Arthakranti – a movement to make India prosperous
Whether you call it an idea or a movement, Arthakranti aims to solve India’s problems. Their plans may or may not be workable, and they are still only plans which cannot be implemented unless the government gets involved. Even then the idea is worth thinking about.
Two of Arthakranti’s proposals:
- Abolition of taxes except for Customs and Import duties. The government makes money via a bank transaction tax on receipts. The bank will get its percentage too.
- Currency compression by ensuring that the highest currency denomination is Rs. 50/-
The currency compression idea seems a sensible one because by the standards of some other countries India’s Rs 1000/- rupee notes seem quite unnecessary. As most Indians do not use thousand rupee notes I am not sure exactly why our government prints notes of such a high denomination. Perhaps the government is doing it to save on cost of printing notes or maybe they want to haul large amounts of cash from one place to another or want to facilitate the same for businesses!
Here is a chart which compares the ratio of per capita income to currency note denominations of different countries.
If Rs 50/- is made the highest note, most of us will be forced to use the banking system (the advantages of which are explained in the diagrams below). Lower denomination notes are also a way to reduce fake money as printing fake currency will not be profitable for our enemies.
Here are few visuals to explain the effects of the Arthakranti proposal.
Here is another one:
The people at Arthakranti agree that there is no magic wand to end corruption as it has now become a way of life. Corruption is easy today as it goes mostly undetected and unpunished. It has taken on the shape of a virus and it will take time to cure people.
Interestingly they have addressed a serious problem confronting our country today. Terrorism. Here are some visuals which are self explanatory:
On the Arthakranti site there are also some answers to basic questions like:
On Arthakanti’s proposal, I cannot comment on the viability as I have not studied it in detail. All I know is that the Indian government will never agree to such a proposal. For one thing, they don’t want to rid the country of black money. If they did, they would have not have refused the offer by Germany to provide them the names of the black money accounts. Whether it is for election funds or other dubious purposes, the government is not in a hurry to rid India of black money.
Note: I have not joined this movement and nor have I contributed to it in any way. I also do not know anyone in Arthakranti personally.