In the next two days, India is likely to introduce another major step to curb corruption and free flow of unaccounted cash in the country. After demonetising higher currency notes, the government is likely to address black market deals in property market.
"Next, we will go after something big in my ministry; benami property transfers," said Venkaiah Naidu, minister of information and broadcasting, urban development and poverty alleviation and a senior parliamentary leader of BJP.
"All this is part of the Swachh Bharat Abhiyan," said Naidu, referring to the cleanliness drive introduced by the new government two-and-half years back. "Swacch means cleanliness of body, mind and wealth," Naidu elaborated, while addressing a media briefing on 50 days of demonetisation.
On December 31 night, Prime Minister Narendra Modi is scheduled to address the nation for a major announcement, similar to the fashion when he announced demonetisation of higher currency notes on night of November 8 this year.
"We want to trail every rupee spent and this is the best way forward. This is part of a grand anti-corruption strategy of the government," said Naidu, who was also addressing media with the brief to publicise achievements of the Narendra Modi government in past two-and-half years.
"We want to bring this money into the system. And now, you and I have less cash and there is also less inflation,"said Naidu. The urban development minister hinted that the large discrepancy in government fixed land rates and transacted rates will be monitored, to check large cash deals in properties.
"This will make property prices more affordable and drive demand for the real estate sector," he said.
The government also seemed to have some political motivation of going after black money in property sector. "In 1988, Benami transaction Act was passed by Parliament. What happened to Congress then?" he said, brushing aside criticism of major opposition parties on the move to demonetise the economy and rid it of black money.
"They want to pollute public perception. But the overhead tank is very clean and green and sending good water below," Naidu said, refering to leadership of Prime Minister Narendra Modi.