Statement given by the Prime Minister in a meeting regarding GST bills with a Chartered Accountant that the Chartered Accountants did not have their share of sleep on the night of 8th November, 2016 as they were occupied with the various methods and plans related to the conversion of the black money into white without any tax. This statement just highlights the childish attitude and immaturity. The amount of revenue generated during demonetization was very low due to the improper implementation of the plan of demonetization. The strategy implied by the business man and the Chartered Accountant for the conversion of the black money into white, was possible in that financial year only. A good amount could have been generated by paying 20% tax on the income and the money could be deemed as white. The business man and the Chartered Accountant waited for the old currency to be declared their income but the businessman was left empty handed. They could not liquify their bad debts.
The implementation of the strategy involving demonetization by the government was so poor that the black money in the country had been converted again into the black money at the same cost of 20% by the malpractices in the major cities of India because the corruption in the country is very high and nobody thinks rationally. If the thought process would have been in the right direction, the 20% loss incurred on the conversion of the black money could have been avoided by paying the revenue to the government and the money would have been converted to white money. So, our honourable Prime Minister cannot blame the others for ignorance and negligence. The failure of the demonetization plan in the country was the sole responsibility of our Prime Minister and his Government and the future generation will not forgive him for this wrong implementation of demonetization. This demonetization decision could have been a good decision , if implemented correctly.
No comments:
Post a Comment