Anil Bokil. Photo Credit: Mumbai Mirror
When PM Narendra Modi announced his government’s decision to demonetise Rs. 1000 and Rs 500 notes on November 8, Pune resident Anil Bokil was quick to claim credit for having provided the inspiration for the scheme.
Bokil has claimed that the prime minister was so enthused with his idea that the 9-minute appointment granted to him in July had stretched to two hours.
But with the scheme causing untold suffering to millions across the country, Bokil has now claimed in an interview to Mumbai Mirror that the current mess was the result of a “selective” implementation of his idea. Bokil also told the Mumbai Mirror he was on his way to Delhi for a fresh meeting with the PM but the daily could not confirm the same with the PMO.
Bokil told the Mirror his think tank had proposed a comprehensive 5-point plan of action which were as follows:
1: Complete abolition of taxes, direct and indirect by the Central or State governments and also the local bodies.
2: The taxes to be replaced with Bank Transaction Tax (BTT), wherein every inward bank transaction would attract a levy (say about two per cent). It would be a single point tax deducted at source. The deducted amount would go into the government kitties at various levels (Centre, State and Local, broken up in perhaps a ratio of 0.7 per cent, 0.6 per cent and 0.35 per cent, respectively). The concerned bank will also get a share of say another 0.35 per cent. Of course, the BTT rate would be decided by the finance ministry and Reserve Bank of India.
3: Cash transactions (withdrawals) would not attract tax.
4: All high denomination currency (anything above Rs 50) to be withdrawn.
5: Government to create legal provision to restrict cash transactions to Rs 2,000.
According to Bokil, if all these were done together, it would have not only benefitted the common man but also changed the system completely. He lamented the fact that selectively plucking just two out of this 5-point plan by the Modi government has resulted in the “death [of the plan] we are witnessing”.