R Sasidharan
When I heard you during your election campaign for the parliamentary elections in 2014, I just dismissed it as another rhetoric by an aspiring politician…. I am referring to your vow of eliminating black money, the so-called parallel economy running in the country… rather, running the country. You had also promised to bring billions of dollars of black money stashed in Swiss Banks..!! I had laughed it off.
But, I was taken aback with shock of disbelief when you have announced withdrawal of 500 and 1000 currency notes from the circulation abruptly. Literally, I jumped out of my chair and started applauding and said “Yes, here is a man who does what he preaches”…!! And, for the first time, I felt that my vote has not gone waste.
Then, all the drama started unfolding, one-by-one.
The Enforcement Directorate, which used to work as and when some political opponent like Mr. Kejriwal needs to be harassed, swung into action and they smelled out black money from every nook and corner of the country as if this was the first time they came to know the existence of black money in the country. The kings of black money ran helter-skelter to hide under their own skin. I felt proud being an honest tax payer.
Then came the announcement of the release of Rs.2000/- currency notes!! I wondered, why Rs.2000/- when the high denominations are believed to be the backbone of black money. The Finance Minister took great pains to explain the logic behind Rs.2000/- notes, which I could not digest.
Then the Finance Ministry and the Reserve Bank of India started spewing out the hell on the common man by eating their own words every day…. nay, every hour, to be precise. Utter chaos across the nation..!!
Stung by the demonetisation bee, the Opposition parties, no..no.. Opportunistically positioning parties, who were as good as dead till then, could see an opportunity in the troubled waters and took no time to jump into the trade they have PhD….. mud-slinging, which they did with utmost perfection. This was too much for the Government.
Then came the announcement from the FM…. Was it an announcement? No, it was a whisper in to the ears of the above parties. Banned currencies can be donated to the political parties and no questions will be asked!!!! The cry of ‘foul… foul’ by Behanji Mayawati, Mother Mamta, Grandpa Sharad Yadav, etc., etc., was nowhere to be heard after that!! What a sixer, Mr. Prime Minister…!! My heart sunk on that day, Mr. Prime Minister. I could see you as one among the crowd.
Then the slogan changed from eradicating black money to cashless society. I still felt good but wondered how on earth this will be implemented in a country where a huge chunk of population reals under poverty and live in places not accessible by normal mode of transport. The Prime Minister and his comrades started giving gyaan on online transactions using credit card, debit card, Paytm, BHIM, etc. I went to the Petrol Station and bought petrol with my credit card. He charged me Rs.25/- extra + service tax on this amount… forcing me to pay Rs.28.75 extra for one transaction. I wondered, what the hell is happening in this Country? On the one hand, the Government is shouting from the rooftop urging me to go for cashless transactions and on the other hand, punishing me for co-operating with it..!! I started cursing myself.
As if rubbing salt on to the injury, now the banks have announced that they will charge me from Rs. 5/- to Rs.150/- if I withdraw my own money deposited with them..!! This is the height of mindlessness on the part of the Government, on the part of the Reserve Bank of India.
What do you want me to do, Mr. Prime Minister? I should not use cash…. I have to pay for withdrawing my hard-earned money…. I should use my credit or debit card, but have to pay extra for using them…. I should believe and vote for people like you to be in power….. I should do everything that you say and make my own life a HELL..!!
Are you really serious about a cashless (or a less cash) economy, Mr. Prime Minister? Or is it another rhetoric that we have heard during the last 70 years?! Your words and actions do not match, Mr. Prime Minister. Please watch out. 2019 is not far…………..
Jai Hind….!!
Whats wrong with the topic ?
Why people thinks Tax guru is not supposed to publish this and this is not academic ? !!
Not sure whether all the content is fact or mixed water, still the topic is worth to discuss.
If anyone sure the content is exaggerated, please point out
Is it a right forum for this topic???
Taxguru team has been publishing great academic contents over the years. This is first time I am seeing such content.
The results of elections just concluded in 5 states are sufficient to prove you are far away than what Bharat thinks about this particular issue.
Good article Mr. Sasidharan. If I use my debit card for filling petrol of Rs. 200/-, a minimum of Rs. 23./- is debited as usage charges + service tax from my account. Then, why should I use my debit card as I am not a politician / businessman, but a poor senior citizen. Rs. 25/- is quiet a big amount for me . So I discontinued using my debit card for filling petrol or other places where they mention of extra charges.
Well stated. To uproot the parallel economy the difficult standards required
– cashless transactions should be allowed rebate of tax. no charges as self service reduce cost to bank.
– Timely or before time depositing tax & filing e-returns/ reply be honored by rebate.
– PMO/ FM should ensure that heavy penalties be imposed to defaulters & imprisoned.
Congrats for excellently writing the bitter truth with independent unbiased mindset.. We all have faced and are still facing the trauma every day. Millions out of job; Hundreds losing even life; Every business / sector and person got adversely effected But PM & their statistics say GDP increasing??? May almighty bestow wisdom to those in power to see and realise the truth.
Nice Article…even though not exactly knowledge sharing but still talks about the current mind-set of a common man !!
Such type of biased article should not be printed on Tax Guru. If you want to have a voice against Prime Minister, Mr R Sasidharan, please write to him directly. He is available on various social media. You can post your views there.
In My openion, I have seen unsecured Mudra Loan of Rs. 2,00,000 being given to the needy businessman. Was this happening before ? Unsecured Loan available @ 10.75%. AT what rate unsecured Loan is available ? Can you answer this question Gentleman ?
If money is taken away from poor and if it is given to poor and new business merchants what is wrong in this ? Yesterday, we cleared on Mudra unsecured loan of Rs. 3 lac..Another 10 files are pending with SBI for 5-10 lacs only.
Even farmers are getting loans @ 1%…..Which class is getting benifit and who are not ? Think of it once again and get answer from your own self.
My dear Professional friend instead of making another drama on this issue, please open a bank account with any Nationalized bank and you can even withdraw daily without any limit and charges. Also when you write as a professional you should be 100% sure of the facts. Please for our knowledge show a govt. circular to this effect for which you can blame the Govt. and the PM who is a favorite of all his opponents. Last but not least you better vote for some other better person who suits your concepts and ideologies so that you need not waste your precious time in writing such baseless articles which otherwise could have been utilized for earning more money and then withdrawing in cash from the banks you like.
Regards
Well written Mr. Sasidharan. You have woken up to the reality, better late than never.
You will be seeing worse things to come after the mid-term poll results.
The best thing to do is to withdraw the entire salary as soon as it is credited by the employer. The paltry 4% interest given on the SB Accounts should not make a big difference considering the bank charges we are required to pay on various transactions.
I am glad to see people like Mr. Sasidharan waking up slowly and reacting. It is indeed a good sign for the Indian Democracy.
I Think what is in mind of Center gov. in regard cash transaction or cashless transaction , but it is fact common man are harassing very much because they facing difficulties to take out their own money for daily needs, banks are not behaving properly and peoples not understanding , how to react banks authorities or center gov.polices, look by RBI for their credibility at present situation
Are you giving your Political view. see the Size of India one honest men with unmoved burocracy trying to do
I am regular reader of Taxguru and in turn taxguru have lot of respect and credentials. Taxguru need to check thoroughly that it remain a konwledge sharing continute to or command same respect and credemtial. If this kind of political motivated non sense articles start appearing on this site then Taxguru will take a bof hit in its credentiam followed by reduction in its readership and viewership.
Hence Request Taxguru to keep your site as a knowledge sharing platform not a dirty political platform.
Thanks:
CA Sandep Khare
I cannot but agree totally with the author. Definitely my vote is NOT for the Government in 2019.
Honest people, who cannot afford costly litigations, are harassed whereas rich and influential will engage counsels till their death,
I wonder Which petrol station charges extra Rs 25/- for credit card swip?
very nice and neutral article. atlleast some times taxguru. in shows genuine views.
Well said Mr. Sasidharan. I appreciate you expressing candidly on what all citizens experience but don’t express as this was launched by Mr. Prime Minister!
VERY GOOD ARTICLE ” ARE YOU SERIOUS MR.PRIME MINISTER” ACTUALLY IT HAS BECOME A JOKE NOW A DAYS RBI IS MINDLESS AND KATHPUTALI OF PM. THEY ARE LOOTING THE POOR AND MAKING MONEY TO FULFILL THEIR PARTY FUND AND ENJOY . IN 2019 THERE WILL NOT BE MODI SARKAR PL BE NOTED.