Jose Thomas

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Wednesday 16th November, 2016



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What an amazing week!!

The Indian Prime Minister’s magic of demonetization and the dramatic win of Donald J. Trump, President Elect, United States of America. It was such an interesting week for me as I was mostly glued to the television watching many debates and loads of news coverage.

In this blog I am going to focus on the “Modiji Magic” which really drew world attention from many angles – positive and negative. Before I write about my views, let me congratulate our great leader and visionary, Prime Minister Narendra Modi. At the same time, I would also like to congratulate Donald J Trump, President Elect, United States of America. While I wanted to write on both topics, considering the limitations I have on the content, in this blog I will be writing about the subject of “demonetization in India”. What I am writing here is purely my own opinion and all of you are free to make your own judgment. According to me this is the best thing that has ever happened to our country since Independence. Even though this came a bit late, I am glad it has finally happened. All it took was a leader with a vision, commitment and love for the nation. A leader who understood the need to grow and nurture a nation rather than trying to be a politician and hang on to power forever. I think Modiji deserves something which is more than just a praise. God Bless him!

Unfortunately our image as a nation was poorly viewed by the rest of the world. Everyone thought that nothing could happen in India unless we did things including corrupting people and the system. I am sure that all of you are aware that our systems and policies got abused by international and domestic operators which has only hurt our country and never helped us in any way.

I think the system of hoarding black money directly led to corruptive practices. I must believe millions and billions of Rupees were being created through the black money process thereby creating a parallel economy. In addition to all this, some miscreants took advantage of the situation, introduced and distributed fake currency as well. I know it is bad news for many and good news for a few.

I am aware of the fact that the general public, especially the working class have really suffered and lives have been thrown out of gear. Sitting here in New York, I was watching what was published in India and I was shocked to see some of the images.

It reminded me of post 2nd World War when people had to stand in line for meeting their basic needs. I personally believe if a bit more planning had been put in place, the hardship on the common man could have been reduced. Anyway, there is no point in discussing that now as it has happened and now we should stay focused on a positive note about this change that happened to our country.

I am a victim of selecting to do business in the right path and perhaps that is one of the reasons why I could not grow my company to the top 100th businesses in India. I always believe in compliance and never indulged in trying to bribe and get anything done. As some of you know, I am also in the real estate business but unfortunately I could not grow this business the way others did simply because no one wanted to do land transactions with my company. I guess you know why. We always kept saying “no” to wrong practices. I know we paid a price to be in compliance and created a company with high degree of ethics and today I feel very happy and proud that I did not have to exchange or surrender a single bill, be it a 500 or a 1000 Rupee note. We all need to become responsible citizens in complying with the law and that is the only way we can be a better Indian. People don’t want to pay taxes and we blame the government for poor infrastructure and lack of technological enhancements. I am not writing this blog as if I am sitting by the Government. I am a citizen like you trying to put some sense to our fellow men that at least going forward we should not follow our past practices of creating a parallel economy by hoarding cash, and that too, not accounted for. According to me, the Government is taxing us on income and expenditure and this is very unfair. The high taxes on income and expenditure is what took our system to where we are at now. At least going forward I hope our law makers will amend our taxation policies to encourage the public to pay taxes thus creating a stronger India.

According to me the following five topics will be the result of the action initiated by our Prime Minister.

  • We will see a drop in inflation, which is going to help the common man.
  • Interest rates will fall
  • Property prices will stabilize.
  • Infrastructure will improve.
  • World perception on India will change, leading to improved ratings.

While above are the few benefits I see, there could be a lot more benefits.
My heart goes to all the people who are suffering on account of this abrupt and harsh decision. I believe there is always a price to pay for “change” and “change is inevitable”.

Let’s make India a great nation together!

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