The quote, “Tear down this wall, Mr. Gorbachev” by Ronald Reagan, resulted in the Berlin wall collapsing and paved way for the reunification of Germany. PGurus is aghast at the way India is being run by 2 Finance Ministers (FM) – the Prime Minister’s Office FM and the Finance Ministry’s FM. With two ministers, one would expect things to move doubly fast but the reality is something else. Will you clear the air, Mr. Modi and tell the nation as to who is the Finance Minister?
Mr. Modi, we love the concept of GST – One Nation One Tax. But there are miles to go before India can claim victory.
GSTN follow-up
PGurus is waiting with bated breath on the follow-up actions with the company Goods and Services Tax Network (GSTN), which has been re-organized as a completely Government owned entity. What about the excesses committed till now? Is there a Comptroller And Auditor General (CAG) audit into its finances? Has the bank of choice for storing the GST collections changed to a Public Sector Bank such as the State Bank of India? Will the Finance Minister(s) clarify?
Several teething issues in the design and deployment of GSTN were highlighted by us in the months past. Have they been addressed[1]? For instance, PGurus was told by a senior officer in the CAG HQ in strict confidence that there is absolute secrecy that has engulfed the GSTN tenders and they have not been privy to any information, forget audit in this regard. What was Hasmukh Adhia trying to suppress from the Nation?
This tender, according to the CAG officer, reeks of many similarities with the tender scam in the Common Wealth Games (CWG) which attracted national attention. The tender was given to a private body in the CWG case also by flouting the norms and the same has happened in the case of GSTN too.
Mr. Modi, we love the concept of GST – One Nation One Tax. But there are miles to go before India can claim victory. First, fix who is the Finance Minister and then make it his responsibility to clean up this mess.
References:
[1] GSTN tender scam – Will Hasmukh Adhia speak now? Why was Rs.1400 crores allotted bypassing the Union Cabinet? Mar 29, 2018, PGurus.com
- Prime Minister Narendra Modi: A Gujju businessman who does not invest his precious time for a losing battle - April 13, 2024
- NIA arrests two accused Shazib and Taahaa in Bengaluru’s Rameshwaram Cafe blast case from Kolkata - April 12, 2024
- National Herald scam: Adjudicating Authority upholds Rs.752 crore assets attached by ED - April 11, 2024
There is nothing like black money it is a perceived terminology used to classify money outside the formal accounting system.It was a childish presumption that people keep black money in gunny bags so demonetisation which only resulted in banks collecting all fake notes in addition to the nascent or dormant money coming back as legal tender. Hence collection more than official circulation.
The real and huge proportion of black money ( if you call it ) is NPAs and institutional kickbacks recycled as Participatory or P notes.
Even the money kept in Swiss banks is really peanuts ( 7000 cr ) out of the circulation and the cumulative assets generation ( money movement from before independence to present ie last 60 to 70 years ) and with the announcements made by the successive government ,only fools and dead will keep black money in Swiss banks any more.So almost 95 % will be legitimate and 5 % unclaimed in the end when the banks declare these transactions to GOI in 2018 ?
As for big business, cannot meddle with them as they are the biggest contributors to the political fundings, which decide who runs the government and how?
It is puritans and therefore childish thinking that a business can be run accounting for all money? GST is equally good or bad for all small or big
And yes why political parties dont want to disclose doners? why
And only a novice will expect people or business to donate without demanding anything in return
Ultimately Bhagwat Gita preaches “Do not bother for the consequences but to do you duty ?)
Sree Iyer I compliment you for asking direct questions to Modi at last. PM is THE head of the government and he and only him is responsible for all omissions and commissions. Jaitleys, Adhias etc don’t act on their own at least in autocratic setups like Modi regime. I can’t fathom as to why Modi is alienating core BJP supporters like salaried, SME, traders in the name of fight on black money. He was and is supposed to bring black money stashed abroad but reports indicate that it has gone up if one were to assume that all money in Swiss bank accounts is black. He is supporting Ambanis, Adanis, MNCs like Walmart, Amazon, Paytm at the cost of small and medium entrepreneurs. Why? Why? Why? Who has monopolised policy making under this government. For whose interest is this government running. Is GST a big maya to benefit biggies like Ambanis and MNCs?