Time for Modi & Team for Bold Reforms: Dr JP

Loksatta founder Dr Jayaprakash Narayan said that the Panama papers gave the best opportunity for India to curb black money.

“This is the best chance. Global climate is helpful. But we need systemic reforms to curb more outflows. India is losing $b70 a year, more than Rs1000cr a day” Dr JP said in a statement today. He explained the four drivers of black money and the much needed practical reforms.

Four drivers of black money and solutions:

1. Vote buying: Go for Direct election of CM.

2. Tax corruption: Forcibly retire 100 most corrupt officials

3. General corruption: Have strong Lokpal , Lokayuktas & local ombudsmen with real power.

4. Real estate: Reduce stamp duty & cap gains.

“Narendra Modi and team have integrity, real power and passion. Now is the time for them for bold reforms” said Dr JP. He greeted the Telugu speaking people all over the world on the occasion of Ugadi (Telugu New Year) and appealed to join the cause of reforms with true National spirit.