Man behind Demonetization Drive Suggested another Proposal

BENGALURU: On 8th of November, Prime Minister Narendra Modi took a very bold step to demonetize the highest value currency notes to curb issues like black money, and fake currency. While most of the public rejoiced the decision that shook the nation, political parties strongly opposed it. As a whole, this decision was applauded by many national and international media houses. The concept of demonetization was a brainchild of Mr. Anil Bokil, Founder of Artha Kranti Prathisthan, Pune. The Business Standard reported that Anil Bokil wants the Indian government to abolish the current tax system.

His meeting was scheduled with PM for 8 minutes, which was further extended to two hours. As PM announced its implementation, he instantly came into limelight and started receiving interview calls from several national and international media houses. He has been working since last 16 years in the movement to eradicate black money from Indian economy.

Afterwards Anil wants government to completely abolish the current taxation system except for import and customs duties. Further, he elaborated his plan by saying that government will have to put only one tax in the form of Bank Transaction Tax (BTT). All transactions above 2000 will have to be routed through the bank and put a tax on that transaction. Later, the bank will have to share the collected tax with central and state governments.

Anil Bokil wants to withdraw all high currency notes and keep highest denomination note to 50. After overhauling the whole tax system, cutting down currency notes in the denomination of 50, and after implementing BTT, all cash transactions will be levied from taxation. He also suggested limiting of cash transactions to 2000 only. These steps which he suggested can make our economy free from black money.

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