| Author | Message | ||
Jujung Junior Artist Username: Jujung Post Number: 491 Registered: 02-2010 Posted From: 70.214.71.247 Rating: N/A |
The next steps after this will largely determine if it will just temporarily halt the black market economy or put further dent into it. considering the income base which actually pays the regular income tax is less than 5% in India, they should just abolish it and make it up in GST etc. That will encourage people to use the banks a lot more and help in the progress towards becoming a cashless economy. At the minimum, they should reduce it by a lot and thus increase the tax base to cover a larger percentage. But this would also need simplifying the returns process etc I suspect the current demonetization step will be a negative in the short term politically. So the success really depends on how much money they will give back to the poor. I thik instead of wasting the excess collections on misguided welfare schemes, they should directly transfer it to the bottom rung poor people's bank accounts. The folly of mistaking a paradox for a discovery, a metaphor for a proof, a torrent of verbiage for a spring of capital truths, and oneself for an oracle, is inborn in us.- Paul Valery | ||
Jujung Junior Artist Username: Jujung Post Number: 490 Registered: 02-2010 Posted From: 70.214.71.247 Rating: N/A |
https://www.hks.harvard.edu/centers/mrcbg/publications/awp/a wp52 Good case for eliminating high denomination notes. But India is still very far from becoming a largely cashless economy like the west. So changing the high denomination notes is the next best thing. But hopefully, this brings almost everyone into the banking system and prod the people to continue to keep the cash in the banks. The benefits go far beyond just a fairer tax distribution. cash in your pockets is useless to anyone till you spend it. But cash in banks will be in circulation through increased credit with lower rates and stimulate the market helping the legitimate businesses. Legitimate businesses also scale up much faster than those running on black money because of the wider credit access in the international markets. This is the biggest difference between third world economies and the credit based first world economies. Most of our wealth is lying as a waste in cash and gold under mattresses. Lot of wealth but still lot of poor people because of this. The folly of mistaking a paradox for a discovery, a metaphor for a proof, a torrent of verbiage for a spring of capital truths, and oneself for an oracle, is inborn in us.- Paul Valery | ||
Aggipidugu116 Side Hero Username: Aggipidugu116 Post Number: 2575 Registered: 07-2014 Posted From: 72.78.82.193 Rating: N/A |
When omerica cancelled silver dollar in some 1870's anukunta | ||
Whitecollar Comedian Username: Whitecollar Post Number: 1015 Registered: 03-2016 Posted From: 209.184.52.152 Rating: N/A |
India lo currency is still rupee OT garu.. Only thing is, few denominations are invalid.. | ||
Boston_baba Side Hero Username: Boston_baba Post Number: 8764 Registered: 07-2012 Posted From: 108.171.159.47 Rating: N/A |
africa, zimbabwe, ghana, india... hmmmm.... true fight of raviprakash and shivaji - https://www.facebook.com/PoliticalPunch.info/videos/14412902 02553832/ http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/tdp-claims-denied-by-its-own-budget/article6336996.ece 1991- AP debt 22% of GSDP, 2004 - 34% of GSDP, 2014 - 22% of GSDP. | ||
Maverick Legend Username: Maverick Post Number: 62423 Registered: 01-2008 Posted From: 108.171.129.188 Rating: |
bob ni mundu bokkalo veyyali ee chacchu idea icchinanduku wat say? Happy Vizag | ||
Onlytruth Legend Username: Onlytruth Post Number: 190518 Registered: 01-2007 Posted From: 107.77.89.130 Rating: N/A |
india = african economy chesina modi | ||
Siloan Legend Username: Siloan Post Number: 48459 Registered: 03-2008 Posted From: 132.174.20.41 Rating: N/A |
dhammulu rommulu kaavali HAIL anipinchukovaalante | ||
Gotcha Megastar Username: Gotcha Post Number: 26059 Registered: 02-2008 Posted From: 73.45.2.79 Rating: N/A |
Africa lo eppudu jarigede idi. Ghana lo happenedfew years back they brought newcurrency equating 1cd=1usd ayina malli within 2 years inflationto kindaki padipoyindi ... | ||
Onlytruth Legend Username: Onlytruth Post Number: 190516 Registered: 01-2007 Posted From: 107.77.89.130 Rating: N/A |
shame shame | ||
Savyasachi Comedian Username: Savyasachi Post Number: 1399 Registered: 12-2013 Posted From: 98.192.131.235 Rating: N/A |
zimbobwe | ||
Boston_baba Side Hero Username: Boston_baba Post Number: 8756 Registered: 07-2012 Posted From: 192.55.79.166 Rating: N/A |
anywhere in world... 85% above circulation lo unna currency, overnight invalidate chesina incident edaina undaa? 85% ante... almost 100%... so, overnight own currency ni invalidate chesina country unda? true fight of raviprakash and shivaji - https://www.facebook.com/PoliticalPunch.info/videos/14412902 02553832/ http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/tdp-claims-denied-by-its-own-budget/article6336996.ece 1991- AP debt 22% of GSDP, 2004 - 34% of GSDP, 2014 - 22% of GSDP. |
