New steps after current situation.

Exchange of Rs.500:Rs.1000 being given new Currency. Govt to take some immediate steps. 1. No cash transaction Rs.1,00,000/- above in all aspects. 2. PAN compulsory for Rs.1 lak & above transactions. 3. Limit withdrawal SB A/c. Rs.50000/-per month. 4. Every SB a/c should be attached with Adhar no. 5. If any purchase made during Financial year from Rs.5lak should be disclosed, (may be no taxable income). 6. Govt office periodically verify cash position of Employees. 7. Govt insist Political parties expenses of Poll with limitations. No paper, No posters, No sound, No stages, No compagain through vehicles. Allow them through TV,FM only.
It's way we have protect after New Notes circulations. more  

I think instead of so many steps as suggested in the post, the most important thing is to change the one's own mindset. Increase right sense and observe utmost disciplined living. more  
Fist the common man has to educated in the right sense - disciplined and knows about responsibility and duty. He is the real hoarder be it currency or common salt. Panicked and chaotic and impatient. Nobody bothers. It is only by stringent measures, the order has to brought around more  
Good suggestions, so lets take them forward to make them reality soon now more  
Make all transactions beyond Rs 20000 compulsorily electronic and linked to aadhar. All electronic transactions should enable:
1. Buyer to get reduction of 0.5% in Govt.due/tax component.
2. Ensure real time transfer of Govt.due/Tax to Govt. A/c.
3. Free seller from filing tax return unless there is a dispute. more  
Are these steps announced by the NaMo government, or, are your (Mr. Venkata Chalam) your wisdom? In any case not a bad thinking.

However, a few things have got to be highlighted at this very time that might render these steps redundant in the following circumstances:

1) This government has not taken steps to plug the loopholes in the rules, procedures, and system of governance that generate the black money. This will re-create the same condition of unaccounted money in the market that we have been experiencing so far.

2) There is a torrent of whispering talk that the BJP government leaked to their cronies in the business and its RSS officers as also the BJP office well before the announcement of the denomination of Rs.500/1000 notes, which, I hope, is not correct. If it is correct, then it will go against the BJP (NDA) government as a measure to eliminate competition from the parties in Opposition because around the next election time they would be starved of the hard cash needed for campaigning.

3) Verification of cash with the employees at the year end, will discourage them to take effective steps to govern diligently.

Still, I am very happy with the current decision to demonetise the currency despite it is causing tremendous inconvenience to the citizens. more  
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