It is impossible to run any business in India. My friend closed his packaging industry saying,"harassment by the govt is terrible". Even to get Aadhar card appointment one has to pay a bribe.
Doing business in india is worthlessly lengthy ,tedious and futile exercise if you want to do it honestly; it never changes even if the rulers change ; hence only reflects who benefits out of it; there is only mouthfull of chatter-guy politicos and pseudo-advisers but they are worthless selfservers in the name of intellectual provisioners;
Sirji, Now a days, small business men don't find time to do business except to comply the statutory requirements. VAT Returns, Service Tax Returns, TDS Returns, PF Statements, ESIS Statements, Profession Tax, Advance Tax to name a few are completely done at the deductor level. Sir, it's good to suggest to do business through banks. I haven't seen any body talking of the plight of the business man when a cheque received by him gets bounced. In business, we have to give credit taking PDC's. Didn't see anyone discussing the lengthy process to recover the money, that too not sure of getting the money, irrespective of paying VAT and other taxes in advance. Sir, it's easy to lecture, to do business through banks....you will understand the pain when you get into it. A case filed in 2010 comes up for hearing at 2016!!!! Lawyers Fees, Time spend etc not valued in monetary terms. India is not the metro cities!!! Even in metro cities the Government is unable to provide uninterrupted internet facilities and we talk about internet banking and what not!!!
None of the arguments has any logic . Only rhetoric , hoping and high level talk like Modi . No details to justify any of the points he is trying to defend .
Money that floats are promissory notes.what are old currencies they have no legality.what is new and fresh will hold charm.In business if Investors have to thrive they consider floating money as oxygen.This floating money being valid changes forms from notes to any thing known other forms of current assets essential for business to thrive.Estimates are guess works and are difficult as basic character of Indians being cash oriented is difficult to guess in changed circumstances.whether the present thinking of authoritarian rulers will be an antidote or a solution, time only has to prove.This mid night action will have impact in every walk of life whether properly understood or not.
Considering Hofh alue notes in circulation to the tune of Rs. 14.18 Lakhs crores and amount deposited into the banks till date of Rs. 6/7 lakh crores,it appears that only 2 or 3 lakh crores will not be surrendred as against the betting claim of 12 Lakh CRs.
Biggest issue is not black money as all businessmen will change the business from black to white, they are to pass on the burden of tax to consumers so consumers will be paying more. But no step has been taken/suggested to stop corrupt money which is with govt. servants and politicians. Will they be terminated from the seat they are holding(not suspended). Why Govt. is not dare enough to bring terror in their mind instead of creating tax terror in common man mind. Need of the hour to bring such terror first in politician and then all govt. servants-who are the root of corrupt money.
Re: De-monetisation
by gururaj upadhyaya on Dec 01, 2016 09:16 AM
The termination of corrupt govt. servants will require dramatic reforms in judiciary. Suppose if a govt. servant who is dismissed goes to the court and the issue is stuck in court for 10 - 15 years, the govt. can neither employ a substitute nor it can make the employee work according to their wish. Taking measures to recover the ill gotten money (or making the ill gotten money valueless) is the only option. People like Lalu and Kalmadi have gone to jail and come back. But what happened to the money siphoned off through scams? No idea that brings courts into picture is viable in the current India that we are living in.
Re: De-monetisation
by Vijay Sahani on Nov 30, 2016 01:51 PM
You have rightly said that businessmen can easily convert their black to white. Unfortunately the babus and chaiwalas are unaware of this reality.
Re: Re: De-monetisation
by Aam Aadmi on Nov 30, 2016 03:11 PM
That is why the raids and binami property act have come. You will see more of action from now.
