More legislations are needed to deal with the menace of black money and corruption in the country, PHD Chamber of Commerce and Industry said today.
Addressing a conference here, the chamber's President Anil Khaitan exuded confidence that the Benami Transactions (Prohibition) Amendment Act, 2016 would amount to removing black money stored in the real estate sector. He said more legislations of this nature are needed to root out corruption and eliminate the growing menace of black money.
"However, each provision should not be laced with provision of imprisonment," he said, according to a statement issued by the industry body.
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