Case for demonetisation of thousand rupee notes
In the Tamil Nadu state election, it is reported that several crores of rupees of cash have been freely circulating in the state, which are being distributed by political parties to bribe the voters . Many people believe that such information appearing in the media are true and factual.
While Election Commission is unable to tackle this cash distribution menace during the elections as it appears to lack the will to do so and is functioning more as routine administrative body rather than as constitutional body with powers and responsibility to conduct free and fair election, the ground reality is that such very large amount of cash is in circulation.
Obviously, such cash are generated as black money and political parties collect such cash from industries and other sources by coercion, threat or extending favouritism for bribing the voters during election period.
There are also rumours that large amount of counterfeit notes may also be in circulation.
Such black money in circulation is causing havoc to the national economy, boosting the real estate price and causing several other adverse developments.
While the government of India is trying to bring out black money by announcing amnesty schemes etc. and conducting raids which yield very limited results, the best way to bring out the black money is to immediately demonetize thousand rupee notes.
This will have immediate and telling effect on the circulation of black money and catching the corrupt people, that would considerably help in reducing the cost of living index.
It is not clear as to why government of India is not adopting such simple solution . Is it possible that just like Election Commission, government of India also lack the will ?
N.S.Venkataraman
Nandini Voice For The Deprived
nandinivoice.com more
While Election Commission is unable to tackle this cash distribution menace during the elections as it appears to lack the will to do so and is functioning more as routine administrative body rather than as constitutional body with powers and responsibility to conduct free and fair election, the ground reality is that such very large amount of cash is in circulation.
Obviously, such cash are generated as black money and political parties collect such cash from industries and other sources by coercion, threat or extending favouritism for bribing the voters during election period.
There are also rumours that large amount of counterfeit notes may also be in circulation.
Such black money in circulation is causing havoc to the national economy, boosting the real estate price and causing several other adverse developments.
While the government of India is trying to bring out black money by announcing amnesty schemes etc. and conducting raids which yield very limited results, the best way to bring out the black money is to immediately demonetize thousand rupee notes.
This will have immediate and telling effect on the circulation of black money and catching the corrupt people, that would considerably help in reducing the cost of living index.
It is not clear as to why government of India is not adopting such simple solution . Is it possible that just like Election Commission, government of India also lack the will ?
N.S.Venkataraman
Nandini Voice For The Deprived
nandinivoice.com more
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@Ravi Padmanabhan: Good suggestion. Many currencies (Canada, Australia for example) have switched to polymer currencies. However special measures are needed to avoid counterfeiting. Perhaps RBI can think of issuing currency based on block chain technologies in future. As such Bitcoins are not something I would trust but a government backed effort will be better while making it easy for the government to monitor large transactions just as in the case of bank accounts. more
May 16
Then Net banking also created lots of heavy transactions without bringing money in notes. But net banking cannot be stopped?? more
May 16
As per 3 days back T. V. News that never appeared later , Bulk & Huge amounts of 570 Crores and ; 190 Crores Currency was Seized by the Election Team and that the police started investigation about the identification of the Origin and purpose . None of the such Cases in the last 20 years and even before , were finalized ARRESTING THE PERSONS ; IMPRISONING THE CONCERNED ; DISQUALIFYING THE CONCERNED CONTESTANTS FOR 11 YEARS ; AND ; TO BLACKLIST THAT POLITICAL PARTY WITH A FIRST WARNING TO CANCEL THEIR AND THEIR PROMOTERS , LEADERS ON THE 4th HAPPENING OF SUCH . This is the Piety in Indian Constitutional Rule and the ill-full Political Democracy that was set with Supreme Authority of the Rule . THIS REALLY TENDERS A SEPARATE AND ABSOLUTELY POWERFUL CONSTITUTIONAL BENCH OF THE SUPREME COURT TO ACT ON THE CARRY OF THE CONSTITUTION IN INDIA . more
May 16
@ G Vijayaraghavan: High quality FICN comes from Pakistan through the Mafia route across Bangladesh border. Locals too do exist. Banks can't fight the Mafia, and Police-politician-mafia nexus wont go on a self destructive spree. PM could solve it but he seems too busy... more
May 16
If the system of US can be followed like restricting the highest denomination to ₹.100 will minimise the corruption. For this the banking operations has to improve manifold. Then it is possible. more
May 15
