WOW!
REALLY?
GIMMICK?
Well being cynical and skeptical is very much an intellectual activity ! I never had courage to deny it! But sometimes I love fairy tales and willingly suspend disbelief!
The honourable prime minister of India, Sri Narendra Modi, has declared that the existing ₹ 500 and ₹ 1000 in circulation shall cease to have any value from midnight. Hence all the people in possession of these currency notes must deposit them with the banks or post offices and get other currencies in exchange. The banks shall reportedly remain closed for two consecutive days to adequately prepare themselves to absorb all these notes in circulation. The banks and other empowered agencies shall start accepting these notes from 10th of November till December 30th.
Now! What shall happen ? There is already a declared amount of around 64,000 crores this September.
Long term implications?
It shall be a big damn positive !!!
But the skeptic always doubt!
Yes the really big leviathan's are beyond control ,depositing their wealth in the tax havens.
Switzerland is an old story now!!!
What shall happen when this comes to play?
1. people panic.
2. the stock markets panic.
3. People with undeclared currency notes panic.
4. Hawala doesn't!
5. Gold merchants don't!
6.Leviathans don't!!
7. We don't have to pay taxes for 20 long years!!!
We have 20% to 30% of a nearly unbelievable amount , may be amounting to a trillion or trillions sufficient to erase any fiscal deficit for next two decades.
The taxes collected on the forced declaration of currencies shall indeed be a high cheer for the foreign investors. And it shall make India ,the country,\ with maximum investor's confidence.
Bit once beaten ,twice shy!
Shall it happen?
Shall the senior citizens be spared of the burden of unnecessary taxes?
Only this end of the fiscal year and the budget shall say!!!
REALLY?
GIMMICK?
Well being cynical and skeptical is very much an intellectual activity ! I never had courage to deny it! But sometimes I love fairy tales and willingly suspend disbelief!
The honourable prime minister of India, Sri Narendra Modi, has declared that the existing ₹ 500 and ₹ 1000 in circulation shall cease to have any value from midnight. Hence all the people in possession of these currency notes must deposit them with the banks or post offices and get other currencies in exchange. The banks shall reportedly remain closed for two consecutive days to adequately prepare themselves to absorb all these notes in circulation. The banks and other empowered agencies shall start accepting these notes from 10th of November till December 30th.
Now! What shall happen ? There is already a declared amount of around 64,000 crores this September.
Long term implications?
It shall be a big damn positive !!!
But the skeptic always doubt!
Yes the really big leviathan's are beyond control ,depositing their wealth in the tax havens.
Switzerland is an old story now!!!
What shall happen when this comes to play?
1. people panic.
2. the stock markets panic.
3. People with undeclared currency notes panic.
4. Hawala doesn't!
5. Gold merchants don't!
6.Leviathans don't!!
7. We don't have to pay taxes for 20 long years!!!
We have 20% to 30% of a nearly unbelievable amount , may be amounting to a trillion or trillions sufficient to erase any fiscal deficit for next two decades.
The taxes collected on the forced declaration of currencies shall indeed be a high cheer for the foreign investors. And it shall make India ,the country,\ with maximum investor's confidence.
Bit once beaten ,twice shy!
Shall it happen?
Shall the senior citizens be spared of the burden of unnecessary taxes?
Only this end of the fiscal year and the budget shall say!!!
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