May 6, 2016 No.5
https://www.facebook.com/mehtarahulc/posts/10153467145966922
https://www.facebook.com/mehtarahulc/posts/10153467145966922
NaMo , NaMo-andhbhagats etc are speading a lie that excise on gold jewellery will reduce black money. It doesnt. First, black money is hoarded in gold biscuits and NOT in jewelry because converting money into jewelry and then back into money same day is a loss of about 15% due to labor and copper mixed in jewely. Also, those who have black money do all no bill cash business , no paper trail. So excise laws dont effect them anyway.
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IOW, the statements made by NaMo, Jetley, NaMo-andhbhagats that excise will reduce black money in gold are all lies
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Also, much of the black money is in land and not even 5% in gold biscuits and not even 2% in gold jewels. The gold biscuits are only held to hold black money for a few months. eg say X knows he will acquire black money of Rs 5 a year and after 5 years he plans to buy a plot of say Rs 25 crore. Then every year, he will buy Rs 5 crore of gold and then after 5 years he will sell all gold and buy plot. IOW, gold is used ONLY for short term hoarding of black money.
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Now NaMo, NaMo-andhbhagats have openly oppossed law-drafts that can reduce black rupees in land deals to 5% of land value, down from some 50% to 80% as of now.
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So the excise in gold jewelry is ONLY to decrease export opportunity for small jewelers, It has nothing to do with black rupee problem
.
IOW, the statements made by NaMo, Jetley, NaMo-andhbhagats that excise will reduce black money in gold are all lies
.
Also, much of the black money is in land and not even 5% in gold biscuits and not even 2% in gold jewels. The gold biscuits are only held to hold black money for a few months. eg say X knows he will acquire black money of Rs 5 a year and after 5 years he plans to buy a plot of say Rs 25 crore. Then every year, he will buy Rs 5 crore of gold and then after 5 years he will sell all gold and buy plot. IOW, gold is used ONLY for short term hoarding of black money.
.
Now NaMo, NaMo-andhbhagats have openly oppossed law-drafts that can reduce black rupees in land deals to 5% of land value, down from some 50% to 80% as of now.
.
So the excise in gold jewelry is ONLY to decrease export opportunity for small jewelers, It has nothing to do with black rupee problem
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