Saturday, October 17, 2009


The Indian Constitution was born in 1947. The idea was pure democracy where pwople will have fear of law and will have all rights which a human needs to have. The principle was untangalement of power, power with masses and creation of a fearless society.
62 years have passed and I am sure that if the framers of the constitution were alive they would have cried and would have committed suicide. We live in an era worst than dictatorship. If you strongly feel against a strong political person, then also you must keep quite and bear the atrocities or else you would land yourself in trouble. You fear the local leaders and goondas. Atleast I do, as they can beat you and the police will do nothing. You may knock the doors of law but result will be more harrassment for you.
Not only do the politians threaten you, but also police and who ever is a little powerful than you. To sum up its a rule of "jiski lathi uski bhaas".
And for the law, the threat is much more. The demo of the same is from the fact that many had very hard feelings against the CJI's decision on non disclosure under RTI, there was resistence and protest inside but not open as all fear that he will as constitutional head may make you face Contempt of Court. For me a Judge is a person who stands for justice and is above self, who knows the pain of the commonman and gives them justice, which brings confidence in the masses towards an organised process of law and its execution. A judge is non controvercial and whenever he feels that people are not satisfied or his decision has caused harm to a person or the faith in justice, he steps down like a humble warrior, without any resisitence and even before any one demands action. I do not know the right or wrong but know one thing.. I have fear and I am afraid of the police, politians, judiciary and even local small time self acclaimed leaders (dadas). For me all are the dictators and I am their servant who has no guts to protest a loud. I fear more the common man who will not support me if I say look here this is a wrong thing, but instead some will critise me, some will victmise me and some will pat my back and say "you are right, but hum kya kare, humbhi darte hai".
siddharth murarka

Wednesday, October 14, 2009

The great Indian Bank drama

Indian PSU Banks represent public money. They were formed by the Government of India and Nationalised because in that era it was considered that this is a service to common man in the form of accounts and also giving credit facilities to the trade and industry.

But let us see what Banks today are doing.

I have a savings account in Syndicate Bank Malad west Branch. I always asked for 10 cheque leafs. This time I was given 25 leafs. But my account was debited with Rs.120.00 as cheque book charges. I asked the manager as to how it was debited and he told me that in case you apply for more than 50 cheque leafs in a year we debit your account by Rs.6.00 per leaf ( more than even a current account). I asked him then 6*25 = 150.00 must have been debited and the answer was that it is the software which debits the accounts and not they and the software is always correct.
In last one year I have closed one current account and the Bank debited Rs.500.00 for closure. They debited my accounts with Rs.10.00 per savings account and the reason given was that now you are insured for accidental death of upto Rs.1.00 lacs ( my consent is not necesary and it is the Bank who decides who needs insurance and how much). Bank must have earned in croires by debiting crores of accounst with Rs.10.00 each.

The saving account minimum balance was enhanced to Rs.1000.00 from Rs.500.00 and since I did not go to the Bank I did not know it and by the time I realised the entire family was made to coughout Rs.1,000.00 in just 2 months.

I asked the Bank to open a Escrow Account wherein I can keep the fees which I have recieved but for which I have not completed their work and the Bank said please go to USA to open such accounts. The answer was rude and as if I am a beggar and he is the owner of the Bank.
This clearly shows that Banks have adopted an attitude to harrass customers as they know that now customers are not used to cash transactions as earlier.

The moral of the story is that the government is fooling the common man and these Banks make money only by duping customers and hence are in profits.

For me the Banking needs to be simplified. There is no need of saving and current account bifurcation and the account must be just a Bank Account with no minimum balance. For Transfer from Bank to Bank ( online If I pay directly to the Account of another person in another Bank), there must not be any transaction charges as the clearing exercise is stopped. ATM and Debit Crads must be free and encouraged. The cheque book charges must be Rs.3.00 per leaf and there must not be any charges for folio etc. No interest must be paid on accounts and there must be option to put money in FD or may be by standing instructions.
The Account No. must be my unique ID NO. and the bank code and branch code must be prefixed. This will make I.T. capable of tracking my accounts and also there must be a ristriction on no. of accounts a person can maintain, may be for individuals just 3.
For lending I will put details next time. I am just waiting to see a simple life without knots of complications and where the productivity of a person is real and not artifical, as is perdominant now. For more Banking reforms I will put in more details next time.


is the direct tax code really simple

I read the direct tax code as was sent to me by IMC. On first glance I felt god saved the common Indian by 10% as the number of section is reduced. But when I analysed it then I found it was not really simple.
Simple Tax Code to my mind will be a tax code where a person is not burdened by tax, there is no major incentive for evasion and also the tax payer does not involve too much in tax planning, tax dogging or realignment of Income Tax files for getting Tax benifits.
Thus, I would say the first and foremost thing that must be done is all exemptions like 80C, 80D should be scrapped forthwith. The person must not divert his energy in planning such things but must concentrate more on work.

Further, the tax slab must be simple
that is -
upto Rs.3.00 lacs exempt.
then next 7.0 lacs 10%.
then next slab till 1.00 cr. 20%.
then next slab till 10.00 cr. 30%
then next slab till 100.00 cr. 40%
and after that 50% flat.
for corporates 25% flat should be the tax. There must not be any FBT or Dividend Tax.

I think depreciation must have 3 slabs of 10%, 25% and 50% only (the last in case of electronics like mobile).

I personally feel that there must be tax on all incomes like capital gains, agriculture, export or any other profession and no special treatment for writers or women or old aged persons.

The deemed income on second house must be done away and audit must be on Rs.2.50 crores.

If the tax is so simple no one will divert income in name of family members and will not float 10-15 firms. Thus simplicity will mean honest tax payer and tax must be thought as responsibility towards nation and not a liability.

Tuesday, October 13, 2009

dance of the democracy

Today I went to vote. All parties were trying to woo me by all sets of formulas. All busy in checking my name and giving me boot number. And all saying " Sir hamara chin ****** hai. Please Aaap humehi vote de aur kisi ko nahi."
After voting I was just wondering is it true democracy. The answer was no. What I want in democracy is not what I am getting today. The questions to my mind are some amazing questions of which I also do not know the answer.
A candidate who wins gets not even 50% of the votes which have not been exercised. That is a candidate who wins gets say 30% of vote casted whereas the polling is just 48%. So in all he represents only 14.4% of the population, which makes a candidate to polarise and divide the voters on differnt lines of caste/class/language/religion etc.
If say 25% feel that these candidates are not fit then also one of the unfit ones win. Why not have a scheme where by I can cast negative vote, that is I reject all these candidates and if the winning candidate does not get more votes than negative votes then he is not the winner and all the candidates be disqualified from fighting elections for next 10 years. This will compel parties to see that the candidate work for more and more masses.
Also I feel that if a candidate does not represent even 25% of the total voters then also he has no right to represent the mases of that constituency.
Further those employed outside the constituency must be given a right to vote in next 10 days. That is if I am not able to cast my vote, then in next 10 days I can go to the office of election commissioner( only one in entire Mumbai) and cast my vote. No one will mind if the said person is put to the cost of say Rs.200.00 in case the vote is casted latter. This saves people who are outside the constituency.
I am pretty sure that if this is implemented, we will have a crisis of leadership and elected persons, but then each crisis brings new opportunities and discovery is only done in crisis. I am sure this will stop the division of the masses into classes. I am sure we will be able to say goodbye to the British formula of divide and rule.
Siddharth Murarka
Note : I have no objection if someone prints my view or puts it up to the nation or the legislature.

what is corruption?

Corruption - the word we use day in and day out. we talk of corrpution by politians, corruptions by police, bureaucrats and now we even talk of corruption in judiciary and judicial accountability. Well, in my day time I must be using or hearing the word several times more than any other word.
I was just thinking what this word " corruption" means and I asked my friends as to what they understood by the word " corruption". The most common answer was that if someone takes money and does a work, which he is duty bound to do even when we do not pay him, then that is called corruption.
Well I defer on this point. Well my view is a rather broad one. Corruption means when a person does not do a work which in law or as per rules he is bound to do then the said person can be corrupt. This means that if I am bound to patrol a street as a police officer but do not do the work and sits ideal or does a not so important work in the police station then I am corrupt. I extend it further, if a person who is bound to finish his work in a particular manner does not do the work within that limited time for no reasonable cause then the person is corrupt. If a person knows that his work which he is doing will result in harrassment to another person and still does the work in that particular fashion then it means that person doing the work is corrupt.
I give a simple example, If I am a police officer and I am given the power to arrest Mr. X after investigation and what I do is I on my own, upon the basis of my feeling or information provided by the vested interest make a report in such a manner that it means that Mr. X needs to be arrested and arrest Mr. X then even if I have not got any favours or any monies I am liable for being held guilty for corruption.
This will really put a tight spot on Administration, Police, Government and even judiciary as then who is to be said to be non corrupt.....
siddharth murarka