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

Saturday 21 November 2015

Making Molehill out of Mountain ?


Making   Molehill   out  of   Mountain   ?

Yes , you read it right  !

How else can you describe the following ?

*   Gold Monetization Scheme managed to garner 400 gms of Gold in first 15 days
     Extrapolate to 100 Kg in a year ( give benefit of doubt )
     How many years to attract all of 20,000 TONNES , estimated to have been hoarded by
     Indian citizens  ? ( Valued at Rs 52 LAKH*CRORES )
     Correct answer : 200,000 years

*  SIT appointed by Govt , managed to uncover ( not get back ) , Rs 10,000 Crores worth of
    black money , illegally stashed abroad by Indians ( approx $ 2 Billion ) , in one year.
    How many years will it take to bring out into open , $ 2000 Billion worth of domestically
    hidden black money ( Gold / Land / benami assets etc )  ?
    Correct answer :   NEVER

Why could be the reason for this outcome  ?

Simple .

There is no power / law on Earth , which can vanquish " Human Greed "
But there is a way to bridge the divide between " Greed " and " Goodwill "
By harnessing the " GREED " to lead India to " GREATNESS  "

By :
*   Abolishing Personal Income Tax ( Revenue loss of Rs 2.4 Lakh*Crores )
*   No questions asked for any amount of cash deposited in Jan Dhan Yojana bank accounts
*   By launching  SPVs for , Infrastructure / Health / Education / Renewable Energy /
     Electric Transport  /  Green Cover Forestry / Affordable Housing / Smart Cities etc
*   No questions asked as to the source of funds invested in such SPVs ( Amnesty Scheme )
*   Dividend / Interest from such SPVs to be directly credited to Jan Dhan bank accounts
*   Introduction of Bank Transaction Tax ( BTT ) @ 2% to yield revenue of Rs 15 lakh*crore.
     With ZERO personal Income Tax , expect official bank-transactions to go up from current
     3 %  to over 80 %  ! Especially with introduction of Mobile Wallets by EVERY bank  !
*   2 % ( out of 27 % ) of GST , to be directly deposited in the PPF a/c of the buyer
    ( This will ensure that all citizens have PPF account )
 *   This 2 % to be used to pay the premium for that person's health insurance

This is , in my opinion , the surest / fastest / least controversial method to :

#   Solve the problem of BLACK MONEY for ever
#   Put that $ 2000 Billion worth of BLACK MONEY to productive use
#   Generate 100 million jobs in 5 years (to take care of addition of 12 million to workforce )
#   Raise GDP to 10 % by 2016-17

Best feature of my proposal :

No need to beg the opposition to pass any BILL in Rajya Sabha  !

India needs a miracle to bring its 400 million BPL ( below the poverty line ) people out of abject misery
Tinkering won't do  !

-------------------------------------------------------------------------------------------------------
hemen  parekh
20  Nov  2015





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