Friendly fierce debates had been the source of thought and improvement for generations together.
Current crop of the world seems to be very indulgent in this form of art and contributing to the improvement of the social life but mostly in social media.
This led me to think about sharing this thought which had been occurring to me and I am sure many of my friends who are settled in abroad share the same. The idea is radical in its own way but needs to be handled with much care as it needs to be more than just giving the right to vote to the non resident Indians.
The thought that came to you just now, is why is it a novel idea? It is the same thought that millions of non resident Indians carry in their hearts. There are subtle differences which I would like to add to the idea of the politics to bring more contributions to India. This could be sidelined as a crazy thought but would suggest to give it a second thought yourselves before doing it. The whole non resident world had been craving for an e-vote or similar mechanism that can give them a say in the worlds largest democracy.
I believe this could be done using the embassy/consulates that India has across the globe. Places which lacks such an office at the moment has to excuse the system until possible means are explored.
India really needs to get a good gauge of its social influence and global presence in the form of free ambassadors of the country. As a first step, we need to get the non resident Indians to be registered through embassies or online or similar possible modes feasible leading to an interview by the consulates. The person needs to carry his/her passport for the interview and also have valid proofs of residences in the foreign country. This is no different than getting an electoral card in India. After initial investigations and documentations of/from the applicants, government need to provide a non-resident Indian unique ID/card which should give them special tax benefits back in India for their investments. I would revist this point in more detail later. This would also double up as the identity card which can be used during the non resident Indian voting. Why we need the card and not just the passport? You must be wondering about it at the moment. To give you some insight into it, currently we know how many passports we have issued, but we don't know who is where at the moment and from when. This system would also help in tracking citizen movements abroad so that we can support the family in case of issues and also have proper documentation of the countries wealth which are its peoples.
Now what if the citizen(non-resident) chooses not to get this card and decides not to vote? It should be perfectly okay, for the country which being the worlds largest democracy also gives its citizens the right not to vote too as at homeland. But the catch here is that as passport is needed to go out of the country and enter other countries, this card would be required to enter back to the country without which once the process is fully implemented people would not be allowed to enter back as they chose to not get the identity registered in the government database. This seems rude for some and the new age freedom fighters would have a go at me. But this is required if you need to track the real power our country and use the real potential to grow. A question could arise on people who keeps travelling very often and businessmen or less fortunate IT guys for example, we should be able to identify the folks by the inward and outward journeys in their passports for sure. The law of having such a card, is or should only be applicable to people who have families outside India and who are in a place for more than 181Days almost the same law that categorizes them as NRI's.
How can it provide tax benefits? All the amounts transferred from foreign accounts to India from these card holders, should be given a tax cut so that we can promote people getting themselves registered and also build more savings in the homeland which would surely contribute to the growth of the country. It should also be made mandatory to hold an Indian bank account if the person has plans to return to India. Every NRI with the card should contribute a mandatory amount of Rs.100 which could be revised based on the conditions in every five years to the Indian government. Due to this small mandatory contributions, they would get the waiver of tax on interests on their savings and can hold more money in Indian accounts. This could bring back more money to Indian markets. The non refundable hundred rupees could be used to set-up a fund which let's call Non-Resident Indian Fund at the moment and could invest in the growth of the country. There would not be any returns given on these Rs.100 to the NRI but they could be given the right to vote where ever they are in the world provided there is an embassy or consulate, and also pay zero tax on their deposits in savings bank earning nominal interests. They could also get a tax reduction for another 1 year once they return permanently to India and only sums amassed above the ones send during the life abroad would be taxed. People need not pay for the already completed months abroad and this would only be applicable from the time the registration is done. As you could guess by now, government cannot chase people to get the funds on these but we can build computer systems which could read your non-resident ID card when you return to India in the airport itself, and can give an option to pay it in the airport with automated machines or choose to surrender your passport with the ID with the customs and decide not to return. It really is a crazy idea when I read this again but I still feel, it might be good to get track the wealth of India which is more than money, its very own people. Now don't tell me a country which gives IT services to the whole world, cannot make such complex systems. There are enough skills in the country which can be trusted with such jobs. This could also deter people from returning from India but remember we are expected to lose a bulk of NRI population anyways due to greener pastures abroad. And do we really require people who doesn't want to
contribute to the growth of our country back at home? Alternatively, people who still chooses not to contribute would have to pay additional taxes for their savings and any investments in India. They should also be noted by the system developed for this purpose during each of their visit to India.
According to available statistics, we are talking about 25million people abroad identified as people of Indian origin(PIO). out of which we could do a pessimistic estimation of 5million NRI's. You could do the maths to understand how much the money would come to with Rs.100 each. Doing this over a period of few years could give so much money to government for the welfare and growth of country that it is doesn't remain simple mathematics. Over that if people with enough knowledge and intelligence would handles the money for the government the results are enchanting. I hope all my readers understands the potential that we have which we have never explored. It could be highly turbulent to implement such a plan but the fruits are worth or generations to come. As all good things ever done, people would definitely be against it but over a period of time they would themselves understand the benefits. There are no shortcuts to become superpower and it really needs hardwork.
I believe one of our main problem is that the money is there in the country but not actually fully accounted for. People needs a chance to bring back their money to India from all over the world and invest in the country. In case the NRI Fund system becomes a failure due to mishandling or incapability of the administrators, it can later be called off but still the voting card of an NRI would be a good thing to have. One of the best feeling a person living abroad can get is that his whole country cares for him and is there to protect and serve him when he needs. He would never be alone in anywhere in the world and would give him confidence to perform better at his roles and also feel more proud of his own nation. Everytime he sees that tri-colour when he is abroad, respect would automatically bundle out in the form of tears of pride and nostalgia. Cheer him up to remind him that he is not just living for himself of his own means but also for his country for its growth!
Please read my suggestion for a tax system for common man proposed in another blog if this interests you.
Current crop of the world seems to be very indulgent in this form of art and contributing to the improvement of the social life but mostly in social media.
This led me to think about sharing this thought which had been occurring to me and I am sure many of my friends who are settled in abroad share the same. The idea is radical in its own way but needs to be handled with much care as it needs to be more than just giving the right to vote to the non resident Indians.
The thought that came to you just now, is why is it a novel idea? It is the same thought that millions of non resident Indians carry in their hearts. There are subtle differences which I would like to add to the idea of the politics to bring more contributions to India. This could be sidelined as a crazy thought but would suggest to give it a second thought yourselves before doing it. The whole non resident world had been craving for an e-vote or similar mechanism that can give them a say in the worlds largest democracy.
I believe this could be done using the embassy/consulates that India has across the globe. Places which lacks such an office at the moment has to excuse the system until possible means are explored.
India really needs to get a good gauge of its social influence and global presence in the form of free ambassadors of the country. As a first step, we need to get the non resident Indians to be registered through embassies or online or similar possible modes feasible leading to an interview by the consulates. The person needs to carry his/her passport for the interview and also have valid proofs of residences in the foreign country. This is no different than getting an electoral card in India. After initial investigations and documentations of/from the applicants, government need to provide a non-resident Indian unique ID/card which should give them special tax benefits back in India for their investments. I would revist this point in more detail later. This would also double up as the identity card which can be used during the non resident Indian voting. Why we need the card and not just the passport? You must be wondering about it at the moment. To give you some insight into it, currently we know how many passports we have issued, but we don't know who is where at the moment and from when. This system would also help in tracking citizen movements abroad so that we can support the family in case of issues and also have proper documentation of the countries wealth which are its peoples.
Now what if the citizen(non-resident) chooses not to get this card and decides not to vote? It should be perfectly okay, for the country which being the worlds largest democracy also gives its citizens the right not to vote too as at homeland. But the catch here is that as passport is needed to go out of the country and enter other countries, this card would be required to enter back to the country without which once the process is fully implemented people would not be allowed to enter back as they chose to not get the identity registered in the government database. This seems rude for some and the new age freedom fighters would have a go at me. But this is required if you need to track the real power our country and use the real potential to grow. A question could arise on people who keeps travelling very often and businessmen or less fortunate IT guys for example, we should be able to identify the folks by the inward and outward journeys in their passports for sure. The law of having such a card, is or should only be applicable to people who have families outside India and who are in a place for more than 181Days almost the same law that categorizes them as NRI's.
How can it provide tax benefits? All the amounts transferred from foreign accounts to India from these card holders, should be given a tax cut so that we can promote people getting themselves registered and also build more savings in the homeland which would surely contribute to the growth of the country. It should also be made mandatory to hold an Indian bank account if the person has plans to return to India. Every NRI with the card should contribute a mandatory amount of Rs.100 which could be revised based on the conditions in every five years to the Indian government. Due to this small mandatory contributions, they would get the waiver of tax on interests on their savings and can hold more money in Indian accounts. This could bring back more money to Indian markets. The non refundable hundred rupees could be used to set-up a fund which let's call Non-Resident Indian Fund at the moment and could invest in the growth of the country. There would not be any returns given on these Rs.100 to the NRI but they could be given the right to vote where ever they are in the world provided there is an embassy or consulate, and also pay zero tax on their deposits in savings bank earning nominal interests. They could also get a tax reduction for another 1 year once they return permanently to India and only sums amassed above the ones send during the life abroad would be taxed. People need not pay for the already completed months abroad and this would only be applicable from the time the registration is done. As you could guess by now, government cannot chase people to get the funds on these but we can build computer systems which could read your non-resident ID card when you return to India in the airport itself, and can give an option to pay it in the airport with automated machines or choose to surrender your passport with the ID with the customs and decide not to return. It really is a crazy idea when I read this again but I still feel, it might be good to get track the wealth of India which is more than money, its very own people. Now don't tell me a country which gives IT services to the whole world, cannot make such complex systems. There are enough skills in the country which can be trusted with such jobs. This could also deter people from returning from India but remember we are expected to lose a bulk of NRI population anyways due to greener pastures abroad. And do we really require people who doesn't want to
contribute to the growth of our country back at home? Alternatively, people who still chooses not to contribute would have to pay additional taxes for their savings and any investments in India. They should also be noted by the system developed for this purpose during each of their visit to India.
According to available statistics, we are talking about 25million people abroad identified as people of Indian origin(PIO). out of which we could do a pessimistic estimation of 5million NRI's. You could do the maths to understand how much the money would come to with Rs.100 each. Doing this over a period of few years could give so much money to government for the welfare and growth of country that it is doesn't remain simple mathematics. Over that if people with enough knowledge and intelligence would handles the money for the government the results are enchanting. I hope all my readers understands the potential that we have which we have never explored. It could be highly turbulent to implement such a plan but the fruits are worth or generations to come. As all good things ever done, people would definitely be against it but over a period of time they would themselves understand the benefits. There are no shortcuts to become superpower and it really needs hardwork.
I believe one of our main problem is that the money is there in the country but not actually fully accounted for. People needs a chance to bring back their money to India from all over the world and invest in the country. In case the NRI Fund system becomes a failure due to mishandling or incapability of the administrators, it can later be called off but still the voting card of an NRI would be a good thing to have. One of the best feeling a person living abroad can get is that his whole country cares for him and is there to protect and serve him when he needs. He would never be alone in anywhere in the world and would give him confidence to perform better at his roles and also feel more proud of his own nation. Everytime he sees that tri-colour when he is abroad, respect would automatically bundle out in the form of tears of pride and nostalgia. Cheer him up to remind him that he is not just living for himself of his own means but also for his country for its growth!
Please read my suggestion for a tax system for common man proposed in another blog if this interests you.
Great read, quite innovative! Keep it going!
ReplyDeleteGreat idea ..Arun...good thing to propose to Government of India.. This plan boosts our countries economy and benefits all NRI...right to vote for each and every indian.
ReplyDelete