#Govt initiative in creation of #security for citizens is the need of the hour post #demonetization

In the last few days, there has been lots of discussions at various platforms regarding #demonetization. However, one very important question that I want to highlight, which probably not got the attention from any quarters, is that why people are in the habit of hoarding money. We cannot change mentality of people, but the root cause if removed, most of the black money will eventually be turned into white.

The root cause is no SECURITY FOR OLD AGE. People #hoard as per their estimation of their requirement in old age. Right from a tea vendor to a multi millionaire, everyone hoards money. Why? It’s high time now that Indian government must realize that to kill the evil of hoarding, enough security has to be created. Had the government made certain provisions whereby whatever is surrendered post demonetization will be released to the person as pension for his own security at the age of 50 or whatever, and by way of support at periodic intervals for children’s education and marriage, I believe, people would have come out of their own. These are the basic expenses for which people hoard money for future. Secondly, the infrastructure development and other public facilities are not commensurate with the #tax burden that a normal citizen has to bear, hence, the tendency to avoid tax is always on the increase. If enough facilities are created, there will be no complaint in genuinely paying tax.

We always look at the west and the developments they have made, but only implementing half way, will not lead to accomplishing the noble objective.

If measures towards the above can be announced, we can really look forward to some good days.