Dealing with Black Money - Wish No: 6

September 18^th 2019 - PMOPG/E/2019/0560897

Subject: Dealing with Black Money

Dear Respected Prime Minister Modiji:

At present Black Money is the grease that keeps the Economy moving. It does not matter what the COLOUR of money is as long as it creates JOBS.

Black Money can be slowly squeezed by making it difficult for parties to horde cash. This can be done by monitoring large purchases that are made in cash. This will also reduce large Hawala transactions.

All the Malls and shops we see were financed by Black Money. As a result a lot of Jobs have been created. This is good. The IPL was funded by money pouring in from overseas. Once the Black Money surfaces, it will provide the base for Taxation.

Rather than penalizing Black Money, the preferred policy is to facilitate the surfacing of Black Money so that it gets put to productive use.

Let Forex come in unrestricted. Sequester part of it as five year Masala Bonds, payable in Rupees at maturity. This will help the Nation's Forex reserves.

With demonetization a lot of “ghost” medium and small businesses conducting business with just cash shut shop. Allow them to surface and enable them to conduct business legitimately once they surrender themselves.

The Rs. 2,000 note serves primarily fraudsters. The sooner it is removed from circulation the better. Demonetizing the Rs. 2,000 note would be even better.

Time is the essence. I hope these measures are enacted expeditiously.

Regards,

Rajan Shastri

Jai Hind,

Bharat Mata Ki Jai,

God Bless India,

Bharat Zindabad,