How can India go cashless?

For a country to go cashless, there should be one payment method accepted everywhere e.g. Using Google pay or Apple pay in London.
In London, while boarding a train (called tube), the passenger holds his mobile near a wireless device. After getting down at destination, the passenger again hold his mobile near similar device. The charges of the rail travel are automatically deducted form his chosen form of payment i.e. MasterCard, Visa, etc. While boarding a bus in London, the passenger shows his mobile to a wireless device and charges for the travel are automatically deducted. A cup of coffee, purchased at local tea stall, can be paid via mobile. Malls expect payment with mobiles. All cabs (called black taxis) accept payment via mobile.
In India say Mumbai for example, there is one card for electronic payment in buses. There is a separate card for electronic payment while traveling in metro rail. While traveling by regular rail, there is a separate card or mobile app. Auto rickshaws and cabs (yellow taxis) in Mumbai accept only cash.
In India, not only does each city/state have different forms of incompatible electronic payment methods, but multiple electronic payment methods exist within the same city. Also, many agencies accept only cash. So, for convenience, most people just pay by cash throughout India.

If India has to move towards a society with limited cash, then

• All transports (bus, trains, metros), toll stations, post-offices, petrol stations, etc must accept payment from mobile wallet e.g. Paytm.
• Since multiple mobile wallets exist in India, they should be inter-operable i.e. one person, using Paytm mobile wallet, can pay to another person, using Airtel Money mobile wallet.
• There should be no extra charge while using mobile wallet, just like there is no extra charge while using cash.
• The existing transaction limits for mobile wallet payments should be raised significantly.
• People should be allowed to charge their mobiles wallets with cash and withdraw cash from their mobile wallets.

India cannot go completely cashless. No corrupt country can go cashless. Bribes are the engine oil that makes the corrupt economies run. Making a corrupt country totally cashless, will cause its economy to come to a stand-still.
Totally cashless society is a dream of governments. It has not yet been achieved anywhere in world. So how can India become totally cashless?

India bans existing ₹500 and ₹1000 notes

The official reason for this ban is to curb black money and eliminate fake notes from the system. These reasons are fake

• Indian government since Independence is trying to eliminate black money. So why is there a need to ban notes now? The reason is clearly fake.
• Fake notes could have been eliminated by announcing a future date (6 months in advance) before actually banning the notes. So even this reason is fake.

The government says it will bring new ₹500 and ₹2000 notes. But these will take many months (maybe years) to come into main stream circulation.
The real reason for banning these notes is that the government wants to squeeze more taxes from people. It becomes more difficult to hide transactions when people are forced to use electronic payments.

So the Indian government will deliberately delay mass scale printing of new ₹500 and ₹2000 notes. Indians should

• Start using mobile payment apps (like Paytm), instead of cash.
• Hoard food items as in short run shortages may develop.
• Withdraw as much cash as possible from banks.
• Load multiple currency transaction apps (Paytm, FreeCharge, MobiKwik, Airtel Money, Vodafone M-pesa and Oxigen Wallet) on your mobile and distribute transactions among them.
• Protest against government's decision to ban cash by voting for opposition parties in coming state elections.

Removal of a currency from the market is deflationary. There will be job losses in private sector. The stock market will fall. Real estate prices will fall.
To combat this deflation, the government will reduce interest rates (and reserve ratios for banks) by a huge percentage. Expect your EMI to get lesser, but this may not be of net benefit for most people because inflation will rise.

If you have a lot of black money in cash, then

1. Buy physical gold/silver at your local jeweler.
2. Gold is about ₹31,500 for 10gms, but you will have to shell out a much higher amount e.g. ₹50,000 while paying cash.
3. The jeweler will likely bribe some officials to convert the black money to white. Hence this huge margin over official gold/silver price.
4. You can sell gold/silver for cash a few months later, when enough new cash has entered the system.

You will likely lose a huge percentage of your black money, thanks to Modi.

Renunciation

Renunciation is NOT

• Living in solitude
• Eating once a day
• Any external appearance e.g. shaving head, wearing special clothes, etc.
• Chanting some special scriptures.
• Meditating with closed eyes.
• Allowing others to insult / harm you.

In fact, all above forms of renunciation are likely to cause more harm than good, when unaccompanied by a mental maturity.

Real Renunciation is living in peace with oneself. The person may live in solitude or in a crowd. The person may eat any number of times a day. The person may not wear any special clothes. The person may not know scriptures. The person may not meditate with closed eyes. The person may use violence for self-defense.
Real Renunciation is difficult because it involves giving up of wrong ideas and accepting the Truth about oneself.
Real Renunciation is difficult. Fake renunciation (living in solitude, etc) are relatively easy.

USA elections

Personally I am endorsing Gary Johnson for President, but it does not seem likely that he will win. So in my opinion, the outcome during the next few weeks is mentioned below.

Indian spectrum auction fails.

Indian government conducted an auction for sale of spectrum. The auction earned about 11% of the expected revenue. So overall the auction was a failure.

The question is why did the auction fail?
The auction failed because government bureaucrats decided the price of the spectrum. Ideally, the market should decide the price of the spectrum.

The auction is conducted by bidding. So the base price can be kept very small. If the spectrum deserves a higher price, then during bidding the price will rise to the level that market is willing to pay.

The failure in spectrum auction shows the incompetency of Indian government. The respective minister and bureaucrats should resign.

Madaari movie released in 2016

Some dialogues from this movie

• Government is not corrupt; Government exists solely for corruption.
• Government is contractor, opposition is contractor. Both have to join hands in any big scam.
• Governments exploit because people are divided over religion, race, gender, state, etc. Politicians work to keep the people divided because united citizes will not tolerate the injustice of high taxes, unnecessary rules, huge bureaucracy, etc.
• Imagine a boot stamping a human face; the boot is the government and the face represents the common people.
• Politicians are not here to serve citizens; they are here to steal.
• Assembly, Parliament, etc are only for show to convince people that politicians are in fact working to solve their problems.
• People are given party tickets because of what they can donate to the party.
• Politicians make rules and give power to bureaucrats because of what they can give in return.
• The primary job of politicians is to show dreams; stupid people believe in these dreams and vote for these politicians.
• Wealth is transferred from people to politicians under the guise of development. Example: When a road is to be built, before the plan is approved, friends/relatives of politicians buy nearby land. This land is then sold at higher prices.
• Politicians come and go; parties (Congress, BJP, AAP, etc) will come and go; but business (of politics) will go on as usual.
• Stick, guns, police, constitution, etc exist to frighten common people; keep citizens under control.

The solution is not to replace one government with another; one politician with another. The real solution is move away from government; reduce power of politicians/government, so that they cannot steal.

My notes: Vote of person/party that promises and has a history of

• Reducing taxes.
• Privatization.
• Reduction in rules/regulations.
• Reduction in subsidies.

If you cannot find such a person/party; please don't vote.

War in 2016/17

Who wants war? The farmer, mechanic and other common people, in every country, don't want war. Politicians want war so that

• They can blame the economic problems of the country on the war
• They can raise taxes, steal freedom and gain more power.

Indian economy is faltering. Pakistan's economy is not good. China's banks are facing losses due to real estate bubble bursting. No private investor is willing to purchase Japanese bonds at these low rates. Many middle east countries are facing conflict. Europe is breaking apart. USA has record low interest rates. Politicians don't want to accept responsibilities for all these problems. They would rather blame all these problems on some other country and declare war.

So war will likely come in coming months in some part of the world. All economic problems will be blamed on this war. Stocks will fall. Real estate will fall. Currencies will fall. Oil and Gold/Silver will rise. Inflation will be high. But ignorant people will support their corrupt governments and quietly accept the problems, apparently created by war.