Modi's next strike will be on 'Benami Property'

“This (demonetization) is not an end. I have more projects in mind." "I will not stop doing these things, even if I am burned alive,” The above statements are making the room that many surprises are in the queue. Experts asserting that PM Modi has a long-term action plan to curb Black Money in all forms. His next strike will be on 'Benami Property.' We are all well aware that holding undisclosed currency is just one form of Black money and its just a tip of iceberg. A Huge amount was actually transformed into various forms like Gold, Benami transactions, Purchasing lands, Dollars, Foreign accounts, etc. Prohibition of Benami Property Transactions Act (PBPT Act), 2016 which came into force from 1st November aimed to prohibit illegal Benami transactions. According to this newly amended law, persons who caught with illegal 'Benami' assets could serve a significant amount of fine along with a rigorous imprisonment up to seven years. In addition to this, all such identified properties will be confiscated.