How to Reverse Recession and Remove Poverty in India (eBook)

There has been very few economic systems which have beentried and tested over the last two centuries at least. Socialistsystem had failed miserably resulting in disintegration of sovietblock. Capitalistic system has survived so far but ultimately it isgoing to drown all the developed and the developing nations ofthe world with no solution in sight . Worlds top Nobel prizewinners are sitting helpless over the ruins of earth quake createdby the capitalistic system. The world renowned economists haveonly three things to offer namely the INTEREST RATE ,INFLATIONRATE AND THE EXCHANGE RATE. They CHANGE THESE RATESfrequently BUT WITH ZERO RESULT. I have created a new financial instrument which is interest and tax free system and hastremendous appeal because it works according to human nature and is full of incentives . Itremoves the interest and at the same time all types of taxes by choice. It is an out of the boxsolution unknown to economic world. Float interest free bonds with different conditions whichare full of incentives so that every person is forced to buy these bonds in bulk as early as possiblebecause the incentives decrease as the time passes. 1. 60 % discount on the sale of goods or services if purchased by bonds and not by Rupees butthese bonds will only replace the actual currency in public sector and not in private sectorwhere actual currency will be used . 2. At least 100 % return in less than 30 days if 100,000 thousand Rupees are spent inpurchasing these bonds . 3. One hundred billion prize money to be awarded to lucky winners(one hundred thousandwinners of one million Rupees ) picked up from these bonds EVERY DAY . 4. Looted or tax evaded money will join the depleted economy by offering 10 million duty freeon the option of surrendering 1000 dollars to the state bank of India . (Only for onemonth)This option applies to goods purchased inside the country where duty applies andto all imported goods but this option will have to be used within one year of date ofpurchase. The govt declares a tax free country because of tremendous amount of fundsgenerated by these incentives so all kinds of black money will become white and will enterinto the economy resulting in tremendous boost to the present economic situation. 5. It is expected that at least few years of budget will be in government coffers in less than 24hours and much more within a month .By the year end the amount collected by the statewill be at least 100 times more than the annual budget. The funds thus collected are notdebt and hence not be refunded or paid any interest on these funds . 6. At least 50 Millions employed to sell these bonds not on salary but on commission with afixed quota per year for each agent . 7. Industry will multiply like mushrooms as there is no duty and no tax. 8. Production cost will be less than half so the cost of living will also decrease tremendously. 9. As the government is not spending any funds to implement this system so hence there is theZero risk to the economy . 10. Salary of all government servants will be increased to three times which will reducecorruption to a great extent . 11. Seeing is believing but you have to read the book. 12. Million dollar reward is offered to prove my theory wrong. FRCS, PhDPhD. Economics, Finance and Business Administration, USA