The War on Black Money-The Real Freedom at Midnight
The war on black money by our honorable Prime Minister Mr. NaMo reminds me of the globalization movement started by Ex Prime minister Narasimha Rao. Banning the high denomination notes is the single greatest movement by Modi government in the recent years against the greatest cancer of this country, the black money. It may create some short lived problems and irritation but it is for a greater cause. Mr. Modi knew this but took a great stand against the evil. On a longer term this will give tremendous boost on the Indian economy and the welfare of the honest bread winning people of this great nation. Our country is striding through great times under the leadership of our beloved Prime Minister Mr. Narendra Modi who came from the lowest level. We know that he understands the plight of the common man unlike the rich and powerful who were looting this country for almost 70 years.
A few of these gathered on the Union cabinet meeting on the evening of November 8th have been cracking their knuckles in anxiety; a couple of others have been fidgety; others have been hiding their apprehensions at the back of calm faces. Sporting activities Minister Vijay Goel took a shot at levity by using narrating funny incidents to the minister seated via his side, who used to be stealing glances at the clock on the wall. It was three minutes to 7 pm.
Cabinet members had got a prior advisory to not get cellular telephones to this exclusive meeting, heightening the anxiety. None wanted to be the first to take a guess at the agenda, even though some surmised that it needed to do with terror activities, border conflicts and ceasefire violations. At 7 pm sharp, Prime Minister Narendra Modi made an entry and gestured the gathering to silence. “I’ve a main announcement to make,” he declared. The top Minister told them that the lengthening shadow of black money and corruption had began to eclipse India’s growth story and injury the nation’s image overseas. There was once pressing want for decisive motion. He spelt out some figures after which dropped the bombshell: all Rs 500 and Rs 1,000 notes would stop to be legal from midnight. The public could be allowed to change old notes to newly issued Rs 500 and Rs 2,000 notes up until December thirtieth at banks. A country wide announcement would be made on TV. He instructed his colleagues that unlike in 1978, when the then high Mr Morarji Desai took the selection by way of himself, he had decided to take the cabinet into confidence on the predicament. The Prime Minister stated that the gathered ministers might ask Finance Minister Arun Jaitley for any clarifications they wanted. Minister of Mines Narendra Singh Tomar let loose a laugh, high pitched and frightened. Some would be heard sucking their breaths in. Just one minister had questions. Aside from Jaitley, all of them were taken fully aback. From his chair, the Prime Minister studied the reaction on each face intently.
What are the advantages?
Although this movement may cause some short term difficulties, we as Indians should unite and back our Prime Minister to eradicate those vicious black money and the perpetrators. But the factor behind Modi’s announcement wasn’t to truly trade the best way that the black money economy works. It was to exhibit that he’s equipped of doing something – of robust management. And, from that factor of view, it used to be a sign each of desperation and brilliance.
On a long term basis some of the advantages are
The biggest skills of demonetization is that it helps the government to monitor humans who are having significant sums of unaccounted money or money on which no revenue tax has been paid considering the fact that many folks who earn black money preserve that money as money in their houses or in some secret position which could be very problematic to find and when demonetization occurs all that money is of no price and such men and women have two options one is to deposit the money in bank bills and pay taxes on such quantity and 2d option is to let the value of that money decreased to zero.
For the reason that black money is used for unlawful events like terrorism funding, playing, money laundering and likewise inflating the fee of main belongings lessons like real property, gold and because of demonetization all such movements will get diminished for some time and likewise it will take years for humans to generate that quantity of black money once more and accordingly in a method it helps in hanging an finish this circle of folks doing unlawful activities to earn black money and using that black money to do extra unlawful pursuits.
A further improvement is that as a result of men and women disclosing their revenue through depositing money in their bank debts government gets a excellent amount of tax revenue which can be utilized by means of the government towards the betterment of society by way of supplying just right infrastructure, hospitals, academic associations, roads and plenty of amenities for terrible and needy sections of society.
Why do you have to worry?
Assuming that you are a patriotic honest man you do not have to worry may be it is the
- Sports stars
- Movie Stars
- Mega Business men
———————–Should be worried
- It helps the government to battle corruption, Black money, counterfeit foreign money and terrorism.
- The immediate outcome on the shortage of funding chokes the espionage, arms smuggling, and terrorist related routine.
- This daring transfer allows combating in opposition to the counterfeit Forex used for financing terrorism
- Limiting ATM withdrawals will motivate money less card payments throughout the country
- Tracking of cash is made handy because the alternate is best to be had via producing legitimate identification proof like Aadhaar, PAN, and Election Card
- Benami transactions will probably be blown away as the new legislation provides a provision for seven-12 months imprisonment or fine, or both.
- This decision’s outcome is the betterment of our real estate industry. Indian real estate sector gets extra credibility and attracts domestic and overseas investors.
- Housing costs may witness a downfall restoring demand in the housing phase
- The step additionally outcome in the end of synthetic hype created in real estate.
- Higher education and Healthcare transactions will come in the reach of a common man.
- Elections are approaching in U.P, in the state like U.P votes are sold in return of money after this step no party is left with any black money and there will be a fair election.
- It will also benefit the government to increase money in government accounts because it will increase the revenue by government new policy of 200% penalty.
- It will make a full stop on duplicate notes of 1000 and 500 which are internally spoiling the country.
- It will be a lesson to those who are doing corruption.
- It will surely make a full stop on black money.
People, it is high time that we stand united, the hell with those politicians and bureaucrats, sports stars and movie stars. We must stands behind this great leader for our own and our country’s betterment.