If I was the finance minister for today, the first move I would do is to ban all the Rs.500 and Rs.2000 denominations. I will not replace it with any other huge store value currency. The reason behind this move is that most of the large currency value money is preferred as the black money and for making fake notes. Making or printing a huge amount of low denomination will be a huge disadvantage for fake money printers and black money users. It would require a large place to store and large amount of time to print it. Black money transfers will not be possible and all the black money automatically comes to bank accounts, for which they would have to pay a tax. If tax is paid, all the black money gets converted to white money, thus, all the Finance problems and National tax will be cleared, and a path of improvement will be created for our nation.
AASHISH.S
XI-B
If I were the finance minister today, I will reduce the tax rates to very low rates. Although it will lead to budget deficit in the beginning, the low tax rates will encourage business and entrepreneurship, which will lead to economic growth in the large run. In addition, I will reduce government’s role in departments like public health, education etc. This will produce new opportunities for the private sector. These services, when offered by private institutions, will be of better quality than when government provides. This will lead to an ideal capitalist system. Although this system is catastrophic to the poor people first, their standard of living will rise and they will be out of poverty in the end.
M.KUMARAN
XI-B
I would scrutinize all the government records and try to locate colossal amount of money not brought into the records. I would make sure that ‘Black’ money reaches the right sources to help the farmers in deep debt. I would scrap the current tax system and introduce a new one, which will charge more amounts for the people coming under higher tax slabs, and reduce the amount for the lower slabs. I would offer higher subsidies for e-vehicles. I would charge tax for individuals who own two or more cars. I believe that this would curb the ever-growing number of cars, which account for the rise in pollution. I will try to take control of the situation as an important official of the government.
P.R.Pranavodhayam
XI-B
‘Finance’ is the mother of everything and the god of everything in this uncanny world of things as well as people. Money is the trademark as well as landmark for every nook and corner of the world. Taking over the throne of a finance minister is like a herculean task with money spread over like the Sanjeevan Mountain around me. To lift the value as well as the usage of money up I with my enormous powers would increase the budget on areas of development needed in my country. A very few quoted examples would be health line. I will be master of my mind and will make sure that there are no traces of black money left out despite many politicians behind me.
I will make sure that the budget of the country is sort out equally so that money is available in all the fields like commerce, agriculture & industry.
I will open many rural (Gramdaan) banks to help the poor as well as debt-holders so that they benefit from it.
I will discourage the existence of ‘Bribe’ so that none of the country’s money goes in waste.
I will make “Demonetization’ as the copyright for every people in the country so that black money is swallowed.
Every citizen of my country is hard working. I will make sure that each penny of my citizens does not go in vain.
So as a finance minister I will fulfill all these duties to hail India as financially abundant country as her vast culture.
SWATHI MURALI
XI A
My first effort would be to root out the demon of black money. This leads to inflation and makes financial control impossible. The tax amount will be rationalized i.e. brought down to a level, which is convenient for mid salary workers and business community.
Black market hoarders would be punished severely and credit facilities would be liberalized.
Banks will be moved to all remote villages and rural areas and loans in the form of financial help will be done for the farmers. Demonetization would be stopped.
Construction of tube wells and improving power supplies would be the key. Wastage would be reduced and all the demands and needs of consumers would be met.
Honesty is the first policy and we must chase away corruption, which is an assault for conscience.
I will try to provide all services myself or get advice from financial Institutions.
In addition, I would conduct a massive program and all viewpoints of people would be shared regarding development.
My earnest endeavor to see there is increase in production and hardship of people would be reduced.
S.SUKESH
XI-B