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Linking of property transactions to Aadhaar: A step to curb Benami Transactions
The introduction of Aadhaar card has brought a massive change to the residents of India. It has helped in elimination of fake identities and curbing illegal activities. Aadhar is an identity proof which contains all the authentication, address proof and other basic details which enables the Government to reach the residents for any type of delivery of benefits and services directly.Aadhaar card is and has been playing an important role in safeguarding the benefits of the people.
Prime Minister Narendra Modi has taken some immense initiatives to bring about a change in the economy. The foremost step was banning of notes i.e., “Demonetization” which has brought a radical change in the economy. This was done to eradicate the black money which was piled up. The next initiative taken by Prime Minister was the “linkage of subsidies and other accounts” with Aadhaar Card.
One such proposed change is to link the Aadhaar card with real estate transactions which will act as a weapon to all the benami properties. As we all know that ‘Benami’ properties are those which are not bought in their respective names. The proposal is to mandatory linkage all the property transactions to the Aadhaar card in order to eradicate corruption and black money. Although there is an act enacted for the prohibition of Benami properties and various steps have been taken to eliminate the illegal activities taking place which hampers the progress of the state as the entire process reduces the revenue of the government. In order to bring about a permanent change and put a full stop to all the illegal activities taking place, it was made compulsory to link the property transactions to Aadhaar. Prime Minister had also said that any property which is benami belongs to the country.
