news details |
|
|
| Anil Bokil's Idea implemented boldly by Modi Jee - | | | Mahadeep Singh Jamwal | 11/16/2016 12:42:45 AM |
| The crusade on parallel economy by demonetizing the currency notes of 1000 & 500 denominations by Modi Jee, a welcome step has occupied the complete space on national TVs, and as a common man I also remain glued to the continuous reporting since the national address by PM on 8 November 2016 at 8 PM. The balanced coverage spread almost too all length and breadth of the country. The print media also carried the balanced reporting on the subject.
It was boastfully claimed from the treasury benches that the decision has not been implemented in hurry but after thread ware discussions on the outcome of the implementation visualizing the problems, the people will face thereof. Practically the ground reality is quite far from the claims and people have been rendered only to line up for a meager exchange of Rs. 2000 and drawl of the same amount. More chaotic situation till date is that the government has failed to pump in denomination of Rs.100 notes, the most required currency, to en-cash a note of 2000 has been rendered most difficult. The banks are handicapped owing to the reason of non availability of required currency notes. Most ATMs have become non functional due to lack of recalibration. This all speaks of hurriedly taken decision to implement demonetization without accessing the real perspectives and required home work.
It has become the fashion of leaders to credit themselves for all the policies readily acceptable to the common mass and the brains giving such revolutionary ideas are never mentioned even ones. If at all we have to believe the 'Google", the idea of this drastic change came from Anil Bokil of Arthkranti, a Pune based financial think tank. Bokil reportedly met PM Modi a few months back to give a presentation on financial reforms and was given a mere 9 minutes to put forward his take on the issue. He suggested some key measures to control the flow of black money, the main one being a ban on big currency notes. Apparently, his arguments were quite intriguing to PM Modi and he kept discussing the matter for almost two hours. One of the reasons given by Bokil was that on an average, transactions of Rs.2.7 lakh are done on a daily basis in India which amounts to Rs.800 lakh crore in a year. Out of that, only 20% of transactions take place via banks and the rest are in cash, hence untraceable. Another reason he put forward for the ban is that about 78% of the population in the country spends only Rs.20 a day and therefore doesn't require big currency notes. The main suggestions by Bokil were:
" The collection of money under 56 different taxes should be stopped except for import duty.
" A ban on Rs.1000, Rs.500 and even Rs.100 currency notes
" Each and every transaction should take place via bank with the help of cheque, demand draft or online
" Revenue collection should be done with a single banking system
So it is right to say that Modi jee deserve applause for implementation of the idea of ban on big currency notes but at the same time we must applause for Mr. Anil Bokil for a revolutionary idea. Whereas the home work required at the government level for applause is badly missing. We feel that other suggestions by Bokil are the one which Modi Jee is claiming to have more ideas with him to curb the black money. The decision so implemented is all praise worthy but as a political aspect of the decision I will not hesitate to say that does its all credit goes to Modi Jee, or some to the person behind this wonderful idea as everyone is appreciating PM Narendra Modi only. This may be because of the facts that nobody knows the real man behind the show. Anil Bokil is the man behind Rs.500 and Rs.1000 rupee notes demonetization. PM Narendra Modi followed the idea given by Anil Bokil and implemented it boldly. The entire story of demonetization was being planned since six months, but the only people who knew this were Modi, Arun Jaitley and RBI Governor. The RBI started to print new 2000 and 500 Rupee note 6 months back. Once everything was ready, Modi called for a top level meet on 8 November at 6.30 PM. The only people who attended this meet were Modi, Arun Jaitly, Ajit Doval and RBI Governor. In the meeting the decision was made to announce the entire plan at 8.00 PM. Until Modi's speech got over, no person was allowed to go out of the cabinet meet room.
The cash non availability in Banks and faulty operations of ATM due to their non-calibration because of new currency note, governments failure to pump the sufficient money in these exchange sources have really put the common man in most difficult time of their life as they have been left completely handicapped and paralyzed even after having their own hard earned money, kept hostage by the government and all these sufferings on the 90% honest and hard earners is the strike of government on 10% corrupt and black marketers, clearly speaks of zero exercise on the outcome of this demonetization with regard to sufferings of the people. It appears to be implemented in haste for political gain also.
This is the reason every day the situation is monitored and every day some measures are announced keeping in view the situation during the day. This clearly speaks of weak home work on this aspect. This is also strengthened from the daily sops from government in installments and now quite clear from the emotional appeal of PM to grant him 50 days for everything to be smooth. It is clear admittance of zero home work and its implementation in haste although its results are far reaching in coming years.
Many people say that this move by Modi government is affecting the common man more than the one who has hoarded black money, this should have been done without affecting the common man. I will like to put here the posting by a very highly renowned Dr.JP Kanotra from Jammu on my Whats App group 'We for You' commenting that common man is part of the system that created black money and his vision about it is as; "Common man is the one who goes and gets his groceries from a retail shop for cheaper price, knowing that the retail shop hardly pays any tax at all. Common man is the one who prepares fake rental agreements and shows it as proof for HRA. Common man is the one who pays bribe to a government official, just to make out our work easier. Common man is the one who accepted Rs. 500/1000 (black money) from both political parties that are contesting elections. Common man is the one who purchases a product without bill, to save money (there by creating black money) Common man is the one who gives 'mamool' to create black money to the police for keeping their illegal shops. Common man is the one who offers bribe (black money) to the police for .drunk and drive, not wearing a helmet, etc. contributing towards back money with this fraternity, instead of paying fines at the court. Same way police collects cash 'Hafta' from all hawkers' traders etc. Municipal staff, rail staff and many others collect bribe all in cash. Common man is the one who saves money little by little and purchase property and registers for under market value to save money (there by creating black money). Common man is the one who gives donation (creating black money) to a private school who won't give a bill. Common man is the one who doesn't even understand that he is entitled to far more privileges than he/she is currently receiving, which is drastically reduced to corruption /black money. Common man is the one who complains about the corrupt system but doesn't take any steps to correct the system, but instead keeps on playing the blame game. Common man is the one who is complaining now that this bold step is causing inconvenience to them. Common man is the one who justifies all these acts saying politicians are corrupt, so we can be corrupt too. So I am asking how one can clean up a system that you and I (common man) are an integral part of."
Further another visionary mind Mr. Umesh Manhas too has posted his quarries on this group which also deserve to be mentioned here goes as; "Who voted for Modi.
Who celebrated when he got elected? Who were proud when he was welcomed all around the world and then one day he came on TV and said I quote "From tonight 500 and 1000 rupees note will be not legal tender from midnight". Excellent job Mr. Modi we are with you on this but some clarification is required as, 82% of circulated money came to no existence. Money worth 14 lakh crore, how much money, you are going to inject back to the economy for cash transactions. If it is not at least 50% how Indian economy will survive next 6 months. I want to see".
" First phase of this will wipe small business and traders which consists of 13 percent of Indian population, selling basic commodities. Who pay tax but not what they should reason - government doesn't do anything for them.
" 2nd phase will impact service industry. According to an estimate 63% people will lose job; retail industry will dry out for at least 2 years. Unemployment will increase.
" Exports for any will not increase as we will not have production capabilities. Inflation will be all high.
" Real estate market will crash for at least 10 years.
" Labor coming from small villages working in construction will have no jobs.
" People died as they didn't get medical treatment, auto drivers, taxi drivers will not be able to pay their loans and will lose their source of income. Luxury market will not exist. Malls will shutdown. Restaurants will shutdown.
Concluding it is not out of place to mention that at one hand demonetization is a well come step but chaos and crises created by way of its implementation being faced by the common man, who is an honest and hard working person speaks of ill planned strategy and this is the reality, one may say anything else. This proves the saying that sometimes better ideas implemented without proper application of mind are always troublesome. One may pose himself to be only visionary in the human generation; but he should not forget "Sitaroun Se Aage Jhaan Aur Bhi Hai". |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
