Hats off to the Prime Minister of India Mr.Narendra Modi.. This is called Master secret plan and well executed long term plan.. I can feel the sequence of the steps the government took care to execute this master plan, Check mate for the population who has hidden black money..
- Changes in Bank Deposits like people need to produce PAN, if they deposit more than 50K.
- Everyone should have bank account.
- To enforce #2, making the basic necessity of LPG's subsidiary to go in to your bank account, which enforced further more people to create a bank account. But may not be every citizen though!!
- We must have heard the same topic from many general discussions from Mass Media and Social Media, about making no tender for big denomination currencies, but no one thought this would have been announced so quickly.
- All of a sudden very polite announcement from government(May be shocking for many!!) saying INR denominations ₹500 & ₹1000 cannot be used and have to be exchanged before end of Dec 31st.
- Also, see the apt time they announced this, exactly the day of Election in America, may or may not be related? I am hoping Mr. Modi ji government might've sensed that America will be Trumped sooner than later, Share markets may crash and $ value may fall. Well this situation is very favor for people hiding black money who can exchange their black money against $'s so that they can get more, which is impossible now!
Some of you may think this is just 40% well rest of the 60% may already converted in to $'s, £'s or €'s and kept safe in foreign banks.. The best plan to make this money unusable is strict rules and traditional methods in Swiss banks and other banks where all this money form the accounts can be withdrawn with very less daily limit basis, also the person belongs to the account should come to the bank and produce a check with self-signed to withdraw the money.. So that before the person can withdraw all the money he/she may become very old and die or become tired of doing this, this is somehow a psychological punishment to the people who involved in this Black Money/Economy.
I may be talking too much. But the same feeling must have there in every Indian citizen's mind who is not part of this Black Money/Economy :-), but only thing is not everybody know how to express started talking about the same topic and how this is going to help Indian this. However we have been already seeing in Social Media where many people economy?
Please do not complain about the difficulties we may face due to this, the inconvinience was well regreted by Prime Minister. Think few minutes to oversee the effect of this and how we can help stop the Black Money/Economy completely.
**** Perfect check mate for the Black Money/Economy..! ****
- I am sorry! If this article hurts someone reading..
Enjoy Reading..
- Karthik Rajasekaran