Some one without brains may have introduced something called KYC norms. This hinders financial inclusion as well as volumes of banking transactions. The concept behind this is to monitor/check/plug illegal monies, money laundering, and graft money. But can any one give evidence that it has arrested any graft money reduction/corruption of day to day life in petty offices/ by petty officials/incpme tax growth/compliance, decrease of income tax compliance-Can any one say these KYC norms have arrested any black money by traders in markets like Troop bazaar (Hyderabad), mass electrical and electronic markets (Hyderabad), Plywood/decolam sheets/begum bazaar (Hyderabad) markets or such markets that every city has, where most people by/sell without any bills? What for these KYC norms? Is it only to harass middle class people to transact with bank without any hassles? Or to feed corruption in tahasil offices/municipal offices etc where one has to give bribe to get address proof like ration card/voter card etc. This KYC norms is ridiculous. If documents (for address/identity check) are to be policing instruments there is no pitiable condition than this. Present UID also will add to corruption by laps and bounds. Remove this KYC see the dramatic increase in Banking transactions and financial inclusion. With out any effort or spending by Govt Fin incl will triple and banking volumes will increase by 100%.
One more scam has came in market as budget 2011-2012. Moto of Normal scam is clearing the fund from govt account but this budget scam is clearing the middle class from this society....
IIM - A , MBA student would have done better job than FM. Corruption, inflation, Black money, speedy legal decisions, Tax avoidance, monitoring of government spending, poor governance have not been dealt in this budget.
Budget review/ monitoring committee should be in place and provide published report once in six months. Is this possible PM?
Re: Highlights of Union Budget 2011-12
by B on Feb 28, 2011 02:54 PM
For all what u have written above FM says " we all have to deal with it"...and for all money minting they will deal themselves...Ask him how can he earn crores of weath in his age...what are the sources of income..
Exemption Limit of Income tax for Comman man is Rs. 180,000/-. I just wonder does this politicians understand what is the bare minimum expenses required to keep family just above poverty line!! Considering expenses towards grocerry : Vegetables; Sugar; Old; Rice; Wheat & Pulses is Rs. 15,000 per month tax free income is sufficient in today's world. Education for Kids are so expensive!!! WHy this idiots talk about growth & future!! Moreover, forget about affordability for Gold & Silver. Minimum Tax free Salary should be Rs. 5 Lacs..
Re: Salaried Person : Issues
by SouravNandi on Feb 28, 2011 02:40 PM
u r right. Because they dont have to think about all expenses.They have lots of black money,everything is free for them and all the expenditure is coming from our money only.
Why necessory to anounce budget every year, when new goverment come in power, why thay cann't anounce budget for 5 years, this is wastage of national resources and enviroment by spending 100 tonnes of paper.
Re: Every year budget
by Mahesh Borkar on Feb 28, 2011 02:41 PM
yes u r right may be they want to earn more money showing expenses incurred for preparing budget. They dont care abt wasting of paper, national resources etc. common people may not be have interest in union budget. Instead of doing budget every year they have to do reduce price of the various goods which are more essential to us.
What a fantastic FM... The food prices are going up and common middle class people are getting seriously affected. But he has reduced the price of Hydrid cars....
Wonderful job FM... You are really very intelligent.
Re: Price of Hybrid cars
by ramesh giri on Feb 28, 2011 02:51 PM
this gov is chore .... we all have to do some thing against thm because all party are choree no one is nice
