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Note ban, GST destroyed economy, says Chidambaram

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Rajkot, Oct 28 (IANS) Former Union Finance Minister P. Chidambaram on Saturday asserted that demonetization and Goods and Services Tax (GST) have had a “sledgehammer” impact on the small and medum businesses as well as slowing down job growth in the country.

In “Samvad”, an interaction with businessmen in Gujarat Chief Minister Vijay Rupanis’ hometown, he said the twin measures had destroyed the economy completely.

Questioning the description of demonetisation as “a bold step”, he said it was actually reckless and foolish.

“What’s a bold step? A farmer who commits suicide is also a bold step? Do you welcome it? Committing suicide also requires courage. I call it rash, reckless and an adventurous step. Demonetisation has destroyed lives.

“For two to three months, millions of people stood in queues to exchange notes. Nearly, 140 people lost their lives. Carpenter, rickshaw pullers, plumbers, who depend on daily cash earnings, went without business for two months. Demonetisation was a foolish step.”

The Congress leader said the note ban had failed to achieve its much-touted objectives like ending black money and curbing terror funding, adding India did not have black money but a tax-evading “shadow economy”.

“There is nothing like black money but merely income which is taxed and income that is taxable but escapes the tax net. India’s shadow economy is around 12 per cent. There are many European countries whose shadow economy is more than 12 per cent. Even the US has around eight per cent shadow economy. What is shadow economy? It is income that your tax system is not able to capture,” he said.

“The answer to shadow economy is to make your tax system more efficient. If you put cruel tax rates, people will avoid it. People will say why should I pay. If you make the tax system friendly, they will pay.

“The answer is not demonetisation. It’s like saying there is a mosquito in my house, so I am going to burn down my whole house,” he added

On the GST, Chidambaram said it was a good move but hastily implemented, while the requirement to file three returns online every month had forced small and medium businesses to shut down.

Attacking the government over lack of employment generation, he said: “There are no jobs today. Jobs will be created only if small and medium businesses grow. To help them grow, small businesses should not be required to register. Medium businesses must be given the right to self-certification.”

Ridiculing the government’s claims that the economy was on a strong wicket, he asked why it had announced the Rs 5 lakh crore Bharatmala project and bank recapitalisation all of a sudden.

“In your heart, you know things are not good. In the last six quarters, the growth rate has gone down from 9.1 per cent to 5.7 per cent, a drop of 3.4 per cent.

“India doesn’t deserve growth rate below 5.7 per cent and it is possible to take it up by taking right steps and not taking wrong steps. But for that to happen, the government must acknowledge that they committed a mistake through demonetisation and GST. The government must hire someone from outside to correct the mistakes. Those in government can’t do it as they are the ones who have committed the mistakes.”

On agricultural distress in Gujarat, he claimed that 1,326 farmers committed suicide in the state over the last four years.

Taking a dig on the Modi government’s talk about “vikas”, he said, “People talk about growth. But what is the use of rozgar-mukta vikas (jobless development).”

Terming the Modi government’s priorities misplaced, Chidambaram said: “They will invest Rs 1 lakh crore on bullet train between Mumbai and Ahmedabad. How many people will travel in it. Around 300 or 400? Can’t we give Rs 1 crore to each school so that new buildings are built, toilets are built, teachers are hired?”

“Our priority is education, health, employment. Instead, they could have focused on making the existing rail network better, cleaner and efficient,” he argued.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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