Mumbai, Nov 22: The implementation of the demonetization process has created a chaotic situation across the nation with people punished to stand in long serpentine queues to deposit, exchange and withdraw money. Anil Bokil and his team who had suggested the demonetization drive to slash black money and fake currency, has criticized the implementation as reported by the newspaper Mumbai Mirror.
Talking to media, Bokil said that was held in July a proper plan was laid out for implementation and the government only picked two out of 5 points that he had but before. Bokil claimed that his organisation had made a roadmap regarding demonetization. He claimed if his team’s roadmap would have been undertaken, there wouldn’t have been chaos. His organisation ‘Arthakranti Pratishthan’ has been working on this from the past 16 years since the birth of it and would have ensured a peaceful climate in the demonetisation drive.
The nation has been reeling under severe cash crunch which included abolition of indirect or direct state and central taxes, introduction of the Bank Transaction Tax, no tax on cash withdrawals, legal limit on transactions and demonetisation of higher currency. Bokil said that he will also be meeting Prime Minister Narendra Modi today. However, this wasn’t confirmed by PMO.
5 suggestions of Bokil’s organisation incude:
1: Complete abolition of taxes, direct and indirect by the Central or State governments and also the local bodies.
2: The taxes should be replaced with Bank Transaction Tax (BTT), wherein every inward bank transaction would attract a levy (about two per cent). It would be a single point tax deducted at source. – The deducted amount would go into the government kitties at various levels (Centre, State and Local, broken up in perhaps a ratio of 0.7 per cent, 0.6 per cent and 0.35 per cent, respectively). The concerned bank will also get a share of say another 0.35 per cent. Of course, the BTT rate would be decided by the finance ministry and Reserve Bank of India.
3: Cash withdrawals)would not attract tax.
4: All high denomination currency should be withdrawn.
5: Government should create legal provision to restrict cash transactions to Rs 2,000.