National Will Trust
The Issue
NATIONAL WILL TRUST
Objective:
India aspires to be a global force and has the potential to grow as a developed nation. On the historical canvas Indian civilization’s past has been witness to the glory of righteousness, peace, and development. To lead the nation to desired objective again we need lots of ideas and concrete funds along with the endeavor of its citizens. This draft – proposal seeks to address the issue in its own way with its limited but significant potential.
Proposal
Hon’ble Prime Minister of India has come up with a brilliant theme that development is the fundamental answer for most of the evils. For that we would definitely require more and more resources in terms of ideas and concrete finance.
Can citizens of India contribute to the nation back even in their eternal journey??
Yes!! There would be many who may want to do it, but for want of a proper mechanism they and their nation are deprived of it.
Let us float a NATIONAL WILL TRUST with facilities of operations digitally as well as offices in all the districts of the nation.
Salient features:
1) Any Indian individual , any global citizen , any NRI , from any part of the world can will a part or complete property and assets (movable or fixed or liquid) or rights or royalty which he or she owns individually or as a partner or as an inheritor by natural law to National Will Trust , India. This trust should be enforced through enacting legislation by Parliament similar to Tirupati Tirumala Devasthanam Trust in Andhra Pradesh.
2) The person who wills it to the nation can have the option either to commit completely to the treasury in general (i.e. Miscellaneous ) or they can select options to allocate their contribution in percentage to various variable institutions viz. Defence , Education, Health, Infrastructure , Potable water resources , Electricity generation , Nuclear energy, Research , Employment generation, Eradication of malnutrition ,Vocational Institutions, Disaster Management, Differently-abled , Old age Homes ,Orphanages, etc.
3) All the assets so nominated to the nation shall remain a property of the person till his/her death. He or she shall have all the right to use it for his sake or for his kith and kin. He or she shall have the right to alter it till his death.
4) Only the committed / nominated amount or a part of it whatever is remaining shall be transferred to national treasury after his/her death. The essence of this concept is that the individual does not need to part any amount through this mechanism in his life time , but can still leave any part of his legacy for the nation , which shall be utilized in nation building as per his wishes.
5) Suppose he or she wishes that the “willed” contribution may be utilized in the development or repair of certain road, then through the infrastructure development module that can be implemented as per the individual’s wishes co-ordinating with state government. If someone wishes it should be utilized in development of a park, then through environment module it can be utilized similarly for a park in the approved zone. Suppose the park development in the desired zone is already approved by the government, then the contribution can be channeled in the fund which the state government would be utilizing to develop that park. Co-ordination between this central trust and state government would have to be established for the same. It would be understood that such preferences would be honored in approved projects. The Trust or government would not be under obligation to fulfill desires mentioned with regard to unapproved projects. The government may on its own approve a project related to desire if it finds it suitable or if it realizes that the amount of legacy coming to the trust in itself is sizable enough to take care of the project expenditure.
6) There would be no limit enforced for the purpose (neither minimum nor maximum).
7) The officers at district headquarters should be directly responsible for monitoring of transfer of legacy as per the will. They should be primed to exercise highest levels of courtesy so as to avoid any controversial message going out to society.
8) Corruption in this fund would be intolerable. This can be ensured through maximum use of technology. Each year whatever amount has been received by any Institution , for that, they would be under obligation to provide a feedback regarding the way the fund has been utilized with appropriate documents which can stand the scrutiny of CAG.
9) The mechanism should be put in place that a person who so desires can nominate directly National Will Trust (NWT) in his /her FDs or such funds, which in the event of his /her death can directly be transferred from their accounts to the said fund. All these accounts are anyway linked to Aadhar number and PAN number so they should be helpful. All such nominations should be informed by default by the respective banks to the National Will Trust and receive acknowledgement.
10) People can nominate their bank lockers / cash / any treasure / shares / bonds/ mutual funds / movable or immovable assets. After the death of the individual the same would be transferred as national property without any question of the source of income and irrespective of taxation.
11) Whatever a person may leave in his/her legacy for the nation; the immediate wards (if it is desired by the person who is nominating to the NWT) should be intimated by the NWT at least once, say within a defined period of say two to five years the details of how and where the “willed” amount has been utilized with some kind of documentary evidence. This feedback would generate goodwill and help create a motivating ground for the future generations to emulate the same. Say for eg . if someone has ‘willed’ for Defence sector , then atleast his wards should be provided with a documentary evidence that the said amount has been transferred to the defence ministry to be utilized for purchase of so and so, or development of so and so (project) , defence research , etc.
12) There should be a tracking system put in the place like it is practiced for courier services.
13) Along with the option to “will’ after the life period; there should be also an option to allow the citizens to contribute to the fund even during the life time (i.e. “will” any contribution during life time).
14) The Chairman of the trust should be the PM of India. The Board members chosen should be acknowledged for their honesty and financial integrity chosen from any walk of life across the society viz. retired Supreme Court or High Court Judges, Defence personnel, Eminent Doctors, Social activists of repute, learned economists, bureaucrats, retired CAG, emiment Philanthropists, Achievers in Industry, etc. The trust would be audited by CAG and would follow norms detailed by governing body.
15) Guidelines for utilization of fund: Whatever amount is left in legacy by anyone for any sector; 10 % of that amount would go to the corpus as a rule to take care of expenditure, etc. Rest of the 90 % shall be allocated to the desired sector.
In this way even the civilians would have the opportunity and shall feel proud to contribute to the cause of nation in their last journey. It will also enthuse a sense of nationalism in the society. It is noteworthy that it is entirely OPTIONAL hence uncontroversial.
Why should citizens contribute to it ?
By leaving behind a part of our legacy to contribute to NATION BUIDING it actually and in an intangible manner serves our purpose of creating a better future for our wards and countrymen.
The draft in its entirety can be read at www.rajivlakhotia.simplesite.com
---------------xxxxxx-----------------
The Issue
NATIONAL WILL TRUST
Objective:
India aspires to be a global force and has the potential to grow as a developed nation. On the historical canvas Indian civilization’s past has been witness to the glory of righteousness, peace, and development. To lead the nation to desired objective again we need lots of ideas and concrete funds along with the endeavor of its citizens. This draft – proposal seeks to address the issue in its own way with its limited but significant potential.
Proposal
Hon’ble Prime Minister of India has come up with a brilliant theme that development is the fundamental answer for most of the evils. For that we would definitely require more and more resources in terms of ideas and concrete finance.
Can citizens of India contribute to the nation back even in their eternal journey??
Yes!! There would be many who may want to do it, but for want of a proper mechanism they and their nation are deprived of it.
Let us float a NATIONAL WILL TRUST with facilities of operations digitally as well as offices in all the districts of the nation.
Salient features:
1) Any Indian individual , any global citizen , any NRI , from any part of the world can will a part or complete property and assets (movable or fixed or liquid) or rights or royalty which he or she owns individually or as a partner or as an inheritor by natural law to National Will Trust , India. This trust should be enforced through enacting legislation by Parliament similar to Tirupati Tirumala Devasthanam Trust in Andhra Pradesh.
2) The person who wills it to the nation can have the option either to commit completely to the treasury in general (i.e. Miscellaneous ) or they can select options to allocate their contribution in percentage to various variable institutions viz. Defence , Education, Health, Infrastructure , Potable water resources , Electricity generation , Nuclear energy, Research , Employment generation, Eradication of malnutrition ,Vocational Institutions, Disaster Management, Differently-abled , Old age Homes ,Orphanages, etc.
3) All the assets so nominated to the nation shall remain a property of the person till his/her death. He or she shall have all the right to use it for his sake or for his kith and kin. He or she shall have the right to alter it till his death.
4) Only the committed / nominated amount or a part of it whatever is remaining shall be transferred to national treasury after his/her death. The essence of this concept is that the individual does not need to part any amount through this mechanism in his life time , but can still leave any part of his legacy for the nation , which shall be utilized in nation building as per his wishes.
5) Suppose he or she wishes that the “willed” contribution may be utilized in the development or repair of certain road, then through the infrastructure development module that can be implemented as per the individual’s wishes co-ordinating with state government. If someone wishes it should be utilized in development of a park, then through environment module it can be utilized similarly for a park in the approved zone. Suppose the park development in the desired zone is already approved by the government, then the contribution can be channeled in the fund which the state government would be utilizing to develop that park. Co-ordination between this central trust and state government would have to be established for the same. It would be understood that such preferences would be honored in approved projects. The Trust or government would not be under obligation to fulfill desires mentioned with regard to unapproved projects. The government may on its own approve a project related to desire if it finds it suitable or if it realizes that the amount of legacy coming to the trust in itself is sizable enough to take care of the project expenditure.
6) There would be no limit enforced for the purpose (neither minimum nor maximum).
7) The officers at district headquarters should be directly responsible for monitoring of transfer of legacy as per the will. They should be primed to exercise highest levels of courtesy so as to avoid any controversial message going out to society.
8) Corruption in this fund would be intolerable. This can be ensured through maximum use of technology. Each year whatever amount has been received by any Institution , for that, they would be under obligation to provide a feedback regarding the way the fund has been utilized with appropriate documents which can stand the scrutiny of CAG.
9) The mechanism should be put in place that a person who so desires can nominate directly National Will Trust (NWT) in his /her FDs or such funds, which in the event of his /her death can directly be transferred from their accounts to the said fund. All these accounts are anyway linked to Aadhar number and PAN number so they should be helpful. All such nominations should be informed by default by the respective banks to the National Will Trust and receive acknowledgement.
10) People can nominate their bank lockers / cash / any treasure / shares / bonds/ mutual funds / movable or immovable assets. After the death of the individual the same would be transferred as national property without any question of the source of income and irrespective of taxation.
11) Whatever a person may leave in his/her legacy for the nation; the immediate wards (if it is desired by the person who is nominating to the NWT) should be intimated by the NWT at least once, say within a defined period of say two to five years the details of how and where the “willed” amount has been utilized with some kind of documentary evidence. This feedback would generate goodwill and help create a motivating ground for the future generations to emulate the same. Say for eg . if someone has ‘willed’ for Defence sector , then atleast his wards should be provided with a documentary evidence that the said amount has been transferred to the defence ministry to be utilized for purchase of so and so, or development of so and so (project) , defence research , etc.
12) There should be a tracking system put in the place like it is practiced for courier services.
13) Along with the option to “will’ after the life period; there should be also an option to allow the citizens to contribute to the fund even during the life time (i.e. “will” any contribution during life time).
14) The Chairman of the trust should be the PM of India. The Board members chosen should be acknowledged for their honesty and financial integrity chosen from any walk of life across the society viz. retired Supreme Court or High Court Judges, Defence personnel, Eminent Doctors, Social activists of repute, learned economists, bureaucrats, retired CAG, emiment Philanthropists, Achievers in Industry, etc. The trust would be audited by CAG and would follow norms detailed by governing body.
15) Guidelines for utilization of fund: Whatever amount is left in legacy by anyone for any sector; 10 % of that amount would go to the corpus as a rule to take care of expenditure, etc. Rest of the 90 % shall be allocated to the desired sector.
In this way even the civilians would have the opportunity and shall feel proud to contribute to the cause of nation in their last journey. It will also enthuse a sense of nationalism in the society. It is noteworthy that it is entirely OPTIONAL hence uncontroversial.
Why should citizens contribute to it ?
By leaving behind a part of our legacy to contribute to NATION BUIDING it actually and in an intangible manner serves our purpose of creating a better future for our wards and countrymen.
The draft in its entirety can be read at www.rajivlakhotia.simplesite.com
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Petition created on 11 March 2016