This year could be called as the year of surgical strikes. It all stated 2 months back when the Indian army crossed LoC and demolished the Pakistani terror camps. It was called the most daring act by the Indian army. The whole nation appreciated the bravery of our men and the bold decision of the government.
Just 2 months after the external strike, Modi again launched surgical strike, but not outside but inside India to target the black money hoarders, who can also be called INDIRECT TERROR SUPPORTERS. This was the most historic statement ever made by any Prime Minister. Narendra Modi sent tremors by announcing the demonetization of old notes. This has not only cleared the huge mess of black money but has brought enormous amount of stacked money into circulation. This major step of demonetization really brought cheers and happiness to people since it assured that all corrupts will face the heat. The only talk we hear today in every ATM, bus stand, railways, taxis, autos is the appreciation towards the Prime Minister.
Yes, that is the impact of Modi’s announcement!
But there are always few clever and smart people who would definitely slip away from the clutches of the LAW! They know every means to escape. Most people who indulge in corruption do not keep black money, but they would rather invest it on properties. These people pay most in black money and evade tax amount. There are various examples of how politicians, real estate people and businessmen use black money to buy huge properties and get rid of their illegal money.
Take an example of people accused in 2G, CWG…Do you think these people would stack up the huge amount in their rooms…No! Mostly these people make sure that they get rid of the money by transferring it in other names or buy properties in BENAMI names. This is a massive racket which leads to unprecedented rise in land rates. Exactly why middle class people find it extremely difficult to buy properties. This not only causes black money racket, but it collapses the economy of the country.
Most of our politicians own various lands, estates, industries, factories in India, they also own luxurious flats, mansions outside India. So where do these people get money from?? Is it their ancestral property? Robert Vadra who company did not worth 5 crores when he started, but just after 5 years has made a profit of 600%.
Mallikarjun Kharge, congress leader own complex in Bannergatta (Forest area) worth 500 crore, 300 acres in Chikmagalur worth Rs 1,000 crore, 17 acre land on Bellary Road, Kengeri farmhouse of 40 acres, house worth Rs 50 crore in native, property near M S Ramaiah college in Bengaluru worth Rs 25 crore, three-storey building in Indira Nagar and two houses in Sadashivanagar, Bangalore….Ufff! So who gave him the money for all this??
If one can remember, Janardana Reddy, of BSR Congress a mining baron who got arrested for illegal mining scandal in Bellary owned so much undeclared assets that it took the income tax department almost a month to identify all his illegal property. It is well known that most Indian politicians join politics to make money and enjoy power.
So the only way to stop this illegal stacking of black money is by making all money transactions completely electronic. Not to forget we are in 21st century and if a small vegetable vendor can learn to use a smart phone, can he not learn to use electronic transaction?? Will he not learn how to use debit card? Of course he can.
If we consider the statistics of few developed countries like Belgium, France and United Kingdom we will notice that 90% of their business stands on electronic transactions. But you will be shocked to know that in India, the biggest democracy and the fastest growing economic country, only 6% of the business takes place through electronic transaction. The rest 84% of business in India is by hard cash.
Yes….this is where we lack as a digital country. When Modi started the most ambitious mission of Digital India, he did not do it for the sake of Photo-op. The main idea was to make Indian economy free of cash and depend on electronic transaction.
For example in developed countries, you may have noticed that almost all shops (small and big) will have an electronic card swiping mission, people hardly use cash. It may be 1 or 2 dollars, they still pay in card. This eliminates 90% of illegal trade. Most of us may have experienced that shop vendors asking whether we want BILL for the purchase, to save little money we may have said NO…But this would have huge implication on our country. Remember the illegal trade will facilitate corruption and black money which will indirectly help terrorists and anti social elements.
The government can take initiatives to give card swiping machines for low rates for every small scale businessmen. The government can issue money wallets cards and people do not have to carry cash. It just works like you Paytm wallet.
So if India can increase the use of cashless transaction from 6% to atleast 50%, it will have huge positive effect on Indian economy. Once the corruption and illegal trade is reduced the rupee value will grow huge in the global market.
And henceforth it is very much necessary that the government should take strong action against those people who own wealth beyond their earning capacity. Narendra Modi who conducted surgical strikes to eliminate black money, should probably perform the next surgical strike on these people. Reports have suggested he is seriously thinking on how to tackle these undeclared properties. All the undeclared assets should be ceased and taken as government property. Believe me, more than half the politicians, babus and businessmen will be caught in the net.