Economic Crisis in India "Big Currency-Big Problem"

Everyone in this country wants that they should have more money in the pocket. But the currency above Rs.50/- is the big problem in this country.And only because of this big currency above Rs.50/- our country & we all facing problems

of black money, corruption, money crises etc…

There are many Economist or experts who are talking & writing on the same line that govt. should stop this currency above Rs.50/- They are dreaming about Economic Revolution should come to now in the country & for that they always coming with their write-ups, giving interviews on TV, or through Internet, media etc. to make awareness among all country people that not to use such currencies. And as usual we all are sleeping & saying that Economists are always showing different directions to us. Something likes indigestible things.

You know one Mr. Anil Bokil- Economist says that “Money is very important part of every individual’s life, but not everyone understands the mathematics behind this or not try to understand. If we try to remove the difficulties, more transparency we can feel about.

How black money takes birth:- We all know that in our country everyone deals in cash instead of through Bank and hence there is no records in writing. India makes dealing almost 80% by cash.

Long decade in USA there ex president Richard Nicolson had cancelled all currency above $100 in the year1969 coz of lot of increased black money due to terrorism and many other issues. And now today same situation starts in our country. Black money is available with every Politician, Builders, and Gundas, which ultimately goes to Naxalites / terrorists. If today we stop this currency above Rs.50/- all black money will turn into white & surely we can make our nation stronger as dreamed by Mr. Abdul Kalam and there is no any other way to open.

Basic root cause is every one wants to get rid of any kind of tax or to hide not to pay Tax. Every one in this country does this & doing it. It became a Human tendency in India. And due to this govt. tries to recover direct tax alongside indirect tax also.

One normal Indian pays almost 30-32 types of tax innocently. Our Taxation systems in so complicated that no one understands this that they are being made fool by govt. For example: If a TV rate in Mumbai is 5000/- then the same TV will cost somewhere in Chennai about Rs.5500/- and the same TV will cost in Madhya Pradesh around Rs.4500/- coz of different structure of Sales Tax. It means one TV or any thing will cost different in every states & hight to it that our one rupee differs in every states in our country. Because of such complication in taxation normal businessmen & other people just not paying taxes, there this black money borns. And in this way who don’t pay taxes govt. is not able to recover the revenue & thus we as country facing many other problem which are interlinked.So here what we need to do is that govt. should make tax rules/systems in standard way.

Except Import duty between two countries all other tax in the country i.e all states, local etc. should be stopped and only one type of tax should be introduced through banks only which can be names transaction Tax. There will not be any cash transaction or dealing. Since all tax going to govt thru. Bank all hurdles will get stopped automatically. Everyone can work tension free. No need of filing returns etc. Poor people or below poverty levels people can be eliminated from cash transaction and ultimately from tax related things.

Example for this is: -

Suppose I pay you Rs.100/- thru cheque, it will debited from my account as Rs.100/- & in your account it will get credited Rs.98/- difference of this Rs. 2 (two) out of which 70paise will automatically go to Central Govt., 60paise to State Govt., 35paise will go to Local Corporation or Municipality & balance 35paise will be for bank as revenue or like service charge. This way Govt. will have continues flow of revenue everyday & time and important thing is that, every people will come out from this tension of paying tax.

With implementation of this system now whatever black money is available in the market, will come in main flow of white world. Because our most corrupted political leaders are using all black money in the various elections in our country. And of course this year also elections are coming up. If we start attacking this system, hope all black money will come out in the main stream. Political leaders of this country not only making black money, also they are utilizing those in illegal & anti-social ways where in normal other category humans are also directly & indirectly responsible for this. To avoid these corruption, all transactions above Rs.2000/- will be get recorded & a miracle will defiantly happen in this country.

We all are in one ship say like Titanic. Bottom level normal people and on middle level all rich peoples like businessman etc.. and on top level all these Politicians staying & traveling together. Suddenly there is big hole at bottom of the ship & due to which water coming inside it & starts going down & gown.Naturally all normal people starts getting sinking & dead then all other level peoples are also sinking down & down. So to block that hole every one has to bend down then only you will save the titanic or ship or else every one has to go to one place ….Hope no need to say anything…

Only because of few, we are making our lives difficult.So let’s move together from darkness to find light and make the things easy instead of making difficult.

“JAI HIND”

Umashankar Sahu,

(Founder/Chairman),