GST, politics, confusion...
Forgive my ignorance on the subject of finance and for the same reason about the true implications of GST also, but with an agro-majority India going through one of the worst agrarian crisis, and the banking sector, including the RBI still struggling to sort out the issues caused by the overnight note-ban -- was our economy actually ready for a hasty GST roll-out, no matter how brilliant an economical revolution it can unleash in days to come?
I'm still referring to the note-ban crisis because the other day I was at my bank to deposit a cheque and the person in the queue in front of me was withdrawing money and I'd recreate the dialogue that happened between them:
"In what what denominations should I pay you sir," asked the teller.
"In 500s and 100s, please"
"Can I include a few Rs. 2000 notes?"
"Please don't. I can't get it changed outside."
Now, as I overheard, the man was withdrawing about Rs. 15,000, and I'm sure he was not one of those black money hoarders!
I myself was depositing Rs. 10,000 in my account which I withdrew from my salary account in another bank, because all my loans gets paid through this bank account.
Standing there in that queue, I felt much humbled by the plight of a common salaried man with personal loans, housing loans and many other loans looming over his head in this country.
Farmers here commit suicide for not being able to payback a few lacks or even thousands when loans of big industrialists worth crores of rupees are getting written off as bad debts by banks.
Again, forgive my ignorance in economics but my commonsense fail to understand this.
Alas, we must not forget the fact that it was the same BJP that so vociferously opposed the GST when they were in opposition saying that it would be a bang-in-the-middle for small-time and middle-class businessmen!
Is it any different now?
Though I'm apolitical but out-and-out against extremist political parties like BJP and the Communists (Now don't have any idea that I'm a Congress sympathiser -- I punched NOTA in the past two elections!), this is not a post against GST or BJP. I just need some clarifications here because I'm hearing much mixed opinions and it's not helpful.
I need a neutral and unbiased opinion.
I'm still referring to the note-ban crisis because the other day I was at my bank to deposit a cheque and the person in the queue in front of me was withdrawing money and I'd recreate the dialogue that happened between them:
"In what what denominations should I pay you sir," asked the teller.
"In 500s and 100s, please"
"Can I include a few Rs. 2000 notes?"
"Please don't. I can't get it changed outside."
Now, as I overheard, the man was withdrawing about Rs. 15,000, and I'm sure he was not one of those black money hoarders!
I myself was depositing Rs. 10,000 in my account which I withdrew from my salary account in another bank, because all my loans gets paid through this bank account.
Standing there in that queue, I felt much humbled by the plight of a common salaried man with personal loans, housing loans and many other loans looming over his head in this country.
Farmers here commit suicide for not being able to payback a few lacks or even thousands when loans of big industrialists worth crores of rupees are getting written off as bad debts by banks.
Again, forgive my ignorance in economics but my commonsense fail to understand this.
Alas, we must not forget the fact that it was the same BJP that so vociferously opposed the GST when they were in opposition saying that it would be a bang-in-the-middle for small-time and middle-class businessmen!
Is it any different now?
Though I'm apolitical but out-and-out against extremist political parties like BJP and the Communists (Now don't have any idea that I'm a Congress sympathiser -- I punched NOTA in the past two elections!), this is not a post against GST or BJP. I just need some clarifications here because I'm hearing much mixed opinions and it's not helpful.
I need a neutral and unbiased opinion.
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