Demonetization is an assault on the corrupt people, it is a nightmare come true for all those who earn money by illegal means and stash the black money secretly in their houses. People who are in the possession of the black money have a lot to fear now.
Black money and corruption are the biggest obstacles in eradicating poverty from the nation, something had to be done to destroy this evil. PM Modi took the brave step of banning the old Rs. 500-1000 notes. With this step, the black money hoarders have to either give an account of the money they earned by illicit means or their precious money notes become worthless pieces of paper now.
But there’s something that you don’t know about the demonetization policy, this move was not proposed by Arun Jaitley or any minister of the Modi Government. The demonetization idea was suggested to PM Narendra Modi by Anil Bokil. He is a Chartered Accountant and a key member of a Pune policy institute, Arthakranti Sansthan.
Anil met PM Modi in the month of July of this year. He presented some measures that would implement financial reforms in India.
Due to demonetization, the entire nation is experiencing a great deal of trouble. However Anil Bokil blames the Modi government for not effectively implementing the demonetization policy and also using his advice only “selectively”. He told Mirror that he was on his way to Delhi for a meeting with the prime minister on Tuesday. There was no confirmation of this from PMO, though.
In an interview given to the Mirror, he explained what went wrong in the demonetization policy.
The proposal I placed before the PM was a comprehensive one and had five aspects. However, the government chose to use only two of them. It was a sudden move, not well-thought-out. The move cannot be welcomed or rejected. We are compelled to accept it. The road map we gave the government would not have caused such pain.
What he had suggested to the Modi government.
The proposal I placed before the PM was a comprehensive one and had five aspects. However, the government chose to use only two of them. It was a sudden move, not well-thought-out. The move cannot be welcomed or rejected. We are compelled to accept it. The road map we gave the government would not have caused such pain.
What he had suggested to the Modi government.
1. Scrap collecting 56 taxes (including income tax), keeping only import duty.
2. Recall and scrap high denomination currencies of 1000, 500 and even 100 rupees.
3. All high-value transactions to be made only through banking systems like cheques, DD, and electronic transfers.
4. Put a cap on cash transactions and no taxing on cash transactions.
5. For the government to collect revenue, introduce single point tax system through a central banking system.
If the government would have followed his suggestions, no one would have died. But the government implemented only the selective suggestions. Anil and his team suggested a policy which focused only on eradicating black money and terrorism, without causing any inconvenience to the citizens.
