The probe by IT and ED into the black money is welcome and keenly watched by Indian masses as they have a big stake. The money if collected should be fully put into eradication of poverty and Government can take full credit for the black money recovery and its proper use. The modus operandi used to transfer and accummulate black money abroad needs to be studied in detaail and all the loopholes need to be plugged. Checks and balances should be in place to see that such instances do not recur anymore. The Government has to instill the confidence among public that it is back in action and it will not tolerate violation of laws of the land. This has been missing for decades in India and the economy has suffered and has been suffering.
Dr.T.V.Gopalakrishnan
(This appeared in ET E paper dt06/09/ 2011
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