Benami property: Here is the big weapon in crackdown against wrongdoers......!!!

Prime Minister Narendra Modi on Thursday said that the UID number is helping to bring an "irreversible change".

Blasting skeptics of Aadhaar Card and the usages it is being put to, Prime Minister Narendra Modi on Thursday said that the UID number is helping to bring an “irreversible change”. Prime Minister said that in a fight against benami property, the Unique Identification Number will work as a “big weapon”. “It is going to be a big weapon (to fight against benami properties),” he said. Modi also said that Aadhaar has a played a “big role” in ensuring that ration at proper rates, scholarships, pension and government subsidies reached the poor. Modi also referred to demonetisation and note ban. He said that these two factors had brought about a “behavioural change” in the country. Corrupt people, for the first time after Independence, were scared of making illicit money, he said.

While speaking at the inaugural session of the HTLS, the Prime Minister said, “Linking Aadhaar with mobile and Jan Dhan accounts have evolved such a system which was not even thought of till some years ago — a system which is irreversible,” Modi said. “Earlier, pension money was distributed in crores of fake accounts. All that has been addressed with the help of Aadhaar in the last three years,” he said.

“The day the country will have a technical and digital address for all monetary transactions, organised corruption will be checked to a great extent,” he said. Black money coming into the banking system had also brought along with it massive data, a “treasure trove” that would enable the government take action against wrong-doers, he said, adding that ill-gotten wealth earlier funding a parallel economy was now a part of the formal economy.

Recently, Union Housing Minister Hardeep Singh Puri had reportedly said that property transactions would be linked to Aadhaar to eliminate black money from the real estate sector and help in addressing the issue of benami property.

http://www.financialexpress.com/india-news/benami-property-here-is-the-big-weapon-in-crackdown-against-wrongdoers/954727/