Tuesday, January 28, 2014

Regularizing employment in shops to reduce black money involvement in shop sectors in India.

Regularizing employment in shops to reduce black money involvement in shop sectors in India.

December 2, 2013 at 11:34am


www.assamtimes.org
Observation
  • Current segment of employment in not properly define.
  • Lots of money goes in as  black money due to not proper accountability

Few Good Steps to improve this segment
  • All employee definition should be fixed in shops  may be treated as small scale industry – type – shop
  • PAN Card should be mandatory for all employee irrespective of their income
  • All Employee should get their payment directly in their bank a/c SBI  & other bank Salary a/c can help in this area..May be any kind of charges have to remove from these a/c like atm charge , sms charge etc.
  • All People should get Identity Card May be government post office can help in this subject.
  • Temp card is OK but permanent card should be like ATM .
  • Shop holder has to mention Pan/ Tin Number in all bills and should be bar coded to ensure tractability so that no manipulation is possible.
Benefit
  • Tractability of  transaction done by shop keeper
  • This segment employee will get respective accountability & identification may contribute in nation economy.
  • Black Money involvement reduces.
  • Government have data bank segment wise
  • This sector will regularize.
  • Direct Pan Card linking will give great control.
  • Insurance sector also get new base.

Government Initiative:
1. Pradhan Mantri Jan Dhan Yojana (PMJDY)- Pradhan Mantri Jan Dhan Yojana (PMJDY), which aims to provide every household with a bank account and insurance cover. "60,000 camps, Under PMJDY, each accountholder will get a RuPay debit card with accident insurance cover of Rs1 lakh. In the second phase, these account-holders will also get life insurance cover and pension products. Further, overdraft of Rs5,000 will be provided to each account holder after satisfactory operation in the account for six months.
http://economictimes.indiatimes.com/news/economy/policy/government-to-boost-financial-inclusion-through-pradhan-mantri-jan-dhan-yojana/articleshow/40964375.cms

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