Re: Extract money from corrupted officials....
by Krishna on Feb 23, 2010 10:19 AM Permalink
Also, 5) Reduce allocation to defence. Ensure more defence money is spent on internal security and intelligence gathering rather than buying new toys for the military. 6) Encourage entreprenaurship. 7) Encourage public transportation and penalize wastage of fossil fuel.
