Saturday, December 17, 2016

Creating loopholes - an Appeasement Strategy

To days  ( 17th Dec 2016) Headlines :

To Quote..  ( click this to read full article)
“Dekhiye, if it is a deposit in  the account of political parties, they are exempt. Lekin agar individual ke account mein, kisi ke bhi account mein jama ho raha hai, toh woh toh definitely the information will come on our radar (See, if it is a deposit in the account of political parties, they are exempt. But if it is deposited in any individual account, in anyone’s account, that information will definitely come on our radar.)

NaMO must have faced heavy opposition not only from Mamta didi and Rahul Gandhi but from his own party men  " Are there no elections to come ?"  ( Mr. Modi quoted Mrs Gandhi  discouraged YB Chavan  when he suggested demonetization )

The result is the new announcement about political parties being exempted from tax deposits made till 30th December. Others have to pay 50%  tax.

An official route is created for all black money holders : Now they can safely deposit their money in the name of some political party, however insignificant it is and draw the amount later under some context  or other for their intended use not necessarily in the interest of public.

Thus they can not only avoid tax but also safely convert the Black to White

The gullible Indian voters are once again taken for ride.

Correct me if I am wrong. 

Friday, December 9, 2016

Cashless- prepaid cards-No Mobile phones

Government of India is announcing  many incentives to encourage cashless transactions.

What surprises me is that I could not find a prepaid card procurement and transacting it through point of sales outlets. It looks simple to implement.

In the present card transactions the main deterent seem to be the  2% transaction fee which VISA or MASTERCARD or PAYTM charges from the vendor.

 Government of India can step in here and make it less than 0.5% as the volume is high. This can be collected even when the card is purchased so that the the vendor is not charged anything at the time of payment.

This arrangement should be gladly acceptable to every one.

Now POS machines have become very affordable -less than  Rs.5000 - by any shop owner.
The whole scheme will work as shown below:

I am sure the day is not far as our country is full of financial geniuses.

For more FAQ watch this slideshare