![]() | #2236 | |
Distinguished - BHPian Join Date: Apr 2013 Location: Beans Town
Posts: 1,848
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This move reminds me of the Running Man movie, the host exposes the hoarders and the public cheers loudly proclaiming that "the devils shall run whence they came". I've no doubt that disparities in income has always been a major issue, but this move isn't going to solve that because it has affected every class of people equally. My theory is that the rich (who may have a considerable asset base which is in some portion, undeclared), are the key drivers of the luxury market. The luxury market hires and pays normal people to do their job so that they can take home their blue-collar earnings and support a family. Cash has to be readily liquid, readily accessible and has to have a certain "discretion" when spent in smaller quantities, that is when it is effective in churning the economy. Money was, is and will ALWAYS remain an imperfect concept. The government misuses money and generates black, the banks misuse money, the people also misuse money - FACT. You've pointed out at creating jobs and ensuring a stable working environment for the generation of tomorrow so that crimes, and anti-social activities do not grow any faster that they already are. You are right and that is a level of thinking beyond the obviously promoted "corruption is bad" movement, which is also valid but is a base thinking. I go yet another level above to say that the governing bodies must act NOW, before its too late, in matters of honest, good infrastructure, i.e good roads that do not peel off in one monsoon, renewable sources of energy in the power department, water conservation and ensuring reach of water, cleaning up lakes, ensuring organized plantation drives, forest conservation, ensuring tighter and more honest, transparent laws which consider more than just the factor of "wealth" of the defendant, and a flexible, single taxation system which doesn't put so much stress on the limited tax-payers of the nation (which may start with GST). They should incentivize tax-payers and also start a national insurance scheme just for the honest tax-payers than flog them and spit on them. My opinion, I don't expect anyone to agree nor I expect them to become reality. Let's get back to the cheering now. Last edited by dark.knight : 21st January 2017 at 11:51. | |
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![]() | #2237 | |
Senior - BHPian Join Date: Jul 2009 Location: Pune
Posts: 2,665
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One missed recommendation is the development of human infrastructure via health and education. Everything else needs that as a foundation for things to be sustainable and cannot progress faster than the speed at which the foundation gets built. Whether they become reality or not, I can't see a way forward in their absence, and I am not seeing any real forward progress on any of them. Meanwhile, the distraction of this farce. Last edited by Sawyer : 22nd January 2017 at 07:05. | |
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![]() | #2238 |
Senior - BHPian Join Date: Dec 2008 Location: Bangalore
Posts: 3,041
Thanked: 3,710 Times
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![]() | #2239 | |
BHPian ![]() Join Date: Mar 2011 Location: Ludhiana
Posts: 757
Thanked: 640 Times
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![]() Guys don't be disappointed. Just be aware and vigilant about more scrutiny. And hire good accountants and lawyers. Or consider these professions as career options if you are about to enter the work force. ![]() Personally I'd like people to spend more on better doctors and better healthcare. But I'm biased. | |
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![]() | #2240 | |||
Distinguished - BHPian Join Date: Apr 2013 Location: Beans Town
Posts: 1,848
Thanked: 8,314 Times
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This is very, very essential. Following the law to its finest interpretations is the first step, second step is to keep the most talented, twisted yet loyal chartered accountants and lawyers. Otherwise one is going to get eaten up alive in this Orwellian society. | |||
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![]() | #2241 | |
Senior - BHPian ![]() Join Date: Dec 2007 Location: Gurugram
Posts: 7,940
Thanked: 4,690 Times
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Spend on better healthcare & doctors. Excellent, but who pays for it. Unless you have more surplus / reserves these things are not possible. remember the days of liberal spend and spend Keynesian economics are long over. Today you need to smell the cash before committing it. | |
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![]() | #2242 | |
BHPian ![]() Join Date: Mar 2011 Location: Ludhiana
Posts: 757
Thanked: 640 Times
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![]() | #2243 | |
Senior - BHPian Join Date: Jul 2009 Location: Pune
Posts: 2,665
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IMO, just one example of the empty sloganeering that proliferates these days. And we are caught up with GDP growth percentages, with no sense of the extent to which this is adding genuine jobs. For instance, I remember reading recently that in the last decade or two, banking business transactions/volumes have increased 10-15 times, but jobs in that sector have gone up by less than 10%. That is where the jobless growth concerns come from, because with automation and productivity improvement drives, something similar is happening in manufacturing as well. So, where do we see 250 million new jobs coming from? I don't have the answer, but the country needs to find these answers and start acting on them, fast. On a war footing, IMO. My last off topic post on this subject in this thread. | |
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![]() | #2244 | |
Senior - BHPian Join Date: Dec 2008 Location: Bangalore
Posts: 3,041
Thanked: 3,710 Times
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Site: www.makeinindia.com | |
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![]() | #2245 |
BHPian Join Date: Apr 2007 Location: delhi/milan/brussels
Posts: 43
Thanked: Once
| ![]() Not sure to what extent this is true but an interesting read nevertheless: http://www.globalresearch.ca/demonet...n-cash/5570305 |
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![]() | #2246 | |
Senior - BHPian Join Date: Dec 2008 Location: Bangalore
Posts: 3,041
Thanked: 3,710 Times
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https://www.quora.com/Journalistic-E...lobal-Research | |
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![]() | #2247 | |
BHPian Join Date: Oct 2005 Location: @ Driver's Seat @
Posts: 704
Thanked: 104 Times
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Something to chew on from Horse's Mouth http://www.firstpost.com/business/ta...y-3215860.html Quote:
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![]() | #2248 |
BHPian Join Date: May 2008 Location: Bengaluru
Posts: 387
Thanked: 1,226 Times
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Also mentioned in the blog: http://norberthaering.de/en/home/27-...-role-in-india http://norberthaering.de/en/home/32-...65-pot-of-gold |
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![]() | #2249 |
Senior - BHPian ![]() | ![]() Something I had hoped not to happen, but feared it might, since the probability was quite high. My wife just called me saying she found an envelope somewhere from the cupboard, with old 500 notes totaling 4000. The last news I read on it is that only NRI's/people outside India during Nov/Dec will be allowed to exchange these from RBI branches, that too limited to just 5 locations across India. Was there any update to this? Can I still get these exchanged even though I was very much in India and I am not an NRI? |
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![]() | #2250 |
Senior - BHPian ![]() Join Date: Dec 2007 Location: Gurugram
Posts: 7,940
Thanked: 4,690 Times
| ![]() @vinit.merchant; I must say I am surprise at the discovery of a packet with old notes. My wife and I searched our stashes and came up with all the cash, adding up to about ₹213,000. We went and deposited all of it in my account in one go around 12th November. We had done an extensive search and found nothing else. Our son found all of 38k and deposited it around the 5th December. Not surprised since Gurugram is almost totally cashless, even a panwallah accepts plastic. They need the cash to pay their cleaning maid, and car cleaner and not much else. |
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