The shock announcement by PM Modi on the 8th of December at 8 o clock has left India confused. Panick striken people are scrambling to the nearest bank/atm to widraw money or have their old notes exchanged. On the night of the “surgical strike” on black money, the lines at petrol pumps were enormous. Hundreds of people came and bought groceries and fuel worth thousands of rupees in a bid to finish of the stash lying at home. An average shop did twice the daily sale in about 2 hours and jewellers and luxury watch boutiques remained open well into the night to cater to “highend” customers looking to splurge their black money.
The fallouts have been enormous and the criticism too , but what the government has done is certainly bold and praiseworthy. And while many black money hoarders are having sleepless nights or rushing to Delhi to the Hawala operators,at this crucial juncture it is utmost important that the honest tax paying citizen stands by the government to clean up the system rotting for the last 70 years . The benefits are tremendous and we attempt to explain the same below through some real life scenarios:
1. Surgical Strike on Pollution
Those mindlessly bursting firecrackers during Diwali and other festivals ,most of that money was black. Lets face it we don’t buy crackers with a debit or credit card ,least of all go to a bank to widraw money for the same.I know of people who used to get suitcases full of crackers to blow up, simply because it wasn’t really earned but needed to be spent!
2. Surgical Stike on illegal Construction
It is no secret that majority of black money is in real estate . Those builders cutting forests and encroaching upon the last available inch of land, all needed an outlet to legalize their black money , so they go on building , because the more cash you have the more you need to build !
3. Surgical Strike on Terrorism
Those stone pelters in Kashmir being paid Rs 500-1000 for throwing stones, or the counterfeit notes and drugs coming from the other side of the border ,or be it trafficking of labour from Nepal or Bangladesh , all that stops immediately as no one will be willing to accept money in cash ! This is a death knell for terror financing.
4. Surgical Strike on Alcoholism
When you do have such a lot of money stashed in your home or locker, what you would normally do is to drink and party it away , because well you don’t need to earn it,you only need to blow it away ! The youth will now realise the value of money and think of ways to earn and grow it , rather than an obnoxious displays of wealth and all this will benefit the country.
5. Surgical Strike on Inflation
With the money supply increasing in the banking sector , the excess and hidden purchasing power which was unaccounted for will reduce, thus bringing down prices of commodities as well as real estate , all for the benefit of the “aam aadmi”
6. Surgical Strike on Dirty Politics
We all know how elections are fought in this country. Lakhs of rupees is spent at the level of Corporation elections and crores at the State level , 90% of which is black. Now overnight all that money is paper. This will help cleanse the political system and encourage better and honest people to enter politics and improve the functioning of democracy.
7. Surgical Strike on Bribes
You wont be harassed to cough up a 500 or a 1000 rupee note, when you see a traffic cop or when you call a policemen for help ! None of them will want to accept cash with the fear of being caught. People and officials will follow the rules and the law without any external influece.
8. Surgical Strike on High Taxes and Lending Rates
With more money in the Government coffers and with the tax base widening , the burden of paying taxes which at the moment falls on a small percentage of honest citizens will spread to more people which will reduce the per capita tax outgo in the long run.Also interest rates of capital will come down thereby allowing consumers and companies alike to borrow more at cheaper rates which will drive the GDP and help the economy grow.
9. Surgical Strike on Crime
With less cash In circulation, there will be less incentive to steal and kidnap for ransom ,bringing down the crime rates drastically !
10. Surgical Stike on Pseudo Elite
And lastly this a massive blow to all those so called Pseudo “elite” class who had an endless supply of money to buy the latest , the biggest , the grandest , the keeping up with the “jonses” kind of people , who will now work hard to save and earn money for the welfare of the nation rather than keeping up their larger than life lifestyles by hiding income!
I fully support the PM in this fight against corruption and black money.Mr Modi is not the Prime Minister we deserve but the Prime Minister we definitely need! If we expect our soldiers to die for the country at the border, is it asking too much, if we have to stand in a que for a few hours, for a better future ??
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