Black Money in India Predictions

Started by Ravi Varma, November 09, 2016, 12:08:23 AM

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Bad loans during UPA regime jumped by 132 per cent as the Congress gifted a whopping Rs 36 lakh crore to corporates during their tenure by waiving their loans.
This gift of ₹36 lakh crore is the actual economic robbery and Gandhis should be thrown in jail permanently for this.
This much money sanctioned in loans and got waived, means those who got benefitted from them can live their entire life doing nothing and also their next 4-5 generations can live super rich in India, without doing anything !!!
Ambani, Adani are few among those who got benefits

Ravi Varma

RBI to raise cash withdrawl limits from all savings accounts to ₹50,000 from 20th feb and unlimited from 13th march.
This will allow many to withdraw cash and again circulate as they did in past. Black Money will come back in new currencies.

Also, banks are pressurising RBI to print currency quickly and remonitise all that was withdrawn in nov-dec 2016.
Banks dont want to keep cash, as they have to pay quarterly interests (from this AY) and It is impossible to give so many loans.
Earlier when banks had only ₹70,000 cr , it was easy for them to handle but still few banks struggled with recoveries.
Now with more than ₹15,00,000 cr (which is 20 times more than what they had before 8 nov 2016), banks want you to withdraw and spend in cash.
Else, they will be forced to give loans to non-elgibile people and most of them will turn defaulters again.

Attempt to make cashless India failed


Almost 3800 years back Chanakya mentioned in his book Artha Sastra : When a person pays more than 5% of his income as tax, he will start hiding money from government
So, atlast one Indian government brought the minimum income tax to 5% and anyone making 500,000 or more (i.e more than Rs 41,666  and less than Rs 83,332 per month) pays 5% (and that too after deductions and exemptions).
This is much better than 25% minimum to 97.5% maximum tax imposed by Indira Gandhi, to create black money in India.
Only by eliminating Income Tax completely and following UAE way, India can stop black money in future.
Else, cash will be withdrawn from 13 March and story will be same.


Today this matter was vanished from base and no one will discuss about this matter. And elections also won through emotions not any economical and general reason will stand. It continue upto 2029. After that generation only concern about what matter is important