Smita Pani: [World Malayali Club] Democracy!!!!

Monday, 1 August 2016

[World Malayali Club] Democracy!!!!

Democracy!!!!!!!!!!!

Do we deserve Democracy? Democracy means, open and sane discussion, so that a rational opinion for societal action takes place. For that the people shall not be terror stricken. It may be religious terror, region based terror, language based terror or even worse the blackmailing black money economy terror or the demoralizing income tax terror....

Today the only method of democratic battle in our country is to organize bandhs, vandalism, sloganeering, rioting or worse. Of course the most effective is the behind the scene wire pulling, unholy agreements, horse trading, party defecting, political dynasty promotion,sychophancy as the ticket for political power...

For these one must manufacture grievance groups, finance destructive agitations (there appear to be mafia businesses, which burn buses or destroy public property or organize riots for standardized fees) ---the lawlessness is standardized.

Against this great stonewall of black money economy with these lawless foundations, democratic debate has to break its head. We have the most ineffective Judiciary—the posts of Judges are always vacant, the five star lawyers always employ the method of delay by prolonging cases for years and years, no witness protection...

Now a very ordinary person, I have been trying to convince all about the drift into the economic abyss we are heading. If banks and banking are not saved, I need not describe the consequences.

The rate of inflation is many times more than the rate of interest on fixed deposits. There is no income there; in fact it is cutting into other incomes, by the loss generated by the excess of inflation over the interest. The principal in terms of real value is getting reduced again because of the inflation. The most terrible of all because of the sky rocketing of the price of land as a permanent feature because of the increase in population and the resulting shortage of land, the value of money relationally is simply crashing in that field. Fixed Deposits which are tied to an unchanging numerical figure are simply getting wiped out in real value and are becoming mere scraps of paper.

My God, this fake income or the corrosion of income and also property, the loss is both ways, the euphemism---interest on fixed deposits, is actually added to the taxable income to bloat the income tax bill, and thus over tax the other incomes like salaries and pensions. And we have no safe saving avenues for open and honest saving.

As a result the black money economy has become the protective shelter, performing an essential survival function. In fact our economy has become completely the black money economy. We are making Democracy function in this dishonesty based day today life!!!

Now NPAs by the lakhs of crores are written off.Coinsiding with this generous largess, the income tax department has launched a hunt for the tax evaded fake income of the previous years, with the condition that there will be no punishment if a fine of 45 per cent also is paid.

What will happen to banking in India?