New Delhi: TodayPrime Minister Narendra Modi will wish you Happy New Year, not just in words, but in terms of gifts. When PM stands to address the nation, he is expected to announce a number of measures to make all sections of society happy. The expected announcements are being seen as 'soothing balm' to ease the pain of note ban
The measures that PM will announce are expected to increase purchasing power of the people and simultaneously boosting demand. PM will try to make the not-so well offs happy, especially the poor and farmers. Relief measures are expected for small and medium enterprises.These are the sections which are perceived to be worst affected by the note ban.
The help to farmers and small and medium enterprises will be via the direct benefit transfer mechanism. That is, cash will be directly transferred to accounts. This was expected as PM Modi is against cash transactions. An income generation scheme is on the cards, where the income will be transferred into accounts.
Then PM may announce further harsh measures against black money. An announcement to seize benami property is expected. Then he may also announce new rules under which the entire undisclosed cash seized by investigation agencies goes to Gareeb Kalyan Yojana, without giving chance to cash hoarder to pay tax. This because enough chances have been given to people disclose their hidden income.
There is a buzz that to promote digital transactions, PM Modi take the route of direct transfer benefit to give subsidy for buying mobile phones.
With higher tax collections expected via amnesty schemes, the government is in a mood to share part of the revenues with common man. The idea is to show that the note ban was announced to rob the rich and pay the poor. The government also has the forthcoming assembly elections in mind. (News24Bureau)