I am an Indian citizen (Telangana state) awaiting to see the India as a developed country. In my view development means, not just increasing of multi storied buildings, roads, high ways and Infrastructure etc., In fact development means, Increase of Humanities. Maintaining Equality in social , Economical and legal. Utilizing human and natural resources, keep the environment in safe, improving education, health, able to provide water by joining all water resources, providing un interrupted power, able to provide clothes and shelter to all the people and able to increase morally earning capacity to all the people, make the people economically balance and finally keeping all the people happy & maintaining peace with their own culture and traditions etc, is a real development and real growth of G.D.P. Filling of corrupted money in Indian & International banks lockers, increase of Benami Assets, Block money investments in Lands,Dollars, Gold & Silver and other ornaments, attracting F.D.I's and increasing of fake TRUST(s) etc., is not at all development.
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Control of black money through compulsory asset declaration, identity linkage and prioritised enforcement to increase traceability.
Proposes mandatory public declaration and taxation of all registered, unregistered and benami assets; linkage of fixed and current assets to identity credentials and a single mobile number; a nationwide land and property survey with a time-limited registration window; substantial taxation of undeclared gold and ornaments; limitation to one bank account and one mobile number for each person; and prioritised, high-level enforcement focused on wealthy and influential offenders, with tax revenues redirected to human development and mechanisms for public feedback. (AI Summary)
Other Topics
Provident fund transparency: simplify Aadhaar linked claims and ensure faster, accountable EPF settlements and disclosures.
The article calls for comprehensive EPFO reforms to remedy opaque account management, long claim delays, excessive documentary demands and growing unclaimed contributions. It diagnoses causes including poor employer recordkeeping, fictitious enrolments and member unawareness, and proposes operational and governance measures: single application Aadhar linked online settlements, full transparency of deposits and interest, balance checking kiosks, front office training, field verification of employee data, accountability for delays, an independent redress mechanism, and targeted adjustments to pension and interest practices to improve member outcomes. (AI Summary)
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Income tax exemption limit increase would relieve low income taxpayers and refocus enforcement on high income evasion.
Advocates increasing the income tax exemption limit for individuals to relieve low income salaried taxpayers of filing burdens and nuisance notices, simplify compliance, protect purchasing power, and free tax administration to focus enforcement on high income evasion, hidden wealth and complex tax vehicles revealed by recent currency and registration reforms. (AI Summary)
Budget - Tax Proposals
Corruption drivers undermine governance; systemic loopholes and weak recovery mechanisms enable illicit asset accumulation and impunity.
The document attributes corruption and black money to social motives (selfishness, nepotism, poverty, illiteracy), institutional weaknesses (defective education, election and family systems), and systemic opportunities (procurement and policy loopholes, political financing, liberalisation). It highlights enforcement deficiencies: delayed or insufficient punishments, absence of effective money recovery procedures, and lengthy case processes, all of which reduce deterrence and enable accumulation of illicit assets. (AI Summary)
Other Topics
Election reforms: mandatory sworn manifestos and asset disclosure to tighten campaign transparency and funding controls.
Proposes mandatory sworn manifesto affidavits at nomination, enforceable by recall or dissolution if promises are not initiated within a set period; comprehensive asset, family and financial disclosures by candidates with disqualification for serious offences; centralized party funding through a Central Election Fund with prohibition on large cash donations and regulated distribution; caps on campaign expenditure; limits on multiple candidacies and post-election party-switching requiring resignation and cooling-off; eligibility criteria on age, education and term limits; universal Lokpal coverage; mandatory registration, audit and taxation of trusts; and prohibition of foreign-funded religious trusts. (AI Summary)
Other Topics
Universal identity linkage enables mandatory asset registration and detection of benami holdings and undisclosed transactions.
Proposes a framework making issuance and mandatory linkage of Aadhar, PAN, a single bank account, and a single mobile number universal; consolidating official IDs to that identity; mandatory registration of all domestic and foreign assets (movable and immovable, including lockers) with a concessional window; reclamation of unregistered lands; controls on foreign investment and trusts; prohibition of unregulated financial schemes; and using linked data to identify benami holdings, money laundering, and misdirected subsidies for reallocation. (AI Summary)
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Digital-only taxation proposal: centralise transactions through banks to replace multiple levies, subject to phased safeguards.
The document critiques the proposed Ardhakranti digital taxation system that would centralise transactions through banks and replace multiple taxes with a uniform Banking Transaction Tax. It highlights operational requirements-universal bank accounts, identity linkage, demonetisation of high denomination notes, cyber security, deposit insurance, and uninterrupted server availability-and warns of systemic risks from inadequate infrastructure and governance. As alternatives, it urges phased implementation, targeted tax relief to prioritize enforcement against high value evaders, simplified returns, independent investigative bodies, fast track recovery mechanisms, and staged banking expansion before full adoption. (AI Summary)
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Black money recovery through Jan Lokpal: propose voluntary disclosure window, asset seizure thereafter and governance reforms.
The text proposes an empowered autonomous Jan Lokpal integrating investigative wings to recover concealed wealth, a time limited Voluntary Disclosure Regime allowing surrender without penalty or disclosure of names, followed by compulsory seizure and prosecution of undisclosed foreign and benami assets; it also calls for trusts regulation, special fast track courts, treatment of recovered funds as a National Asset for public development, and tax net expansion and simplification to deter future corruption. (AI Summary)
Other Topics
Ban on begging proposals paired with identification, vocational training, shelters and donor accountability to reduce exploitative street begging.
Recommends statutory prohibition of street begging combined with systematic identification and registration of beggars, issuance of identity documentation, counselling, vocational education, concessional finance and marketing support for trained individuals, and government shelters for genuine dependents; also proposes donor funding channels with strict accounting and tax-exempt treatment to support certified shelters. (AI Summary)
Other Topics
Wealth taxation to curb black money and strengthen redistribution, paired with simplified filing and targeted audits.
Proposals focus on curbing corruption and black money by restoring a wealth tax, taxing informal trades and political funds, strengthening audits of trusts and societies, and using recovered funds for development. They call for income tax simplification by raising the basic exemption, consolidating tax slabs, increasing deduction limits, removing multiple exemptions and rebates, instituting a five year targeted administrative plan to prioritize high value evasion investigations, waiving small pending individual demands, and improving institutional capacity and citizen facing government services. (AI Summary)
Budget - Tax Proposals
TaxTMI 
TaxTMI 
18 May 2017 
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