BLACK MONEY CAN BE REDUCED TO ZERO BY DEBIT CARD WITHOUT PAPER CURRENCY
Read - Debit Card without Paper Currency concept
http://dc-pc.blogpsot.com
What is the black money?
Black money can be defined as money from tax evasion or illegal activities or black economy. For example, 50 lakh rupees donation for a medical seat, reduced value registration of land and buildings, profits from a business operations without paying taxes, smuggling activities to sell at reduced price for gold or imported articles, doing illegal activities to sell at higher price like arms, guns, drugs, mining, etc without getting licenses from the government, bribes and illegal dealing of business people, top officials, government officers, employees, politicians, goondas, mafias, cinema field people, print and electronic media people, many more persons from all walks of life related to black economy.
Causes of Black Money
1. Complex tax structure for selling/buying of goods, services and articles.
2. Intensity of registration by state and central governments mainly real estate sector
3. Inefficient and less staff Income Tax and Other tax/revenue departments and corrupted departments to monitor the activities
4. Less morale of business people and others to pay taxes to the government
5. Corrupt bureaucrats and politicians and businessmen who are encouraging black money
Consequences of Black Money
1. Decrease in tax revenue to the government, as a result, government will increase taxes on goods and services and finally people will suffer tax burden with high taxes enforced by the government.
2. Decrease in Quality and Quantity of public goods and services, for example – Lux soap will be reduced from 100 grams to 93 grams without changing price, quality of goods like water quality from corporation will be reduced without putting florin and that causes diseases to the people. You can add many examples to this issue.
3. Higher taxes and Inflation – Since people have to pay more money to same goods and services and it leads more inflation. As a result, people will get less quantity and less quality goods and services for the same price which they are paying earlier.
4. Difficulty in monetary and fiscal policy formation – government faces difficulty in the formulation of these policies since they do not know volume of black money generated in the country.
5. Increase in criminal activities – if government is not able to control these criminal activities, there is a big chance of increase in criminal activities and it leads to question mark to the safety of people and country as a whole.
CURRENT MEASURES FOR PREVENTION OF BLACK MONEY
1. Amnesty schemes (VDIS) – people voluntarily disclose their incomes after special schemes announced by the government.
2. Demonetizing higher denomination currency – for example, ban on Rs.1000 note and Rs.500 note
3. Special Bonds like infrastructure bonds
4. Converting Black money into White - Mauritius route is a channel to evade paying taxes in India amounting to thousands of crores of rupees with the help of loopholes in a bilateral agreement on double taxation
AFTER IMPLEMENTATION OF DEBIT CARD WITHOUT PAPER CURRENCY
Black money will be reduced to Zero since there is no paper currency and cash transactions and all transactions are accounted with bank. These accounted transactions are available at any time or later date. There will not be any tax evasion from any businessmen since it is accounted. There is no chance to get illegal money or illegal money from anyone after the implementation of debit card without paper currency.
1. Donation for medical seat is not possible – government may legalize this donations as building donations or other donations by fixing rate for this from the students for real causes which are doing by management of these colleges and universities
2. Bribes are not possible for any person like government employee, politician, businessman, or any other person, as a result, black money will greatly reduced to zero.
3. Government will simplify the rules and regulations for uniform taxation, this will be greatly help to the business people for not avoiding taxes.
4. Morale of businessmen will be increased in many folds since each and everything is accounted with bank, more taxes will be paid to the government. It leads to promote the same business in the form of incentives, cash credits, duty drawbacks, many promotional measures to promote the same business by the government.
5. Efficiency of IT departments will be increased and corruption will not be there in these departments after the implementation of Debit Card without Paper currency. Accounted transactions are available at any time with the bank and departments will become more efficient and monitor all transactions easily.
6. Increased tax revenue and income to the state and central governments will create more jobs. Social evils like dowry, bribes, etc will be removed from the society and it boosts more morale and good social values in the society. As a result, Illegal activities will be decreased to zero and those who are involved in these activities will get jobs and work for their livelihood. This societal move protects the safety of people and country, as a result, law and order will be maintained efficiently.
Friday, November 11, 2011
Thursday, November 10, 2011
CRORES OF JOBS CAN BE CREATED BY DEBIT CARD WITHOUT PAPER CURRENCY
CRORES OF JOBS CAN BE CREATED BY DEBIT CARD WITHOUT PAPER CURRENCY
Read Debit Card without Paper Currency concept
http://dc-pc.blogpsot.com
After implementation of Debit Card without Paper Currency, Central and State Governments will get more tax revenues than earlier ones. The excess money of these budgets should be used to start new industries and creation of jobs.
The main resource of money will be come from the excess budgets of Central and State Governments. The men, materials and machines can be added to create jobs in creation of more big establishments by the government.
Generally government expects foreign direct investment from other countries to start new establishments since local money and expertise are not available inside the country. Government issues licenses, permissions and others like getting land acquisition, electricity, water, construction of buildings, procurement of machines and materials, recruiting personnel, etc, to the foreigners to start industry in the country. At present getting these licenses and permissions are time consuming ones for foreigner and he will seek local partner for these transactions. There is no single window procedure for these transactions.
After getting excess money from the surplus budgets, Government has to create a Rolling Fund (Say -Industry Employment Creation Fund) for establishing industries i.e. Government will establish industries and sell to the private parties or make it public/private limited companies and get back money with reasonable profits or interest on investment. Here the Government is the Promoter for starting industry and creation of jobs.
SINGLE WINDOW PROCEDURE FOR STARTING INDUSTRIES
Licenses and permissions and many things which are related to government side, can be exempted by the government since it is started by government. There are no permissions and licenses required for starting industries or big establishments to create jobs.
Government will start industries with very great ease since there are no struggle for licenses and permissions. Single window procedure for starting industries will help in creation of establishments. If single window has given permission to the industry, Central and State and Local government has to agree and bind by this single window procedure permission to give all kinds of facilities, sanctions, permits, licenses, approvals, etc. There should not be any delay from these governmental departments. There should not be any delay and it should be given within 24-72 hours of time since all permissions and licenses exempted and at a time approved.
EXECUTION OF STARTING ESTABLISHMENTS
There are no struggles of permits, licenses and others since it is started by the government, Government can smooth sail to start industry. For this expert and talent persons can be recruited on contract basis. These experts will start the work for establishing the industry by doing land usage, building construction, erecting machines, many things which are involved in starting the industry.
CREATION OF EMPLOYMENT
Creation of employment is the main reason to start any business establishment. Government can recruit personnel for doing manufacturing activity/business in the process of creating establishments. These jobs are not government jobs and these establishments are not government establishments since these establishments will be sold by the government for reasonable profits to the private parties or making limited companies by way of issuing share to the public.
You can see Creation of One Crore jobs with Continuous Linked Mixed Economy
http://1crorejobs.blogspot.com
IT IS CONTINUOUS PROCESS
After selling government started establishments, Rolling Fund “Industry Employment Creation Fund” will get funds back with reasonable profits or interests. Rolling funds should be utilized on regular basis to start industries in all places to give employment to all persons in the country. Government can funds every year from surplus budgets or government can issue bonds on fixed interest rates from time to time to speed up the process of establishments without any finance crunch or money difficulties.
State government can also start these rolling funds to start local businesses and Corporations / Municipalities/ Local Panchayats can also start these rolling funds to start small scale establishments to create jobs and fulfilling of local requirements like garbage disposal, drainage works, maintenance of certain works like yards, vegetable markets, etc, formation of roads, rain water harvesting, treatment of waste water, water pipe works, biogas plants, many things which are required for local people needs.
Read Debit Card without Paper Currency concept
http://dc-pc.blogpsot.com
After implementation of Debit Card without Paper Currency, Central and State Governments will get more tax revenues than earlier ones. The excess money of these budgets should be used to start new industries and creation of jobs.
The main resource of money will be come from the excess budgets of Central and State Governments. The men, materials and machines can be added to create jobs in creation of more big establishments by the government.
Generally government expects foreign direct investment from other countries to start new establishments since local money and expertise are not available inside the country. Government issues licenses, permissions and others like getting land acquisition, electricity, water, construction of buildings, procurement of machines and materials, recruiting personnel, etc, to the foreigners to start industry in the country. At present getting these licenses and permissions are time consuming ones for foreigner and he will seek local partner for these transactions. There is no single window procedure for these transactions.
After getting excess money from the surplus budgets, Government has to create a Rolling Fund (Say -Industry Employment Creation Fund) for establishing industries i.e. Government will establish industries and sell to the private parties or make it public/private limited companies and get back money with reasonable profits or interest on investment. Here the Government is the Promoter for starting industry and creation of jobs.
SINGLE WINDOW PROCEDURE FOR STARTING INDUSTRIES
Licenses and permissions and many things which are related to government side, can be exempted by the government since it is started by government. There are no permissions and licenses required for starting industries or big establishments to create jobs.
Government will start industries with very great ease since there are no struggle for licenses and permissions. Single window procedure for starting industries will help in creation of establishments. If single window has given permission to the industry, Central and State and Local government has to agree and bind by this single window procedure permission to give all kinds of facilities, sanctions, permits, licenses, approvals, etc. There should not be any delay from these governmental departments. There should not be any delay and it should be given within 24-72 hours of time since all permissions and licenses exempted and at a time approved.
EXECUTION OF STARTING ESTABLISHMENTS
There are no struggles of permits, licenses and others since it is started by the government, Government can smooth sail to start industry. For this expert and talent persons can be recruited on contract basis. These experts will start the work for establishing the industry by doing land usage, building construction, erecting machines, many things which are involved in starting the industry.
CREATION OF EMPLOYMENT
Creation of employment is the main reason to start any business establishment. Government can recruit personnel for doing manufacturing activity/business in the process of creating establishments. These jobs are not government jobs and these establishments are not government establishments since these establishments will be sold by the government for reasonable profits to the private parties or making limited companies by way of issuing share to the public.
You can see Creation of One Crore jobs with Continuous Linked Mixed Economy
http://1crorejobs.blogspot.com
IT IS CONTINUOUS PROCESS
After selling government started establishments, Rolling Fund “Industry Employment Creation Fund” will get funds back with reasonable profits or interests. Rolling funds should be utilized on regular basis to start industries in all places to give employment to all persons in the country. Government can funds every year from surplus budgets or government can issue bonds on fixed interest rates from time to time to speed up the process of establishments without any finance crunch or money difficulties.
State government can also start these rolling funds to start local businesses and Corporations / Municipalities/ Local Panchayats can also start these rolling funds to start small scale establishments to create jobs and fulfilling of local requirements like garbage disposal, drainage works, maintenance of certain works like yards, vegetable markets, etc, formation of roads, rain water harvesting, treatment of waste water, water pipe works, biogas plants, many things which are required for local people needs.
Tuesday, November 8, 2011
HOW TAX REVENUE WILL BE MULTIFOLDED BY DEBIT CARD WITHOUT PAPER CURRENCY
HOW TAX REVENUE WILL BE MULTIFOLDED BY DEBIT CARD WITHOUT PAPER CURRENCY
Read the Concept – Debit Card without Paper Currency
http://dc-pc.blogspot.com
Central and State Governments will get revenue in the form of taxes, duties, levies, etc. for running government machinery to implement government schemes and programmes. Taxes may be in different percentages on sales or exports/imports or services or others. You can call it income tax, excise, customs, service tax, sales tax, etc. These taxes are paid after the transactions happened or occurred. Taxes may be paid in advance also like income tax.
There are many loopholes to avoid taxes by Sellers and tax payers. Those are like, not declaring the real transactions, omitting many transactions, reducing the transaction values and numbers, bartering transactions without showing sales and purchases. India with 1.2 billion population, has many crores of small vendors and shops without paying tax after collecting tax from customers. For example, Small Provisional Shop, he will pay tax on Rs.500 to Rs.1000 of daily sales to Government. In real, actually the daily sales will be Rs.5000 to Rs.10000. He will not pay tax to the government but he collected all taxes from customers by selling goods at MRP rates. In a genuine Catering transaction, Hotel Caterer has collected Rs. 5 lakhs from one marriage transaction. Caterer will collect 10.3% i.e. Rs. 51,500/- service tax from customer and he will not pay any service tax to the government. This is one way customer loosing tax to the caterer and another way government will lose the service tax from caterer. One can go on telling how the tax avoided in different forms in all walks of life.
TAXES BEFORE DC-PC
1. Seller may exclude the transaction i.e. he will not show the selling transaction and buying transaction as well. Seller declares that there is no buying transaction and selling transaction and there is no tax payment but he will get margin of profits from these transactions. There is a big tax revenue loss to the governments due to this kind of transactions.
2. Taxes will be paid on nominal values as seller will decide the sales and taxes. Seller will decide based on his transactions and how much he wants to pay as tax to the Government. He will manage the tax authorities by paying some or little bribes at the time of inspections and assessments of sales tax and income tax. Seller will not give bill or invoice to the customer(s) or sometimes he will give bill/invoice for tax purposes which cannot be avoided.
3. Sales are not measured or calculated by any inspection agency in real since it is daily affair transactions. They are just declared by seller and certified by Chartered Accountant. There are so many transactions will out bill for the sales and there are so many transactions without bill for purchases.
4. Local governments like panchayat or municipality or corporation will not get professional tax from the employees. This is the biggest problem to get professional tax from each and every employee. There is no chance to cut the professional tax from monthly salary since it is not accounted and employee will not pay professional tax to municipal office or corporation office or local government. It is very difficult for local bodies to collect the professional tax because of less staff and unorganized employees everywhere which is not possible to identify them. Getting tax is very difficult from them.
5. State Governments will not get real taxes, duties, levies, etc. from real selling transactions from all customers. Taxes like State’s Sales Tax (Commercial tax), State Excise, duties, levies, etc. will be levied on sellers’declared transactions or inspected transactions but not real transactions.
6. Central Government, at present, will get income tax from government employees (major portion of income tax) and there are so many income tax evaders not only from business people but from agriculturalists.
TAXES AFTER DC-PC
All sellers whether they are big or small or little, will be given Business Account from the Banks and all business activities and transactions will be done through this business account only. Business transactions should not be done via any personal account and if anybody do business transaction in personal account, he will be penalized for that. These are separate accounts and taxes will be cut automatically when transaction happened. Fixed or Actual percentage will be cut on the transaction wherever and whenever it occurred. Taxes after cutting from these accounts will be credited to the Government exchequer account automatically.
• There is no possibility of hiding any transaction if it is accounted in money terms with the bank and seller cannot escape from any buying and selling transaction, when transaction occurred, automatically tax will be cut from the transaction amount and directly it will go to government account. This is instant tax payment to the government for real transaction whether seller is really big or small or little. Seller may play a role of broker when the selling transaction occurred temporarily to avoid both purchase and selling transactions and sales will be occurred from the wholesaler. He cannot play long time like broker at his premises for both buying and selling transactions to avoid tax payment to the government.
• Transactions are real and tax will be cut on each and every transaction instantly whether seller gives bill/invoice to the customer(s). Seller will give bill/invoice automatically to the customer(s) since it is accounted. Seller will not hide any transaction of selling or buying since it is accounted with bank.
• Fixed percentage say 10 percent of tax will be paid instantly on sales, the rest of amount of tax will be paid at the end of month, if he paid less percentage of tax. The real tax may be 10.3 percent (Service Tax) and the transaction cuts 10 percent on selling transaction and tax of 0.3 percent will be paid at the end of month. There is no nominal taxes declaration by seller on any transaction. Seller has the option to choose to pay real and actual tax which is charged to the customer for instant payment to the government.
• Each and every transaction is accounted with business account with bank and it is measured and calculated with real numbers and there is no escape from any transaction later since seller will be penalized with penalties and more rules and regulations enforced on the business.
• Local governments like panchayat or municipality or corporation with professional taxes since it is paid by the employers. At present, there is no professional tax payment from employees to the local governments. Local government will be strengthened after collecting of professional taxes and they can do more local infrastructural works for the benefit of local people. Drainage, Road, Library, Local works will be done very smoothly with our increasing the house taxes and other taxes. All employees from unorganized sectors will be paid professional tax from monthly salary from their bank accounts. This is automatic professional tax cut from the monthly salaries from all employees. Self worker or self employee will also be paid from their bank account and it will be easy. Municipality or Corporation may cut all taxes like house tax, water tax, drainage or sewage tax from the bank accounts of respected house owners accounts on monthly basis.
• Revenue from Taxes for State Government will be increased in many times because taxes will be cut from the instant transactions and directly it (money) will go to government exchequer. State Government will function very smooth way without any difficulties and it will not increase the sales tax percentages on the sales. Additional burden by state government will not be there on customers. People will not be burdened with more taxes and increased tax rates and prices.
• Central Government will get 5 to 10 times more revenue than the existing revenues since it is accounted with bank and each and every transaction can be checked in later date. Sellers will be more cautious to pay taxes since it is accounted and chance of penalty for not paying taxes.
Read the Concept – Debit Card without Paper Currency
http://dc-pc.blogspot.com
Central and State Governments will get revenue in the form of taxes, duties, levies, etc. for running government machinery to implement government schemes and programmes. Taxes may be in different percentages on sales or exports/imports or services or others. You can call it income tax, excise, customs, service tax, sales tax, etc. These taxes are paid after the transactions happened or occurred. Taxes may be paid in advance also like income tax.
There are many loopholes to avoid taxes by Sellers and tax payers. Those are like, not declaring the real transactions, omitting many transactions, reducing the transaction values and numbers, bartering transactions without showing sales and purchases. India with 1.2 billion population, has many crores of small vendors and shops without paying tax after collecting tax from customers. For example, Small Provisional Shop, he will pay tax on Rs.500 to Rs.1000 of daily sales to Government. In real, actually the daily sales will be Rs.5000 to Rs.10000. He will not pay tax to the government but he collected all taxes from customers by selling goods at MRP rates. In a genuine Catering transaction, Hotel Caterer has collected Rs. 5 lakhs from one marriage transaction. Caterer will collect 10.3% i.e. Rs. 51,500/- service tax from customer and he will not pay any service tax to the government. This is one way customer loosing tax to the caterer and another way government will lose the service tax from caterer. One can go on telling how the tax avoided in different forms in all walks of life.
TAXES BEFORE DC-PC
1. Seller may exclude the transaction i.e. he will not show the selling transaction and buying transaction as well. Seller declares that there is no buying transaction and selling transaction and there is no tax payment but he will get margin of profits from these transactions. There is a big tax revenue loss to the governments due to this kind of transactions.
2. Taxes will be paid on nominal values as seller will decide the sales and taxes. Seller will decide based on his transactions and how much he wants to pay as tax to the Government. He will manage the tax authorities by paying some or little bribes at the time of inspections and assessments of sales tax and income tax. Seller will not give bill or invoice to the customer(s) or sometimes he will give bill/invoice for tax purposes which cannot be avoided.
3. Sales are not measured or calculated by any inspection agency in real since it is daily affair transactions. They are just declared by seller and certified by Chartered Accountant. There are so many transactions will out bill for the sales and there are so many transactions without bill for purchases.
4. Local governments like panchayat or municipality or corporation will not get professional tax from the employees. This is the biggest problem to get professional tax from each and every employee. There is no chance to cut the professional tax from monthly salary since it is not accounted and employee will not pay professional tax to municipal office or corporation office or local government. It is very difficult for local bodies to collect the professional tax because of less staff and unorganized employees everywhere which is not possible to identify them. Getting tax is very difficult from them.
5. State Governments will not get real taxes, duties, levies, etc. from real selling transactions from all customers. Taxes like State’s Sales Tax (Commercial tax), State Excise, duties, levies, etc. will be levied on sellers’declared transactions or inspected transactions but not real transactions.
6. Central Government, at present, will get income tax from government employees (major portion of income tax) and there are so many income tax evaders not only from business people but from agriculturalists.
TAXES AFTER DC-PC
All sellers whether they are big or small or little, will be given Business Account from the Banks and all business activities and transactions will be done through this business account only. Business transactions should not be done via any personal account and if anybody do business transaction in personal account, he will be penalized for that. These are separate accounts and taxes will be cut automatically when transaction happened. Fixed or Actual percentage will be cut on the transaction wherever and whenever it occurred. Taxes after cutting from these accounts will be credited to the Government exchequer account automatically.
• There is no possibility of hiding any transaction if it is accounted in money terms with the bank and seller cannot escape from any buying and selling transaction, when transaction occurred, automatically tax will be cut from the transaction amount and directly it will go to government account. This is instant tax payment to the government for real transaction whether seller is really big or small or little. Seller may play a role of broker when the selling transaction occurred temporarily to avoid both purchase and selling transactions and sales will be occurred from the wholesaler. He cannot play long time like broker at his premises for both buying and selling transactions to avoid tax payment to the government.
• Transactions are real and tax will be cut on each and every transaction instantly whether seller gives bill/invoice to the customer(s). Seller will give bill/invoice automatically to the customer(s) since it is accounted. Seller will not hide any transaction of selling or buying since it is accounted with bank.
• Fixed percentage say 10 percent of tax will be paid instantly on sales, the rest of amount of tax will be paid at the end of month, if he paid less percentage of tax. The real tax may be 10.3 percent (Service Tax) and the transaction cuts 10 percent on selling transaction and tax of 0.3 percent will be paid at the end of month. There is no nominal taxes declaration by seller on any transaction. Seller has the option to choose to pay real and actual tax which is charged to the customer for instant payment to the government.
• Each and every transaction is accounted with business account with bank and it is measured and calculated with real numbers and there is no escape from any transaction later since seller will be penalized with penalties and more rules and regulations enforced on the business.
• Local governments like panchayat or municipality or corporation with professional taxes since it is paid by the employers. At present, there is no professional tax payment from employees to the local governments. Local government will be strengthened after collecting of professional taxes and they can do more local infrastructural works for the benefit of local people. Drainage, Road, Library, Local works will be done very smoothly with our increasing the house taxes and other taxes. All employees from unorganized sectors will be paid professional tax from monthly salary from their bank accounts. This is automatic professional tax cut from the monthly salaries from all employees. Self worker or self employee will also be paid from their bank account and it will be easy. Municipality or Corporation may cut all taxes like house tax, water tax, drainage or sewage tax from the bank accounts of respected house owners accounts on monthly basis.
• Revenue from Taxes for State Government will be increased in many times because taxes will be cut from the instant transactions and directly it (money) will go to government exchequer. State Government will function very smooth way without any difficulties and it will not increase the sales tax percentages on the sales. Additional burden by state government will not be there on customers. People will not be burdened with more taxes and increased tax rates and prices.
• Central Government will get 5 to 10 times more revenue than the existing revenues since it is accounted with bank and each and every transaction can be checked in later date. Sellers will be more cautious to pay taxes since it is accounted and chance of penalty for not paying taxes.
Saturday, November 5, 2011
How Debit Card without Paper Currency improves the lives of lower income groups?
What is Debit Card without Paper currency, Please read
http://dc-pc.blogspot.com
One employee is working in a small readymade shop or textie shop or any other small vending shop. I want to explain the conditions of lower income people at present and after implementation of Debit card without paper currency.
PRESENT SITUATION
1. Salary: meagre salary which employee can not demand and always at the mercy of owner of shop and pathetic condition when empoyee loss his job.
2. Profidend Fund - There is no providend fund in these small shops because owner will not show the employees under the estabishment.
3. Medical facilities - There are no medical treatment to the employee or his family members.
4. Insurance facilities - accidental insurance or group insurance will ne a dream to the employee at present
5. Education and training - there are no further education or training to improve his talent or capabiity to get more salary.
you can add many points related to welfare and safety and income point of view for the employee point of view
All the above points are occurred because of unaccounted transaction of employee service to the establishment.
AFTER DEBIT CARD WITHOUT PAPER CURRENCY IMPLEMENTATION
1. Salary - Employer has to give as per specified Government fixed salaries to the employees and all transaction are accounted with bank.
2. Providend Fund - Employer has to pay his part of provident fund with employee contributed fund to the PF organisation. Employer can not escape from the responbilities of his employees since it is accounted. He has to pay the penalty if he fails to do so.
3. In India, Private Sector employees will ESI hospital facilities for him and his family members. Employee use to pay some amount from his salary to the employer. For this, employer will pay the amount to the ESI hospitals for the employee and his family mebers treatment. Employee can penalise if employer failed to do so.
4. Insurance facilities - There is big chance to get accidental and other insurance facilities if it is provided by employer to the employee.
5. Education and Training - Employee may get training or education to upgrade his talent or capability to increase his salary and improve his family condition.
All other facilities to the employee can be questioned and legally punishment can be given to the employer.
If it is accounted, employer will be saved by paying his contribution and improve his reationshipo with the empoyees. Many times employers do not know what are rules and regulations for the facilities to the employees.
Debit card without Paper Currency will give greater scope to every body to get medical facilities in the country. When everybody gets medical facilities, the country will go on development further on other important issues.
BIGGEST PROBLEM OF ANY COUNTRY IS MEDICAL FACILTIES TO EVERYBODY - Debit card without paper currency will give solution to this problem.
This system is really gives uniform income distribution in the country and this will change a lot in purchase power and getting medical, education to lower income groups in the country.
http://dc-pc.blogspot.com
One employee is working in a small readymade shop or textie shop or any other small vending shop. I want to explain the conditions of lower income people at present and after implementation of Debit card without paper currency.
PRESENT SITUATION
1. Salary: meagre salary which employee can not demand and always at the mercy of owner of shop and pathetic condition when empoyee loss his job.
2. Profidend Fund - There is no providend fund in these small shops because owner will not show the employees under the estabishment.
3. Medical facilities - There are no medical treatment to the employee or his family members.
4. Insurance facilities - accidental insurance or group insurance will ne a dream to the employee at present
5. Education and training - there are no further education or training to improve his talent or capabiity to get more salary.
you can add many points related to welfare and safety and income point of view for the employee point of view
All the above points are occurred because of unaccounted transaction of employee service to the establishment.
AFTER DEBIT CARD WITHOUT PAPER CURRENCY IMPLEMENTATION
1. Salary - Employer has to give as per specified Government fixed salaries to the employees and all transaction are accounted with bank.
2. Providend Fund - Employer has to pay his part of provident fund with employee contributed fund to the PF organisation. Employer can not escape from the responbilities of his employees since it is accounted. He has to pay the penalty if he fails to do so.
3. In India, Private Sector employees will ESI hospital facilities for him and his family members. Employee use to pay some amount from his salary to the employer. For this, employer will pay the amount to the ESI hospitals for the employee and his family mebers treatment. Employee can penalise if employer failed to do so.
4. Insurance facilities - There is big chance to get accidental and other insurance facilities if it is provided by employer to the employee.
5. Education and Training - Employee may get training or education to upgrade his talent or capability to increase his salary and improve his family condition.
All other facilities to the employee can be questioned and legally punishment can be given to the employer.
If it is accounted, employer will be saved by paying his contribution and improve his reationshipo with the empoyees. Many times employers do not know what are rules and regulations for the facilities to the employees.
Debit card without Paper Currency will give greater scope to every body to get medical facilities in the country. When everybody gets medical facilities, the country will go on development further on other important issues.
BIGGEST PROBLEM OF ANY COUNTRY IS MEDICAL FACILTIES TO EVERYBODY - Debit card without paper currency will give solution to this problem.
This system is really gives uniform income distribution in the country and this will change a lot in purchase power and getting medical, education to lower income groups in the country.
Thursday, September 9, 2010
Debit Card without Paper Currency - True and Ultimate Solution for Corruption and All Social Evils
Debit Card without Paper Currency – True and Ultimate Solution for Corruption and All Social Evils
DEBIT CARD WITHOUT PAPER CURRENCY CONCEPT
First we question ourselves, Why the hungry, illiteracy, poverty, unemployment, dowry, corruption, naxalism, terrorism and all kinds of social evils prevailing in the country?
I Question myself every time, every day, almost many years for the answer. Then I realized that all problems are related to the money and finance and its irregularities over the decades and centuries.
Questioning myself further, it is financial transaction and it should be measured and it should be visually available for at any time. It is not possible every time or all the times if it is cash or currency transaction. If it is currency notes, it is not possible to measure the transaction and visually calculate after the transaction is over.
If the financial and money transaction would be measured and calculated and the same transaction is accounted and also the same transaction details are available at any time, then all the problems of the country would be solved automatically.
Is it possible?
Yes. Definitely possible at present day of technology world.
How it is possible? It is possible only when Government has to take certain decisions for the development of country.
What is the ANSWER finally
Debit Card without Paper Currency
If Government bans paper currency and make compulsory to use DEBIT CARD alone, it will give TAXABLE INCOME in many folds to Indian Budget. If Government implements the Debit Card alone, there won’t be any deficit in the future Budgets. I expect atleast more than 10 times of Present Tax Income would be generated for eradiation of poverty and creation of employment. Each and every financial transaction of citizen would be counted and calculated. Debit card gives accountability for every transaction and thus it gives more taxes to the Government. USAGE OF DEBIT CARD ALONE would remove poverty, unemployment, corruption, dowry, terrorism, naxalism, and all sorts of evils from the society since it is visible measurable financial transaction. India will become No.1 developed country in the world within 2 years. I have debit card without paper currency concept to be popularized for the development of India. I will come for discussion how it will be useful for the each and every member of society, states and country. RBI, All Banks and Government & Others should play a vital for this implementation for Golden future of India.
For Example: One Medical Student has given Rs.25-50 lakhs as donation to the medical college for the management seat. What is the effect on the society. Rich (Medical College Owner) become richest and Medical Student lost many things due to his loss of lakhs of rupees. After Completion of MBBS, what will happen, he will charge highest amounts to the patients s a fees. So here poor patient become poorest by paying huge amount of fees and losing his daily facilities like education, medicine, sanitory, clothing, nourished food and many things.
The Scene after Debit Card without Paper Currency
Student cannot give donation to the management, After MBBS he will not charge more fees becaused ha has not paid lakhs to the management seat. Poor will get his minimum facilities. Income distribution among people will happen in this concept, so that purchasing power of poor will be increased, as a result poor will be benefitted financially.
Second Example: On the road, one cannot give bribe to Traffic Police, You may feel it is less corruption but it results in many accidents. Bribing police will result many accidents which causes many lives of people and died person may be breadwinner of the family.
After DC-PC
One cannot bribe since it is accounted, so Police do sincere duty and people follow traffic rules in pacca way. Accidents will reduce automatically. There is no more deaths and accidents because of ill doings of police of public.
Third Example:- Government Schemes are not reaching to the real people or reaching 10% to the poor. Rajiv Gandhi told that 10% of Government is reaching to the Poor. Poor people has to bribe many departments and government staff to get their real benefits of Government.
After DC-PC
Bribing cannot be possible and 100% money will be reached to the real person to remove his poverty. All Government Schemes and Programs will reach 100% to the poor. All transactions are accounted and all peoples' accounts are accounted and visible to everybody.
Example:
Somebody wants to give dowry for his daughter and it will be taken by bridegroom or his father or mother. It is possible in the present day situation.
After DC-PC
It is not possible to give dowry to anybody, it is accounted, dowry taker and giver will be punished since it is accounted. Dowry will automatically be reduced. As a result, father spends money on female child education and all female population get educated. Finally all families and society will be benefitted
How to Implement DC-PC ?
It is not much easy to implement the concept as it is, any change will be resisted by all sections of the society in the first instance. It should be done in phased manner.
1. Banks should issue a Debit Card to everybody including children (child cards). Each and every person should have debit card before implementing DC-PC. The usage of debit card should be popularized via Television, Paper and all media channels. People should get familiarized about the usage of debit card.
2. Security of Debit Card - Security systems of debit card should be strengthened, in a situation like debit card theft or missing, asking bank to block the account and issue another card with security. This should be in easiest way to get the cards from banks and banks should give cards immediately.
3. Banks should take all currency notes from the people, and NO ISSUE of currency notes from the banks. That means banks are not giving currency notes to the people, only taking notes from the people. So currency notes are not available, so people feel the heat of shortage of currency notes.
4. After shortage of notes, Government should ban the currency notes in the metropolitan cities first, so that the currency notes will be moved to small cities and towns, so the developmental activities will be moved from metros to small cities. This effect will come naturally since notes of black money will move from metros to small cities automatically. Income will be distributed in different wasy from the rich people of metros.
5. As a Second Step, Government should ban currency notes from Small Cities and Towns, so that currency will be moved from small cities and towns to villages and taluqs.
I just want to see myself thinking that I am using only debit card and there is no currency notes. I just go around the busy road. I get into a bus, If I give debit card, what should be done, conductor has to give ticket, then he has to use the instrucment which is wireless instrument for accepting my debit card money. I told myself, Okay it is possible if the conductor should be familiarized about the debit card usage. If the debit card has not accepted then what is my position. The technology should be developed that every bank's card to be accepted by everybody. Then only the debit card usage would be possible.
I get down from bus. I just see around the road, roadside vendors are there to sell small food items, drinks, etc. I am so thrusty, I want to buy cool drink, whether the small vendor able to accept, Yes it is possible to the vendor since he is bank account holder, he has to use the instrument to accept the debit card from the customers. He is having the electrical line and phone line and it is possible for him to accept the card. After I took the cool drink, then I seen small roadside seller is selling some curchiefs and other small items. He does not have phone or electrical connection, then how the transaction will be happened, the wireless set or instrument should be used for the purpose, Is he able to buy such a costly machine, so Government has to provide the set with subsidy. The objective or aim of this debit card without currency notes, is for the benefit of small vendor and poor people and for their development. They should not suffer at any cost. Government has to save these people at any cost initially.
After the transaction, I want to buy apple from small cart fellow and again I want to buy vegetable from road side vendors. I want to buy chicken from the shop and again I want to some provisions from tiny vendor.
Government has to make this wireless instruments for small vendors for accepting the debit card. Then only it is possible for every vendor to accept the debit cards.
SWOT ANALYSIS – strengths, Weaknesses, Opportunities, Threats
Strengths
1. Corruption will be automatically wiped out from the Society and our country. Everyone is responsible for their transactions who are giving bribes and who are taking bribes and they will be caught since it is black & white and accounted in the bank. It is biggest boon to country.
2. Donations for education seats like Medicine and Engineering and other technical education, will be automatically stopped and Private colleges will come to a solution with the Government for their survival in other forms. So New Acts will come to existence to see both sides of colleges and students & society
3. Dowry will be wiped out and girl education would be encouraged in the society. It results 100% literate society in future. Women will be financially equipped with Equal Right in Parents Assets. Women would be more powerful with jobs and finance
4. No hungry deaths since Government Schemes will reach 100% to the poor. Pubic Distribution Systems through Ration Shops will effectively work for the poor people.
5. Naxalism and Terrorism will be automatically wiped out since the poor people in the society is benefitted by Government schemes and Buying weapons and related will be difficult for them after this concept.
6. End to Tax evasion. Government will cut the Tax Instantly when any Business Transaction occurred and money will be automatically credited to Government Exchequer through the bank. Governments will get taxes on daily basis.
7. Budget money will be increased in many folds say ten times of present budget income. Government can easily target the unemployment, education, medical facilities and infrastructural facilities in the country.
8. All Government contractual works will be done with less amounts (atleast 30% less than present works) since there is no corruption and it results more works with same money for government.
9. “Reduced Auction Open” (RAO) system will come after this concept to do Government works via tenders. In this RAO system, openly in front of everybody, one contractor will say that I will do this work for Rs. 1 crore and Second contractor can reduce amount by saying I will do it for Rs. 90 lakhs, Third contractor can reduce amount by saying I will do it for Rs. 80 lakhs and so on. Finally the real amount of work will be given to the contractor without any corruption.
10. Political system will be purified and new generation of political leaders will come in front with real social service motto. This is really a Big Bonanza for the society since the leaders are really socially motivated to improve the country.
11. Thinking of social system will be changed since there is no chance to do wrong things and this make everybody as HARISH CHANDRA”. Society will be run on ideal thinking with good works and thoughts.
12. Planning can be done 100% accurately and Estimation will also be accurate.
13. India will become stronger than any developed nation
Weaknesses
1. Political parties unwillingness to implement this concept and Political parties has to find other ways of getting funds for their survival and running the party. They have to follow other nations for running political events like conducting big stages, contesting elections and other means of expenditure.
2. Initial resistance from the Society since change will not be accepted immediately. When computers introduced people criticized due to unemployment. Implementation should be done in phased manner.
3. Resistance from Business Society since they have to pay taxes instantly and 100% without any tax evasion. Small shopkeepers will go strikes to stop the implementation. Government should be successful to overcome these problems by educate them this concept is for the benefit of whole society and finally benefit to them. Mediator and Middle Channels will be reduced in the business cycle and benefit the customer.
4. Lack of awareness in old people and children and uneducated will suffer in initial stage of implementation. Government has to do propaganda about this concept via electronic media and paper media and through NGOs.
5. Difficulties in implementation such as manufacturing debit card machines and making ATMs as Account Transfer Machines and making other payments modes like encouraging internet, cell phone payments.
Opportunities
1. Identifying the people who are on the roads without homes. Poor people will be benefitted by Government Schemes.
2. Poor Income Groups will be identified and benefits will be given to these groups by providing employment opportunities like self help groups employment or self employment schemes or providing government works to these people.
3. Free education facilities to poor and middle income groups by giving interest free loans, full payment of tuition fees to the students
4. Free hospital facilities to all citizens of India by creating more hospitals, and creating more jobs to nurses, doctors and medical facilities for every 10 kilometer range. ArogyaSree Scheme in Andhra Pradesh can be implemented all over India.
5. More infrastructural facilities like more roads to villages, bridges and highways to the country and more jobs to all engineering candidates.
6. Budget Planning will be done with 100% accuracy. Governments have more opportunities to create employment, to be self sufficient and self reliant practices.
7. Debit Card Machines manufacture will be done to meet the demands of business people.
8. Sanitary facilities to be created since 63 crores of people do not have sanitary facilities in India. Act to be framed and implemented to get sanitary facilities to everybody.
Threats
1. Political parties in oppose will invite this concept and parties in ruling will oppose this concept. Political parties may topple the government due to this reason.
2. Capitalists may strongly oppose this concept since they cannot avoid taxes and have to pay more taxes. Black money will die automatically.
3. Some sections of society such as business people, old people, illiterate people, children will oppose this concept initially due to lack of awareness.
4. External forces from other countries will try to stop the implementation of this concept since the black money and other activities would be stopped by this concept.
PLAN OF ACTION BY GOVERNMENT
Government has to implement this concept in phased manner without getting hesitation from the political and social system. When computers introduced in the country all criticized due to unemployment in the country. Government should make all people to get awareness about the debit card usage through Electronic Media and Print Media and NGOs.
1. Reserve Bank of India should issue an order that everybody in India should get Debit Card including children (child card with limit money)
2. RBI should not print Currency Notes any more.
3. All Banks will receive currency notes and All Banks will not issue or give
currency notes to public.
4. From January 1, 2012 onwards, there is no value for Rs.500/- and Rs.1000/- and above Rs.500/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs.500/-.
5. From July 1, 2012 onwards, there is no value for Rs.100/- and above Rs.100/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs.100/-.
6. From January 1, 2013 onwards, there is no value for Rs. 50/- and above Rs. 50/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs. 50/-.
7. From July 1, 2013 onwards, there is no value for Rs. 20/- and above Rs. 20/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs. 20/-.
8. From January 1, 2014 onwards, there is no value for Rs. 10/- and above Rs. 10/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs. 10/-.
9. From July 1, 2015 onwards, there is no value for Rs. 5/- and Rs. 2/- and Re. 1/- Notes.
10. From January 1, 2017 onwards, No Value for ALL COINS.
Nationwide forum shoule be conducted before implementation of this concept. So I invite everybody to give constructive suggestions, comments, criticism on this concept.
email: svanimireddy@gmail.com
DEBIT CARD WITHOUT PAPER CURRENCY CONCEPT
First we question ourselves, Why the hungry, illiteracy, poverty, unemployment, dowry, corruption, naxalism, terrorism and all kinds of social evils prevailing in the country?
I Question myself every time, every day, almost many years for the answer. Then I realized that all problems are related to the money and finance and its irregularities over the decades and centuries.
Questioning myself further, it is financial transaction and it should be measured and it should be visually available for at any time. It is not possible every time or all the times if it is cash or currency transaction. If it is currency notes, it is not possible to measure the transaction and visually calculate after the transaction is over.
If the financial and money transaction would be measured and calculated and the same transaction is accounted and also the same transaction details are available at any time, then all the problems of the country would be solved automatically.
Is it possible?
Yes. Definitely possible at present day of technology world.
How it is possible? It is possible only when Government has to take certain decisions for the development of country.
What is the ANSWER finally
Debit Card without Paper Currency
If Government bans paper currency and make compulsory to use DEBIT CARD alone, it will give TAXABLE INCOME in many folds to Indian Budget. If Government implements the Debit Card alone, there won’t be any deficit in the future Budgets. I expect atleast more than 10 times of Present Tax Income would be generated for eradiation of poverty and creation of employment. Each and every financial transaction of citizen would be counted and calculated. Debit card gives accountability for every transaction and thus it gives more taxes to the Government. USAGE OF DEBIT CARD ALONE would remove poverty, unemployment, corruption, dowry, terrorism, naxalism, and all sorts of evils from the society since it is visible measurable financial transaction. India will become No.1 developed country in the world within 2 years. I have debit card without paper currency concept to be popularized for the development of India. I will come for discussion how it will be useful for the each and every member of society, states and country. RBI, All Banks and Government & Others should play a vital for this implementation for Golden future of India.
For Example: One Medical Student has given Rs.25-50 lakhs as donation to the medical college for the management seat. What is the effect on the society. Rich (Medical College Owner) become richest and Medical Student lost many things due to his loss of lakhs of rupees. After Completion of MBBS, what will happen, he will charge highest amounts to the patients s a fees. So here poor patient become poorest by paying huge amount of fees and losing his daily facilities like education, medicine, sanitory, clothing, nourished food and many things.
The Scene after Debit Card without Paper Currency
Student cannot give donation to the management, After MBBS he will not charge more fees becaused ha has not paid lakhs to the management seat. Poor will get his minimum facilities. Income distribution among people will happen in this concept, so that purchasing power of poor will be increased, as a result poor will be benefitted financially.
Second Example: On the road, one cannot give bribe to Traffic Police, You may feel it is less corruption but it results in many accidents. Bribing police will result many accidents which causes many lives of people and died person may be breadwinner of the family.
After DC-PC
One cannot bribe since it is accounted, so Police do sincere duty and people follow traffic rules in pacca way. Accidents will reduce automatically. There is no more deaths and accidents because of ill doings of police of public.
Third Example:- Government Schemes are not reaching to the real people or reaching 10% to the poor. Rajiv Gandhi told that 10% of Government is reaching to the Poor. Poor people has to bribe many departments and government staff to get their real benefits of Government.
After DC-PC
Bribing cannot be possible and 100% money will be reached to the real person to remove his poverty. All Government Schemes and Programs will reach 100% to the poor. All transactions are accounted and all peoples' accounts are accounted and visible to everybody.
Example:
Somebody wants to give dowry for his daughter and it will be taken by bridegroom or his father or mother. It is possible in the present day situation.
After DC-PC
It is not possible to give dowry to anybody, it is accounted, dowry taker and giver will be punished since it is accounted. Dowry will automatically be reduced. As a result, father spends money on female child education and all female population get educated. Finally all families and society will be benefitted
How to Implement DC-PC ?
It is not much easy to implement the concept as it is, any change will be resisted by all sections of the society in the first instance. It should be done in phased manner.
1. Banks should issue a Debit Card to everybody including children (child cards). Each and every person should have debit card before implementing DC-PC. The usage of debit card should be popularized via Television, Paper and all media channels. People should get familiarized about the usage of debit card.
2. Security of Debit Card - Security systems of debit card should be strengthened, in a situation like debit card theft or missing, asking bank to block the account and issue another card with security. This should be in easiest way to get the cards from banks and banks should give cards immediately.
3. Banks should take all currency notes from the people, and NO ISSUE of currency notes from the banks. That means banks are not giving currency notes to the people, only taking notes from the people. So currency notes are not available, so people feel the heat of shortage of currency notes.
4. After shortage of notes, Government should ban the currency notes in the metropolitan cities first, so that the currency notes will be moved to small cities and towns, so the developmental activities will be moved from metros to small cities. This effect will come naturally since notes of black money will move from metros to small cities automatically. Income will be distributed in different wasy from the rich people of metros.
5. As a Second Step, Government should ban currency notes from Small Cities and Towns, so that currency will be moved from small cities and towns to villages and taluqs.
I just want to see myself thinking that I am using only debit card and there is no currency notes. I just go around the busy road. I get into a bus, If I give debit card, what should be done, conductor has to give ticket, then he has to use the instrucment which is wireless instrument for accepting my debit card money. I told myself, Okay it is possible if the conductor should be familiarized about the debit card usage. If the debit card has not accepted then what is my position. The technology should be developed that every bank's card to be accepted by everybody. Then only the debit card usage would be possible.
I get down from bus. I just see around the road, roadside vendors are there to sell small food items, drinks, etc. I am so thrusty, I want to buy cool drink, whether the small vendor able to accept, Yes it is possible to the vendor since he is bank account holder, he has to use the instrument to accept the debit card from the customers. He is having the electrical line and phone line and it is possible for him to accept the card. After I took the cool drink, then I seen small roadside seller is selling some curchiefs and other small items. He does not have phone or electrical connection, then how the transaction will be happened, the wireless set or instrument should be used for the purpose, Is he able to buy such a costly machine, so Government has to provide the set with subsidy. The objective or aim of this debit card without currency notes, is for the benefit of small vendor and poor people and for their development. They should not suffer at any cost. Government has to save these people at any cost initially.
After the transaction, I want to buy apple from small cart fellow and again I want to buy vegetable from road side vendors. I want to buy chicken from the shop and again I want to some provisions from tiny vendor.
Government has to make this wireless instruments for small vendors for accepting the debit card. Then only it is possible for every vendor to accept the debit cards.
SWOT ANALYSIS – strengths, Weaknesses, Opportunities, Threats
Strengths
1. Corruption will be automatically wiped out from the Society and our country. Everyone is responsible for their transactions who are giving bribes and who are taking bribes and they will be caught since it is black & white and accounted in the bank. It is biggest boon to country.
2. Donations for education seats like Medicine and Engineering and other technical education, will be automatically stopped and Private colleges will come to a solution with the Government for their survival in other forms. So New Acts will come to existence to see both sides of colleges and students & society
3. Dowry will be wiped out and girl education would be encouraged in the society. It results 100% literate society in future. Women will be financially equipped with Equal Right in Parents Assets. Women would be more powerful with jobs and finance
4. No hungry deaths since Government Schemes will reach 100% to the poor. Pubic Distribution Systems through Ration Shops will effectively work for the poor people.
5. Naxalism and Terrorism will be automatically wiped out since the poor people in the society is benefitted by Government schemes and Buying weapons and related will be difficult for them after this concept.
6. End to Tax evasion. Government will cut the Tax Instantly when any Business Transaction occurred and money will be automatically credited to Government Exchequer through the bank. Governments will get taxes on daily basis.
7. Budget money will be increased in many folds say ten times of present budget income. Government can easily target the unemployment, education, medical facilities and infrastructural facilities in the country.
8. All Government contractual works will be done with less amounts (atleast 30% less than present works) since there is no corruption and it results more works with same money for government.
9. “Reduced Auction Open” (RAO) system will come after this concept to do Government works via tenders. In this RAO system, openly in front of everybody, one contractor will say that I will do this work for Rs. 1 crore and Second contractor can reduce amount by saying I will do it for Rs. 90 lakhs, Third contractor can reduce amount by saying I will do it for Rs. 80 lakhs and so on. Finally the real amount of work will be given to the contractor without any corruption.
10. Political system will be purified and new generation of political leaders will come in front with real social service motto. This is really a Big Bonanza for the society since the leaders are really socially motivated to improve the country.
11. Thinking of social system will be changed since there is no chance to do wrong things and this make everybody as HARISH CHANDRA”. Society will be run on ideal thinking with good works and thoughts.
12. Planning can be done 100% accurately and Estimation will also be accurate.
13. India will become stronger than any developed nation
Weaknesses
1. Political parties unwillingness to implement this concept and Political parties has to find other ways of getting funds for their survival and running the party. They have to follow other nations for running political events like conducting big stages, contesting elections and other means of expenditure.
2. Initial resistance from the Society since change will not be accepted immediately. When computers introduced people criticized due to unemployment. Implementation should be done in phased manner.
3. Resistance from Business Society since they have to pay taxes instantly and 100% without any tax evasion. Small shopkeepers will go strikes to stop the implementation. Government should be successful to overcome these problems by educate them this concept is for the benefit of whole society and finally benefit to them. Mediator and Middle Channels will be reduced in the business cycle and benefit the customer.
4. Lack of awareness in old people and children and uneducated will suffer in initial stage of implementation. Government has to do propaganda about this concept via electronic media and paper media and through NGOs.
5. Difficulties in implementation such as manufacturing debit card machines and making ATMs as Account Transfer Machines and making other payments modes like encouraging internet, cell phone payments.
Opportunities
1. Identifying the people who are on the roads without homes. Poor people will be benefitted by Government Schemes.
2. Poor Income Groups will be identified and benefits will be given to these groups by providing employment opportunities like self help groups employment or self employment schemes or providing government works to these people.
3. Free education facilities to poor and middle income groups by giving interest free loans, full payment of tuition fees to the students
4. Free hospital facilities to all citizens of India by creating more hospitals, and creating more jobs to nurses, doctors and medical facilities for every 10 kilometer range. ArogyaSree Scheme in Andhra Pradesh can be implemented all over India.
5. More infrastructural facilities like more roads to villages, bridges and highways to the country and more jobs to all engineering candidates.
6. Budget Planning will be done with 100% accuracy. Governments have more opportunities to create employment, to be self sufficient and self reliant practices.
7. Debit Card Machines manufacture will be done to meet the demands of business people.
8. Sanitary facilities to be created since 63 crores of people do not have sanitary facilities in India. Act to be framed and implemented to get sanitary facilities to everybody.
Threats
1. Political parties in oppose will invite this concept and parties in ruling will oppose this concept. Political parties may topple the government due to this reason.
2. Capitalists may strongly oppose this concept since they cannot avoid taxes and have to pay more taxes. Black money will die automatically.
3. Some sections of society such as business people, old people, illiterate people, children will oppose this concept initially due to lack of awareness.
4. External forces from other countries will try to stop the implementation of this concept since the black money and other activities would be stopped by this concept.
PLAN OF ACTION BY GOVERNMENT
Government has to implement this concept in phased manner without getting hesitation from the political and social system. When computers introduced in the country all criticized due to unemployment in the country. Government should make all people to get awareness about the debit card usage through Electronic Media and Print Media and NGOs.
1. Reserve Bank of India should issue an order that everybody in India should get Debit Card including children (child card with limit money)
2. RBI should not print Currency Notes any more.
3. All Banks will receive currency notes and All Banks will not issue or give
currency notes to public.
4. From January 1, 2012 onwards, there is no value for Rs.500/- and Rs.1000/- and above Rs.500/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs.500/-.
5. From July 1, 2012 onwards, there is no value for Rs.100/- and above Rs.100/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs.100/-.
6. From January 1, 2013 onwards, there is no value for Rs. 50/- and above Rs. 50/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs. 50/-.
7. From July 1, 2013 onwards, there is no value for Rs. 20/- and above Rs. 20/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs. 20/-.
8. From January 1, 2014 onwards, there is no value for Rs. 10/- and above Rs. 10/- transaction should be done via debit card / credit card / cheque. No cash transaction is valid above Rs. 10/-.
9. From July 1, 2015 onwards, there is no value for Rs. 5/- and Rs. 2/- and Re. 1/- Notes.
10. From January 1, 2017 onwards, No Value for ALL COINS.
Nationwide forum shoule be conducted before implementation of this concept. So I invite everybody to give constructive suggestions, comments, criticism on this concept.
email: svanimireddy@gmail.com
Subscribe to:
Posts (Atom)