Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Tuesday 10 May 2016

TAX HAVENS CAN BE MADE OBSOLETE


Dear Expert  Economists :


I read about recent London Summit , from where you sent a letter to World leaders , arguing :

" Tax evasion weakens both developed and developing economies and drives inequality "

You went on to demand that the veil of secrecy that surrounds these tax havens , be lifted

While hoping - and wishing - that your letter not only gets read by these World leaders , but also gets acted upon , allow me to suggest another parallel measure ( my yesterday's blog below ), that has the potential to eliminate ( or at least , vastly reduce ) tax evasion

In different wordings , I have sent my several earlier blogs on the same subject to several cabinet ministers of India


hemen  parekh
www.hemenparekh.in  >   Agenda for Reforms
Marol , Mumbai , India
( M ) +91 - 98,67,55,08,08

PS :
I would appreciate your views on the feasibility of my suggestion
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Currency    Maps    of    India  ?

When in 1949 , George Orwell wrote his all-time classic " Nineteen  Eighty  Four " , he had not envisaged Tablets / Smart phones


So , he imagined that TV screens would keep a watch over mankind , 24 hours , like CCTV cameras


Nor did Tim Berners Lee , envisage  IoT ( Internet of Things ) or BIG DATA analytic tools ( MapReduce / Hadoop), when he invented World Wide Web


And neither did Robert Easton , envisage RFID sensorswhen he invented GPS in 1967


But today , with wide-spread usage/application of these technologies, it is not difficult to envisage :


 CURRENCY  MAPS   OF  INDIA


No doubt , all of us have seen following types of Maps ( for India / Asia or for the entire World ) , on TV Channels and even on our tablets and smart phones  :

#   Weather Maps , showing :

      *  amount of rain fall ( inches / mm )

      *  location wise temperature intensity ( *C / *F )

      *  topography ( heights of mountains / depths of valleys )

      *  Cloud Formations and direction of Storms and landfall locations

      *  Wind Patterns ( velocity in km per hour )

      *  Ocean Currents in Atlantic / Pacific ( direction / speed )

      *  Ice Cover over Antarctica / Arctic Region ( sq km )


 #   Space Maps , showing :

      *  Geological formations on Moon / Mars / Mercury / Asteroids

      *  Night illumination in different parts of world as seen from Skylab

      *  Galactic formations , billions of light years away


And of course , Google Maps of all types ( including those peering into our bedrooms ! )


Given this state of art ( and of science ) , it is not difficult to envisage ,
following types of  CURRENCY  MAPS  of INDIA , showing aggregate value of Rs 500 / 1000 Currency Notes ( ie :currency density of Rs 1 million / 1 billion / 1 trillion / any figure of your liking ! ) in :

*   Any given Street / City / State

*   Premises of any Car Dealer / Jeweler Shop / Real Estate Agency / Mall /
     Race Course / Builder ( any office / housing location of your choice )

 *  Any Airport ( a million Rupees in Rs 500 notes weigh only 2.2 kg ! )

 *  Any Safe Deposit Vault of any bank


With the existing technologies , it is even possible to plot the movement of Rs 500 / 1000 currency notes ( just one note or a thousand notes ) on a GPS map of India , to determine its direction and velocity ( Currency Currents )

In real time , too -  24*7  !

All of the above is possible to achieve within  6 MONTHS  , by :

*  Abolishing existing paper notes of Rs 500 / 1000

*  Replace these with plastic notes , embedded with RFID sensors

   ( can be embedded into existing 3 mm silver-colored  security wire )

*  Allot a unique IP V 6.0 address to each such note linked to its serial no
*  Develop / host a Technology Platform , based on GPSmapping system
   
*  All smart phones to carry GPS locator ( cannot be switched off )

  (  anyone carrying a Rs 500 note in wallet , also carries a Smart phone ! )

Of course , Currency Map App ( to be named, " Currency-Cure " ? ), available to general public on their smart phones , will not be able to zoom-in / drill down , under 1 sq km area, to protect individual privacy ( this can be done , only by authorized officers of Income Tax Dept / Enforcement Directorate )


If some of you think my suggestion is impractical , consider following :

A division of Master Card ( called , MasterCard Advisors ), aggregates and analyzes every day , 65 BILLION transactions from 1.5 BILLION card-holders in 210 countries , in order to divine , business and consumer trends !


And only 2 days back , Shri Raghuram Rajan , RBI Governor said :


"  It is because money has no odour, because it is the great equalizer , that so many people across history have been able to acquire resources and invested them to make the world we live in

Rather than prohibiting the use of money and wealth , let us think about increasing society's tolerance for its use "

Today's Hindustan Times quotes a Income Tax officers as follows :

"  The taxman will soon start matching your IT returns with your possessions

The Government has started collecting data from various sources and when this is done and the data has been sifted through , action will begin

This drive is a salient feature of the tax department's agenda to curb under-reporting of tax and expand the tax payer base in the country "

And two days back , the person who leaked PANAMA  PAPERS ( 11.5 million digitized documents ) , remarked :

"  Digitization will bring in a revolution "


I would like to add :

RFID sensors in Currency Notes  +  IP V 6.0 URL +  GPS+  HADOOP  } ,

will end BLACK MONEY and CORRUPTION , in India

( without needing to pass any bill in Rajya Sabha ! )

I do hope , Shri Arun Jaitley-ji will take note !

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09  May  2016
      




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