Reborn multinational giant

“As already stated on TV, Morty * * did this to fight corruption and cut off the underground money launderers!"

The man who confronted him, argued aloud.

Neither of the two arguing men was very old and looked like two academic college students.

There is a difference between the two, with one side arguing that Morty's policy of scrapping money is foolish and the other that it is the right thing to do.

Indians love to talk about politics so much that there are not a few people in the team but two.

“I heard that some corrupt officials sleep in their homes with 1,000 rupees of banknotes, and now the government wants everyone to go to the bank to exchange for new money. Those corrupt officials must try to exchange so much money for new money, or after December 30, the money will become waste paper!We'll catch a lot of greedy officials by then! "

“Morty couldn't have done that, and the officials who wanted to exchange it for new money, many means, perhaps among the people in the queue, would have exchanged money for corrupt officials.”

“There is a 60% tax levied on television if deposits exceeding Rs. 250,000 do not match legitimate income!"

“I've worked for 20 years and never paid taxes. My boss has hired more than 20 workers and never paid taxes. According to this policy, my boss has to be punished for dumping his property!"

“Haha, fortunately, I only have 200,000 rupees in total in my family, so don't worry about it!"

Gupta and Dad listened to what people around them were saying, and they also spoke quietly.

“Dad, Dad, do you think our country will be in chaos if things go so far?" Gupta is a little worried.

His father said lightly:

“Nothing, the confusion is only temporary. When the wind passes, the benefits to our country are always greater than the bad ones. Those corrupt officials should be executed!"

Morty, of low caste origin, has huge popular support in India, and many people at the bottom, like Gupta's dad, see Morty as a great leader.

It was also because of this huge public opinion base that Morty dared to be so radical, saying that scrapping money is scrapping money.

The fierce campaign of scrapping money began throughout India, and banks across the country were squeezed out by people who came to exchange new money.

In order to maintain order, police have been sent to many places to maintain order in front of banks.

Even so, there are still a number of violent incidents in front of banks across the country, such as confusion, mayhem, and beatings.

Besides, many people were surprised by the ban on the use of old bills in public places such as railway stations, hospitals, airports and so on in just a few days.

The whole of India is in chaos.

The voices of supporters and opponents, from civil society to various media, clashed.

The supporters, mostly the underprivileged people of India, believed that the reason for the abolition campaign was, as Morty said, to fight corruption!

Intellectuals and many elites have criticized Mordi and the government's bankruptcy policy through various channels for being too reckless and plunging the country into unprecedented chaos.

A lot of strikes, protests, stock markets in India plummeted.

But all the intellectuals who are a little rational are criticizing Morty's money scrapping policy.

Moldi, Prime Minister's Office, New Delhi, received Ulgit Patel, Governor of the Reserve Bank of India.

The Reserve Bank of India is comparable to the People's Bank of China of China and is the central bank of India, in charge of national monetary and financial policy, monetary issuance and other central bank functions.

It was the Reserve Bank of India or, more precisely, the Governor, Uljit Patel, as well as a number of senior officials and experts from the Indian Ministry of Finance and the financial sector that led the nationwide scrapping campaign in India.

It was under Patel's advice that Morty carried out this campaign of money scrapping under the pressure of huge national public opinion and with a quick knife.

Morty ostensibly announced to the outside world that the campaign was aimed at fighting corruption and money laundering, but in fact the main purpose was to reform the tax system.

In the past, because the Indian people were accustomed to using cash to pay wages, tax evasion and evasion were many, such as cattle hair. Even if the tax authorities had the ability, it was impossible to go to the national people's pockets to pay for each one.

In this campaign, all ordinary people who come to the bank to exchange new coins are required to register personal information, family addresses, sources of income and other information. In addition, the general public is encouraged and required to open bank accounts in various ways.

Morty and the Indian government are trying to broaden the tax base, lay the foundation for tax reform and increase fiscal revenues through this kind of bottom-up payroll.

As for the fight against corruption and money laundering, although it also has some effect, more than that, it is a kind of euphemism Morty gave the people.

After all, in a country with a democratically elected government, Morty cannot tell the people directly that the real purpose of the scrapping campaign is to collect taxes from people's pockets!

"* *, more than 30 million people nationwide have registered with banks to exchange new currency in the past week, of whom more than 10 million have opened new bank accounts.

It is expected that in two months, more than 300 million people will exchange new coins in banks across the country, and at least 100 million people will open new bank accounts! "

Patel reports his knowledge of the data to Morty.

Morty's closing thoughts were that 300 million people would cover almost all of India's families, and in such a short period of time, those greedy officials and black money who wanted to wash away would inevitably make a lot of noise that the government would detect.

I believe that the relevant anti-corruption departments will certainly have a lot to gain in this campaign.

With this in mind, Morty was heartened that, while the main purpose of the campaign was to reform the tax system, it was an opportunity to eliminate a number of corrupt officials and add a lot to his performance.

According to Patel and Treasury experts, after the scrapping campaign, at least a 20% increase in tax revenues across India, combined with a crackdown on black earnings, the Indian government's fiscal revenues conservatively increased by more than $30 billion from the scrapping campaign!

“$30 billion!" is almost one tenth of India's annual fiscal revenues.

For this considerable fiscal revenue, Morty will implement it unwaveringly, even if there is more pressure from outside public opinion.

On November 21, Morty delivered his first speech on national television after issuing a writ of scrapping. While acknowledging that the scrapping campaign had hit many corrupt officials, Morty also encouraged and called on the entire Indian people to learn to use electronic economic means such as electronic banking and bank accounts, to learn to make mobile payments on mobile phones through APPs, and to operate and do business without cash.

Once Morty's speech was released, many people across India, especially young people who were smartphone-friendly, opened WeChat or paytm payments to tie up the bank accounts they had just opened.

Mobile payments and Internet finance in India ushered in a golden age of development.