Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Monday, 12 December 2016

Conundrum ? Chaos ? Catastrophe ? Cataclysm ?



With 32 days down , leaving only 18 to go ( from those 50 days in which Shri Narendra Modiji had envisaged a " Changed India " , and barely any sign of that change  ) , it is but natural that the concerned Ministries / Agencies / RBI / Public Sector Banks etc , are having a  PANIC ATTACK  !


SYMPTOMS of ATTACK :

*  Frequent extensions of deadlines for acceptance of OLD notes by various agencies

*  Making many services FREE from payments ( Govt to pick up the tab ? )

*  Making banks work on week-ends / holidays

*  Making Cash Distributing Agencies / Notes printing presses, to work around the clock

*  Ordering ONE BILLION  plastic notes of Rs 10 denominations

*  Appointing a Committee of Chief Ministers to suggest ways for going CASH LESS

*  Introducing prizes / awards for DIGITAL PAYMENTS , to panchayats

*  Conducting classes for educating Government Officers in DIGITAL PAYMENTS

*  Launching exclusive TV channel / Help Line for helping citizens to go digital

*  Launching ( perpetual ? ) AMNESTY SCHEME in the guise of IT Act Amendments

*  Planning " Tax Incentives " for Buyers making DIGITAL PAYMENTS

*  Planning " Incentives " for Merchants accepting digital payments

*  Considering introduction of " Jan Dhan Yojana " like scheme for users in Rural / Semi
   Urban areas , who use Credit / Debit cards

*  Government ordering TEN LAKH Card Swipe machines for delivery in 100 days

*  NABARD ordering TWO LAKH , Point of Use machines ( for Rs 6,000 each ), for giving
   FREE , for use by 2 shops , in one lakh towns of 10,000 people or less

*  Offering tiny discounts on purchase of petrol / diesel / Life Insurance etc

*  Offering Credit / Debit cards to farmers for buying seeds / fertilizers etc

*  Imposing limits on weekly withdrawals of cash from Jan Dhan accounts


By no means , this is a comprehensive list

And be rest assured that there will be 18 new / additional announcements in the remaining 18 days !


WAS  ALL  OF  THESE  AVOIDABLE  ?

May be not ALL,  but certainly MOST what is causing hardships to common man , was avoidable


IS  A  ROLL  BACK   POSSIBLE  ?

Short answer :  NO

Long answer  :  You just cannot " Unscramble , a scrambled Egg " !


WILL  ALL OF  THIS  SUFFERING  ELIMINATE CORRUPTION ?

Yesterday , I heard of the seemingly strange case of an IT officer " offering " bribe to a businessman , instead of " demanding " it !

He told this businessman :

" I will OK your tax return without disallowing any expenses , if you give me ONE new note of Rs 2000 / - in return for ACCEPTING my 5 OLD notes of Rs 500 each , and obliging me "

May be this " innovation " was not envisaged by the authors of Demonetization !

Already , raids by ED all over the country, are finding hoards of NEW notes of Rs 2000 , which are slimmer / lighter and easier to carry ! Soon, it will be " back to square one " !


IS   IT  TOO  LATE  TO  SALVAGE  THE  SITUATION ?

No !

In our population of 1300 million , may be 1.3 million had huge amounts of unaccounted / untaxed cash in Rs 500 / 1000 notes, totally disproportionate to their known sources of income - and hidden in home cabinets or bank lockers .


For the rest, those few high denomination notes were strictly " in proportion " to their known sources of income . There was no need to harass these people , in order to locate those few / hidden / huge bundles of illegal cash


But sudden / abrupt " demonetization " caused just that harassment !


All that was required was a slow / gradual " replacement " of OLD notes with NEW notes , over an overlap period of 6 months - except that those NEW notes would be embedded with RFID chips !


Ordinary / honest / tax-paying / law abiding citizens would not have even raised an eye-brow with such a technological " intervention "


If anything , they would have welcomed it since that would have allowed them to continue buying their vegetables / groceries / bus tickets , without having to queue up in front of ATM machines !


It is still possible, not merely to " salvage " this " operation gone bad ", but permanently eliminate the twin menaces of CORRUPTION and BLACK MONEY generation, by embedding high denomination currency notes , with RFID micro-sensors !


I have sent my proposal ( Embrace the Inevitable ), to NDA Ministers / Secretaries , on 13 Nov 2016

 { myblogepage.blogspot.in/2016/11/embrace-inevitable.html   }


I am sure our Policy Makers are not so naive as to believe that human greed can be wished away by a " dictate " !


Neither Communism , nor Socialism , nor Capitalism has ever succeeded in conquering greed , anywhere in the World .


Did they really believe that those 1.3 million BLACK MONEY holders will come forward and declare their ill-gotten wealth , through persuasion ?


And , did they really believe that , even if they did so NOW ( to escape jail ) , they will not start , all over again , as soon as sufficient numbers of Rs 2,000 notes became available ?


For an answer  , do read... " Fear works better than Persuasion " ( 10 Oct 2016 ) , 

{  http://myblogepage.blogspot.in/2016/10/fear-works-better-than-persuation.html }


Implementing my suggestion at this stage , cannot erase / reverse, the hardships suffered by common men - and the damage inflicted on the economy ,

BUT

It will ensure that ,

*  The country stops sinking into what is turning out to be an ECONOMIC QUICK SAND

*  Shri Modi is able to restore the CONFIDENCE that poor Indians have placed in him

*  BJP does not lose those 5 State Elections coming up in the next 12 months

CORRUPTION / BLACK MONEY , are permanently eliminated !


If  Caesar  chooses to ignore this " Beware of the Ides of March " , the ominous writing is on the Wall !


Time is running out !


-------------------------------------------------------------------------------------------------------

13  Dec  2016

www.hemenparekh.in / blogs

  










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