A million dollar question answered! Thank us for this discovery.
Yes, finally Wittyfeed has got the answer to the much enquired topic. So, do you wanna know the man behind this country shaking idea? What does he eat? Where does he live? How old is he? Is he one of the Cabinet Ministers? Does he belong to the Reserve Bank of India?
The ban on Rs 500 and Rs 1,000 was a move to drain out the excess black money from the country and to curb corruption.
The nation wants to know who has given this idea to Prime Minister Narendra Modi. This path-breaking suggestion has moved the complete nation.
Let us find out who the man is?
He was the man to suggest a ban. He said that Rs 100, Rs 500 and Rs 1,000 notes should be banned. The reason he explained was that most transactions in India are done unrecorded.
A mechanical engineer by profession, Mr. Anil belongs to Arthkranti, which is a Pune, India based financial think tank. It consists chartered accountants and engineers. He has emphasized on the reasons behind poverty, unemployment and corruption.
78% of the population of India spends around Rs. 20 in a day. So, there is no need to have large currency notes.
Mr. Bokil was given only 9 minutes to talk to PM Narendra Modi. In these nine minutes he explained his outlook to PM Modi, and to our astonishment, he loved it. The discussion then continued for two hours. Later it has been implemented. Hats off to you man.
Have a look at some of Mr. Anil Bokil's recommendations to PM Modi.
There are 56 types of taxes which should be taken back.
Cheques, demand drafts or online payment.
There should be no tax on cash payment.
Single point tax system. This can be done by having a banking system - Banking Transaction tax on only the credit amount. The limit is from 0.7 percent to 2 percent.
Let us wait and watch the repurcussions this suggestion has for the citizens of India. Fingers crossed!