3 ms·
I did not vilify cash in any way in my argument. I just stated my (little, unscientific) hypothetical analysis of the existing underlying situation. Ofcourse,
by rohan_shah 7y ago
I did not vilify cash in any way in my argument. I just stated my (little, unscientific) hypothetical analysis of the existing underlying situation.
Ofcourse, getting rid of cash is very helpful to a "government" or "state" in collecting taxes, tracking as well as negative interest rates (even though I hope that is far away for India).
But cash also helps get rid of corruption and any government which itself exists on the basis of black money will never do anything against black money which is what a factual analysis of the previous government will tell you.
And the cash earners who earn too less to be taxed should be helped to get out of poverty which is only possible when they get a bank account and receive the money via direct benefit transfer which was meant for them instead of political goons.
So it is no myth that the money Indian government was spending for the poor, never reached the poor and one of the reasons was because it was cash. And if we do not vilify corruption, I don't think any positive future is possible.
*Not that the current government is white-washed and exists without black money, but the previous simply wasn't interested in solving the problem.
- sifar 7y agoI did not mean that about you, but in general. Sorry if it came across like that.