Currency ban brings Gold into focus

Currency ban brings Gold into focus
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Currency ban has created a lot of trouble for the Government departments and babus who take bribes for doing some favors to the customers and who dont clear files without a bribe. While there are no registrations these days, the officials do not know how to take bribes here from the customers who are coming now and then.

Earlier it was money. But with cash crunch, change crunch, they are suggesting different things it is reported. Gold is the favourite alternative for cash.

Currency ban brings Gold into focus

The bribing has been taking other forms in government departments, thanks to the demonetisation. The departments of revenue, municipal administration, commercial taxes, excise, panchayat raj and rural development, medical and health are known to be the most corrupt as a large number of graft complaints are lodged against officials and staff of these departments.

Staff who used to insist on cash prior to demonetisation are now seeking payments mostly in gold, gold bonds and expensive gifts. Some are insisting on property and favours.

Interestingly, none want the new Rs 2,000 notes with widespread rumours of the Centre abolishing them with a view to deal a “double blow” to black money hoarders who are accumulating Rs 2,000 notes.

Currency ban brings Gold into focus

The impact of demonetisation is being clearly felt in these departments with file clearances coming to a halt due to confusion over how to pay and receive “favours”.

The revenue department tops the list of people approaching officials with bribes to get their work done. Huge bribes are offered to officials for registration, favours in land disputes, land conversion and layout approvals.

A realtor who approached an official for land conversion and layout approval after demonetisation said, “Earlier, we used to offer up to Rs 75 lakh in cash but that’s not the case any more. They are accepting less than Rs 5 lakh as cash and the rest in gold, gold bonds, expensive gifts etc.”Registration offices and municipality offices are known for taking bribes. Nothing moves without bribes.

A liquor trader said, “The preferences of officials in parking cash has changed. They used to insist on payment of cash to their family or friends. Now they fear I-T raids and are specialised benamis.”

Currency ban brings Gold into focus

Staff in the commercial taxes department are adopting even more unique methods. They are seeking payment in cash but with a condition in writing that the payee would convert it to into white next year.

Panchayat raj staff are asking contractors, to pay later. With this, the bills of contractors they know well and trust are being cleared. With confusion prevailing regarding how to accept bribes, clearance of files has came down sharply.

There is a rumor that all the properties will also be made accountable by the Government by way of pass books. This is to see that they are made taxable and there would be no benamis for the properties. This message is already creating panic among the benami property holders on Whatsapp. There are details as to how the Government would like to make the property accountable in the near future.

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