Sunday, 28 February 2016

Don't Expect This in Budget




Don't expect my following suggestion to figure in the Budget speech which, Shri Jaitleyji will read in Lok Sabha , a few hours from now

 
But then it does not have to be !


First break the unwritten rule :  " If a reform was not announced in Budget , then it cannot be implemented "


My suggestion is about ATM V 2.0


Many decades ago , ATM were first introduced in America when banks found long lines of customers waiting to withdraw cash at the CASH COUNTER


In America , cashiers are called TELLERS . So these CASH DISPENSING machines came to be called AUTOMATIC TELLER MACHINE ( ATM )


In India , we call these ANY  TIME ( cash ) MACHINE , which give out cash upon

*  entering a few  details / code numbers into ATM screen

*  amount of cash you want to withdraw  and

*  inserting your ATM Card in the machine


ATM prints out a slip of paper incorporating full details of the transaction / customer name etc


I believe , nowadays , any ATM accepts ATM card issued by any bank , so you need not worry to find a ATM belonging to YOUR bank ( where you have YOUR bank account )


MY  SUGGESTION  :


*  Come out with ATM V 2.0 ( call it , " Automatic Taker Machine " ? )

*  Install one in every bank branch and at 145,000 post offices ( India Post's Payment Banks )

*  ATM V 2.0 does  NOT  " dispense" cash . It only " accepts " cash  !

*  Cash depositor will enter personal details ( Aadhar No / Jan Dhan Bank A/C No etc ) and amount being deposited

*  ATM V 2.0 will count the cash ( much like currently used CASH COUNTERS at most bank branches )

*  It will print out a RECEIPT , giving full details

*  All ATMs ( V 2.0 ) will be inter-connected in a Network having a CENTRAL server

*  All cash deposited ( by every user ) will be used for Infrastructure SPV

*  Depositor will earn annual interest @ 5 % on CASH deposited ( Receipt wise )

*  Cash Receipts can be en-cashed upon maturity of 10 years ( like FIXED DEPOSIT receipts )

*  Interest will be TAX FREE and get directly deposited in depositor's Jan Dhan Bank A/c

*  No questions ( as to the source of the cash deposited ) will be asked ( Perpetual Amnesty Scheme )



I understand , Jan Dhan Yojana managed to garner deposits of approx Rs 30 thousand crores in 18 months

ATM V 2.0 , will bring back those Rs 34.4 lakh*crores of undisclosed assets that are lying in foreign banks ,

AND

Rs 340 lakh*crores of unaccounted BLACK MONEY lying in domestic bank lockers ( or locked up as gold / land )


In deep space , there are BLACK HOLES which suck in all matter . Even light cannot escape from a black hole

ATM V 2.0 will be our WHITE HOLES which will suck in all black money Indians have stashed anywhere  !

Let us use this INNOVATION , which is simply re-configuring  well-established and straight forward HW / SW !



Dear Shri Jaitleyji ,


There is no need to worry about how to raise revenue to fund those Infrastructure Projects to generate jobs


No need to widen tax net ( from 4 % to 23 % ) or borrow money from market or abroad

No need to announce in your budget speech this morning  ! No passing of any BILL in Rajya Sabha !


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hemenparekh.in / blogs

29  Feb  2016

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Make    Yourself    Heard

Dear Visitor :

It is time for YOU to speak up - and demand that YOU are heard

By emailing this suggestion - incorporating your OWN improvements - to the following Policy Makers

(  Just multiple copy all the following Email IDs into the Recipient column of your Outlook and Copy / paste this suggestion in the Message Box ) :


    narendramodi1234@gmail.com; 38ashokroad@gmail.com;ajaitley@del5.vsnl.net.in; jayant.sinha19@sansad.nic.in;piyush.goyal@gov.in;nitin.gadkari@nic.in; spprabhu1@rediffmail.com;bandaru@sansad.nic.in;smritizirani@nic.in;nsitharaman@nic.in; ravis@sansad.nic.in;sureshprabhu@irctc.co.in;prakash.j@sansad.nic.in;secy-ipp@nic.in; amitabh.kant@nic.in; shaktikanta.das@nic.in; rsecy@nic.in; adhia1981@gmail.com; ceo-niti@nic.in; atul-chaturvedi@nic.in; uma.bharati@sansad.nic.in; d.pradhan@sansad.nic.in; rprudy.office@gmail.com; rudypr@rediffmail.com; eam@mea.gov.in; mosvks@mea.gov.in; mvnaidu@sansad.nic.in; mnaqvi@sansad.nic.in; rao.inderjit@sansad.nic.in; mljoffice@gov.in; sadananda.gowda@sansad.nic.in; ministerminority@gov.in; najmah@sansad.nic.in; minister-ca@nic.in; ramvilas.paswan@sansad.nic.in; gandhim@sansad.nic.in; akumar-alpha@sansad.nic.in; jpnadda@sansad.nic.in; hm.moca@nic.in; geete@sansad.nic.in; simratbadal@yahoo.com; ns.tomar@nic.in; rmsingh@sansad.nic.in; tc.gehlot@sansad.nic.in; dr.harshvardhan@sansad.nic.in   


     





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