Who Suggested 1000-500 NoteBan?

Prime Minister Narendra Modi dropped a bomb on black-money holders and shocked the country. While he addressed the nation, he informed that the notes with denominations of 500 and 1000 will be invalid and the country was stirred. There are, of course, a number of updates on how things are going to unfold so that this can be executed without hassle for genuine tax payers.

While there is a lot of appreciation and criticism around this decision of Prime Minister Modi, we got in touch with someone who had written to the Prime Minister’s Office in 2014 itself, suggesting what has been implemented now.

The name of this person is Dr Sunil Gupta who is a seasoned chartered accountant. He has been providing consistent suggestions to Reserve Bank of India, Department of Financial Services and the government as well. He is also the chairman of Economy Affairs Committee of Unity International Foundation. His guidance was also helped India Centre Foundation to achieve success in the introduction of Indo Japan Global Partnership and Delhi-Mumbai Industrial Corridor.

He said that

"I have been a regular contributor of ideas to PMO and this is not the only letter I have written. There are several such letters which PMO forwards to other ministries and are implemented. When I started advocacy on this idea in 2014 and spoke to few ministers and officials, they appreciated the idea but doubted if the same can be implemented in a practical scenario. Now while it has been implemented, it gives me immense happiness and joy."

The Letter was written on July 21 2014 which was right after BRICS Summit in 2014 which was held in Brazil which also finds mentions in the address.

It is good to know that we have such geniuses in the country who had thought of it 2 years befor itself. Such visionaries definitely deserves an applaud, appreciation and credit in the country. Dr Gupta ocassionaly writes more at his website www.drsunilgupta.com

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