Demonetization most Viable Model for Endurable Development – Anil Bhokil
Moodbidri: Social activist and the member of the Pune-based Artha Kranthi Sansthan, Anil Bhokil, said, “there is a colossal difference between progressive development and sustainable development. If you want to achieve something prodigious follow the system which stabilises the economy. Hence, demonetization is the most viable model in the line of endurable development”.
He was speaking as a guest speaker on the ‘After effects of demonetization’, organised by Alva’s Education Foundation, Rostrum, Speakers’ Club, on Tuesday, March 21 at the AIET Auditorium, Mijar.
‘Demonetization is a very good tool to arrest black money and was implemented with a very good intention to make India free of the parallel black economy and black money’, he said. Social welfare, social security and empowered India can be visualised with effective governance. And effective governance comes with bold decisions. Poverty alleviation, tracking the footprints of transactions, avoiding black money and tax evasion are the fruits of demonetization. He added and said, demonetization is not an event, it is a continuous process. Stating black money as unaccountable, and corruption as untraceable, he said e-monetization is the substantial solution for existing problems. He lamented over the disconnection between source and resources. Equating hard cash as a commodity and cashless transaction as a medium, he explained the adversities of possessing commodity. Withdrawal of existing taxation system except customs duties would yield better results in blocking corruption and black money. Answering a query about the GST bill, he said GST is not practically suitable for a country like India, hence it is necessary to make a proper review of the decision. He elaborately explained the proposal of ArthaKranthi suggestions for the transition phase.
Presiding over the function, Alva’s Education Foundation Trustee Vivek Alva, gave a clarion call to students be game changers with a positive perspective towards nation building activities.
Artha Kranthi member Mahesh Hegde, Rostrum Speakers’ and Club Coordinator Deepak Raj were present among others.
The decision to demonetise will cause grievous injury to the honest Indian who earns wages in cash. The dishonest black money hoarder will get away with a mere rap on the knuckles
It is said that “money is an idea that inspires confidence”. At the stroke of the midnight hour, on November 9, 2016, the confidence of more than a billion Indians was destroyed. Prime Minister Narendra Modi had declared that more than 85 per cent of the value of money held in notes of Rs.500 and Rs.1,000 was worthless overnight. In one impetuous decision, the Prime Minister has shattered the faith and confidence that hundreds of millions of Indians had reposed in the Government of India to protect them and their money.
More than 90 per cent of India’s workforce still earn their wages in cash. These consist of hundreds of millions of agriculture workers, construction workers and so on. While the number of bank branches in rural areas have nearly doubled since 2001, there are still more than 600 million Indians who live in a town or village with no bank. Cash is the bedrock of the lives of these people. Their daily subsistence depends on their cash being accepted as a medium of valid currency. They save their money in cash which, as it grows, is stored in denominations of Rs.500 and Rs.1,000 notes. To tarnish these as ‘black money’ and throw the lives of these hundreds of millions of poor people in disarray is a mammoth tragedy. The vast majority of Indians earn in cash, transact in cash and save in cash, all legitimately. It is the fundamental duty of a democratically elected government in any sovereign nation to protect the rights and livelihood of its citizens. The recent decision by the Prime Minister is a travesty of this fundamental duty.
Demonetisation is substance without success. Repeated denial of RTI query from both PMO and RBI Governor proves its failure.
Prior to demonetisation outlawing Central government employees from investigation agency without government approval is another blunder. Excluding the political parties from Foreign funding and RTI act is the continuation of black money by the political elite.Open Hundi policy during demonetisation adopted by the government is just open space practice hawala by the temples.
PMO nor RBI Governor know what is the success of entire demonetisation process. None of the office is willing to take open questionnaire in the neutral venue from International media or Indian mass media is its testimony.
I challenge Anil Bokil to prove $135 billion outstanding debt of public sector banks will be paid by the corporate world? Indian democracy is the mother of all corruption.Demonetisation is not the solution until political system is cleansed.
Jai Hind