The move to clamp down on benami transactions follows a series of measures the government has taken to combat corruption. Modi said measures such as demonetisation and a new goods and services tax had left the corrupt scared and brought black money into the formal economy. “Demonetisation brought in proof of black money… finished parallel economy,” he said. “With biometric identification (Aadhaar) getting linked with property transactions, masking of identity of the owners will not be possible. They voted to change the system; they voted for a system that is permanent, irreversible…a system that is corruption-free, citizen-centric and development-friendly.” Modi said.

Source: Hindustan Times November 30, 2017 13:36 UTC