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

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Saturday 3 December 2016

Prime Minister Who Listens


Some may call him " inscrutable "


Till 2 days back , Shri Modiji was warning poor Jan Dhan account holders not to allow Black Money holders to use their accounts as some kind of a " Magic Hat " , where you put in OLD notes and , after a few weeks , pull out brand NEW notes !


He was warning Jan Dhan account holders with dire consequences ( 7 year prison ) , if they turned themselves into BENAMI account holders for Black Money owners


Following figures ( Nov 09 - Nov 30 ) , were enough evidence to suspect that this had happened :


*  ZERO balance Accounts went down by............... 4  lakh

*  Total No of accounts went up by...................... 27  lakh ( to reach 25.78 crore )

*  Total Deposits went up by......................Rs 28,685  Crore ( to reach Rs 74,322 cr )


He repeatedly said : IT / ED will keep a sharp eye on those account holders who withdraw their entire deposit within 3 / 4 weeks ( ostensibly , to return the WHITE cash to the original Black Money owners , after deducting their 30 % " commission " )


Such sudden / total withdrawals would enable IT / ED to track down those original Black Money owners and raid them ( of course , poor Jan Dhan account holders would cooperate and reveal such information , when promised " pardon " ! )


Given this simple-sounding logic, it came as a surprise to all that RBI imposed restrictions on withdrawals from these accounts at Rs 5000 and Rs 10,000 per month !


No sudden withdrawals ?  A lost opportunity to catch those culprits ?  What is going on  ?


Then speaking at a rally in Moradabad yesterday , Shri Modiji said :


" I want to tell holders of Jan Dhan accounts , they should neither withdraw nor return this money .

Write to me if someone intimidates you .

The Centre is thinking of how to utilize this money for the poor .... I am thinking hard..... racking my brains to figure out how it ( the money ) can be yours "


Dear Shri Narendrabhai :


In your process of " racking your brains to figure out " , I request you to refer to my following suggestions for your next MASTER  STROKE :

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#  E mail dt 05 Jan 2016 ( Fear of Being Ridiculed ? ) :


     *  No questions ( as to the Source ) for cash deposited in Jan Dhan Bank Accounts (
        Permanent  Unlimited Amnesty  )

    *  FD Interest / Dividends from Infra Bonds / SPVs to be credited to Jan Dhan A/cs


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#  E mail dt 30 Jan 2016 ( Structural Reforms ? )


    *  Perpetual Amnesty Scheme ( no questions asked as to the source for CASH deposits in

       Jan Dhan Accounts , if funds from these Accounts are invested in Govt

     approved INFRASTRUCTURE SPVs  )


        

      So far , Rs 30,000 Crores have been deposited in Jan Dhan Accounts . With introduction

     of this REFORM , that figure will rise a thousand times to Rs 30,000,000 Crores , within

     one year  !

   
    These investments will generate 10 million jobs each year and raise our GDP to 10 % in

    2016-17 ! 


   *  Transferring 10% of GST ( ie 1.8 % out of 18 % ) to PPF accounts of the buyers (

      increase Domestic Savings )

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#  E mail dt 01 Oct 2015 ( From  Greed  to  Great  )


*    Stop asking any questions as to the " Source " for all cash deposits 
      made into bank accounts opened under Jan Dhan Yojana

*    Encourage deposits made into Jan Dhan bank accounts to be invested in
      SOLAR POWER SPV Farms , by direct depositing of income derived ( from sale of

      electricity to DISCOMs ) into those bank accounts

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#  E mail dt 28 Feb 2016 ( Don't Expect This in Budget ! )



*  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 ! 

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#  E mail  dt  03 June 2014 ( White Holes of Black Money ? )


INVERSE  TAXATION   REGIME



    Where one pays DECREASING , incremental  tax , with each higher slab of
    income. This will encourage full declaration of all income and remove 
    incentive to hide income . People will insist upon receiving all payments 
    by cheques . 

    " Reverse  Hawaala " system ( converting black money to white
    money ) will , soon eliminate parallel economy  !



AMNESTY  SCHEME


    Where no questions will be asked as to the source of declared black 
    money , if that money is invested in Government-Approved Infrastructure 
    SPVs .

    Dividends / interests from such investments will be free from Income Tax for 15 years .

   
    Infrastructure should also include , Education, Health-care , Sanitation etc


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

Dear Shri Narendrabhai :


I repeat my earlier request to give me 20 minutes of your precious time to answer any questions that you may have with regards to my suggestions


with regards,

hemendra parekh

04 Dec 2016

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www.hemenparekh.in / blogs
   
 


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