His other recommendations include withdrawal of the existing taxation system.
In a surprise announcement yesterday, Prime Minister Narendra Modi said that all ₹500 and ₹1,000 bank notes would be scrapped from midnight. The move is aimed at stamping out corruption and draining illicit cash from the economy.
If you thought that the PM came up with this idea overnight, you are wrong. While Modi is earning both bouquets and brickbats for his decision, it seems somebody else thought of this before him.
A group of crusaders who subscribe to the theory of “ArthaKranti“, propounded by Aurangabad-based architect and chartered accountant Anil Bokil, preached the idea of scrapping ₹500 and ₹1,000 bank notes long back.
In July this year, Bokil met the prime minister to discuss his ideas of curbing black money. Reports suggest that while he was given only eight minutes, he ended up discussing his plans with Modi for over two hours.