Solving Cash problem
If Government
1) declares that there will be second demonetization of Rs 2000 currency in next six months ,
2) circulate Rs 100 , 50, 20 ,10 notes in place of Rs 2000 currency total value ,
3)fix the limit of the cash transaction up to 2000 /- ,
4) Enforce the Higher transaction above 2000/- through cards & cheques only
then the problem of cash will automatically end .
We will find that all the banks / ATM will be full of cash .
Without the demonetization of Rs 2000 currency
and fixing limit of cash transaction up to Rs 2000/-,
it will not be possible to bring out 70 % black money which is converted in the form of Rs 2000 currency now . more
1) declares that there will be second demonetization of Rs 2000 currency in next six months ,
2) circulate Rs 100 , 50, 20 ,10 notes in place of Rs 2000 currency total value ,
3)fix the limit of the cash transaction up to 2000 /- ,
4) Enforce the Higher transaction above 2000/- through cards & cheques only
then the problem of cash will automatically end .
We will find that all the banks / ATM will be full of cash .
Without the demonetization of Rs 2000 currency
and fixing limit of cash transaction up to Rs 2000/-,
it will not be possible to bring out 70 % black money which is converted in the form of Rs 2000 currency now . more
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At present scenario,Indian economy cannot sustain cashless transanctions, but less cash transactions can be ensured by regulating circulation of currency. This may be ensured by discouraging cash transactions and encouraging transactions through Bank. To achieve this I suggest to introduce "Cash transaction tax" a certain amount of tax for both withdrawals and remittances in cash to be collected by the Bankers and cash received at sale points is also to be levied with this C.T.T. The tax may be collected as T.D.S. to be remitted to G.O.I. This system will ensure to gradually drive the people to the degitalised economy. more
Dec 19
