Thursday 28 October 2010

India's Cash Economy?

There was a quote in a recent edition of Business Today by Ajay Banga, Head of Mastercard in India. He says that Indians prefer dealing in cash. They do not like electronic money as it can mean monitoring by the IT people. Now, I think I have said this before also, but I will say it again. Probably everyone who pays tax grumbles about it. Add to that the misuse of the public's money and one's blood really boils. 

Mayawati's statue-building spree immediately comes to mind. The CPM government in West Bengal has renamed the New Town area as Jyoti Basu Nagar. It is probably set to install a number of statues of him also. I would be happier if the government instead spent the money on hiring more people for the metro's construction and then named the metro after Jyoti Basu (I know, construction happens through tenders, blah blah, but I can hope). Also, every time I pay sales tax I am adding to the state government's kitty, so I should have a say in state finances also!

Today, I don't think there is a really effective way of registering protesting against misuse of public funds. One can always approach the courts, but what the outcome would be is something that is highly questionable. But sigh, what can be done?

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