Forwarding a post from another group. Arthakranti
Forwarding a post from another group. Proposal seems very simple and logical. Have no clue about finance and economic viability so open to the house to put us wise:_
Anil Bokil , one of the key member of Arthakranti Sansthan was given time to share to PM Modi. He was given 9min for sharing but Mr Modi heard him for 2 hrs.
Arthakranti Proposal
What is Arthakranti Proposal and who hasgiven 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 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 FIFTY SIX 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, 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 where as 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 FIFTY SIX 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 :
(01)Prices of all things will come down.
(02)Salaried people will get more cash in hand.
(03)Purchasing power of Society will increase.
(04)Demand will boost, so will production and industrialisation and ultimately more employment opportunity for youth.
(05) Surplus revenue to the govt for effective health/ education/ infrastructure/ security/ social works.
(06) Cheaper and easy loans from banks, interest rate will come down.
(07) Tendency of society will changes from scarcity to quantity.
(08) Spare money for political system for clean politics,
(09) 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”.
A very nice n simple compilation with logical impact. Worth sharing!!
"ArthaKranti proposal -It will Fully Change India" on YouTube - https://youtu.be/GVfmUmB0bpM more
Anil Bokil , one of the key member of Arthakranti Sansthan was given time to share to PM Modi. He was given 9min for sharing but Mr Modi heard him for 2 hrs.
Arthakranti Proposal
What is Arthakranti Proposal and who hasgiven 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 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 FIFTY SIX 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, 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 where as 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 FIFTY SIX 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 :
(01)Prices of all things will come down.
(02)Salaried people will get more cash in hand.
(03)Purchasing power of Society will increase.
(04)Demand will boost, so will production and industrialisation and ultimately more employment opportunity for youth.
(05) Surplus revenue to the govt for effective health/ education/ infrastructure/ security/ social works.
(06) Cheaper and easy loans from banks, interest rate will come down.
(07) Tendency of society will changes from scarcity to quantity.
(08) Spare money for political system for clean politics,
(09) 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”.
A very nice n simple compilation with logical impact. Worth sharing!!
"ArthaKranti proposal -It will Fully Change India" on YouTube - https://youtu.be/GVfmUmB0bpM more
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Mr. anil Bokil has mentioned all valid points. Few points that I would like mention is that the Govt. whether State or Central, spends more than Rs 5 to recover Re 1. If we calculate the Salary & Perks plus the hera pheri amount, always the Government is at loss. Recent example we can see is about the abolition of LBT for the persons having income below 50 Lakhs. It was observed that the earning of Govt. is more than that it used to be when all were covered under LBT. In short Big Fish should be taken care of rather than catching all small & sundry fish. Second example is of Jewellers' strike & the decisions taken thereafter. The Excise duty imposed was outright rejected by the big jewellers as their underhand dealing would have been exposed & second hand Gold transformation would have also been taken into account. This would have definitely spared the small category jewellers because they do not indulge in unfair practices. Again what I mean is that the expenditure by the Govt. Agencies is more for the small identities than the big identities. Poor small people pay their taxes regularly but still get all types of notices & harassment at the hands of corrupt people. If big shots who evade paying taxes under some or the other garb may be by the help of the Chartered Accountants or their subordinates are taken to task then Govt's revenue will become manifolds. If all 56 taxes are removed then the Government will not have to enrol so many people for the jobs & very few employees will be able to collect & manage the machinery, people will be free from meeting & work done from bad elements or corrupt people. The stress will be reduced & they will be able to manage their Social & Family Life in a much rich way than what is now. Prices will be controlled & there will be no danger of accumulation of Black Money In Swiss Bank/Panama etc. Mr. Modi gave patient hearing to Mr. Anil Bokil for more than 2 hours but now it is his turn to make it implemented as early as possible by considering all pros & cons. Government is not meant to collect more & more taxes but it is to see the welfare of people who are the satisfied lot & always think positive, no feeling of hatred or blaming of one Party by the other Party. more
Jun 16
The real purpose and knowledge of Accounts is tabled by the Arthakranti Sansthan , a Team of Chartered Accountants linked with Engineers . A real accountant know the comprehensive performance of an Accountant in a Factory that comprised by the writer , the Batliboi Advanced Accountancy and practice . I read then and still have in mind . This is why , the comptroller and auditor General of India is the first care taker of Income and wealth of the Indian Union whom also the so called Political leaders staged as simple analysis and assumption . This is why , there must be a different governing body to work for the application and carry of the Constitution of India in its prompt objective , concept and goal of Directive Principles of Rule . We or the Country , India , may not have Modi like Rulers to care suggestions and findings of experts of national interest and hence , it is necessary to have a Separate and full Bench of Supreme Court to work on Constitutional objectives . Since we lost this chance , our Country is dragged and cornered at selfish Business interest . more
Jun 16
I have heard Mr. Anil Bokil in person. Extremely impressive. He has forgotten to mention, tremendous saving of paperwork and man hours. Chartered Accountants may not perhaps like the system. more
Jun 16
