ಅರ್ಥಕ್ರಾಂತಿ!
Mr. Arun Bokil, one of
the key member of Arthakranti Sansthan was given time to share to PM Narendra
Modi before recent election. He was given 9 Minute for sharing but Mr. Narendra
Modi heard him for 2 Hrs.
Arthakranti Proposal
What is Arthakranti Proposal and who has given the proposal?
“Arthakranti Proposal” has been given by a Pune (Maharashtra) based “Arthakranti Sansthan” which is an Economic Advisory body constituted by a group of Chartered Accountants and Engineers. This funda has been patented by the Sansthan.
Arthakranti Proposal is an effective and guaranteed solution of Black Money Generation, Price rise and Inflation, Corruption, Fiscal Deficit, Unemployment, Ransom, GDP and industrial growth, terrorism and good governance.
What is in the Proposal?
“Arthakranti Proposal
has FIVE point of actions simultaneously.
1) Scrap all 56 types of Taxes including
income tax excluding import duty.
2) Recall and scrap high denomination
currencies of 1000, 500 and 100 rupees.
3) All high value transaction to be made
only through banking system like cheque, DD, online and electronic.
4) Fix limit of cash transaction and no
taxing on cash transaction.
5) For Govt. revenue collection
introduce single point tax system through banking system Banking Transaction
Tax (2% to 0.7%) on only Credit Amount
Important Points to note:
1) As on today total banking transaction
is more than 2.7 lakh crores per day say more than 800 lakh crores annually.
2) Less than 20% transaction is made
through banking system as on today and more than 80% transaction made in cash
only, which is not traceable.
3) 78% of Indian population spend less
than 20/- rupees daily why they need 1000/- rupee note.
What will happen if All 56 types of Taxes including income tax scrapped?
1) Salaried people will bring home more
money which will increase purchasing power of the family.
2) All commodities including Petrol,
Diesel, and FMCG will become cheaper by 35% to 52%.
3) No question of Tax evasion so no
black money generation.
4) Business sector will get boosted. So
self-employment.
What will happen
if 1000/ 500/ 100 Rupees currency notes recalled and scrapped:
1) Corruption through cash will stopped
100%.
2) Black money will be either converted
to white or will vanish as billions of 1000/500/100 currency notes hidden in
bags without use will become simple pieces of papers.
3) Unaccounted hidden huge cash is
skyrocketing the prices of properties, land, houses, jewellery etc. and hard
earned money is loosing its value; this trend will stop immediately.
4) Kidnapping and ransom, “Supari
killing” will stop.
5) Terrorism supported by cash
transaction will stop.
6) Cannot buy high value property in
cash showing very less registry prices.
7) Circulation of “Fake Currency” will
stop because fake currency printing for less value notes will not be viable.
What will happen when Banking Transaction Tax (2% to 0.7%) is implemented?
1) As on today if BTT is implemented
Govt. can fetch 800 x 2% = 16 lakh crore whereas current taxing system is
generating less than 14 lakh crore revenue.
2) When 50% of total transaction will be
covered by BTT sizing 2000 to 2500 lakh crores, Govt. will need to fix BTT as
low as 1% to 0.7% and this will boost again banking transaction many fold.
3) No separate machinery like income tax
department will be needed and tax amount will directly deposited in
State/Central/District administration account immediately.
4) As transaction tax amount will be
very less, public will prefer it instead paying huge amount against
directly/indirectly 56 types of taxes.
5) There will be no tax evasion and
Govt. will get huge revenue for development and employment generation.
6) For any special revenue for special
projects, Govt. can slightly raise BTT say from 1% to 1.2% and this 0.2%
increase will generate 4, 00,000 crores additional fund.
Effect of if
implemented today:
1) Prices of all things will come down.
2) Salaried people will get more cash in
hand.
3) Purchasing power of Society will
increase.
4) Demand will boost, so will production
and industrialisation and ultimately more employment opportunity for youth.
5) Surplus revenue to the Govt. for
effective health/ education/ infrastructure/ security/ social works.
6) Cheaper and easy loans from banks,
interest rate will come down.
7) Tendency of society will changes from
scarcity to quantity.
8) Spare money for political system for
clean politics,
9) Prices of land/ property will come
down,
10) No need to export beef to cover up
trade deficit
11) Sufficient fund for research and
development.
12) Society will be free from “Bad
elements”.
