Day 6 – Poor execution of demonetization
Verdict on Day 6:
– Modi failed on execution (visit to Japan, bad move)
– Flat tax on deposits was an option
– Many other ways to skin this cat, Rwanda, Kenya, Scotland use Mobile Bank Vans since past 10 years, could have been used to reach remote hinterlands to exchange old notes by show of Aadhar/ Voter ID card etc.
– Thousands of innocent people died as private doctors and hospitals refused to treat patients with old notes
– Modi not apologetic and does not blame his poor execution either
– Only people using credit card / e-banking / wallet and armchair philosophers can empathise with antics and charming and charismatic spiel of Modi
One parallel way to reduce corruption from India:
Modi ji spoke about checking records since Independence of India in his speech. Right. Check the nexus of Industrialists during licence raj with political establishment and how hard they tried to prevent MNCs. Check Bajajs, Tatas, Ambani. Jail 3-4 top billionaire industrialists. Jail 3-4 MPs. Within days notice Tax Compliance across the board, though execution is quite hard. Modi could have declared emergency and declared martial law and should have moved select high profile tax offenders to prison without hassling the other 124+ Crore citizens.