I think this is a good idea. People beat the requirement for cash deposits of over Rs50000 to have a PAN number by making multiple deposits of just less than that. It will be interesting to see what new ideas will be used to beat this requirement for big home items like big screen LED tvs and two door fridges? Maybe multiple ownerships or in bits a peices. Cars are already covered by the PAN requirement. It has not caused people to buy less Audis and BMWs. Lets see. But in general this is a good idea. However they may be some collateral consequences. For one, lower consumption will lead to revenue losses for the central and state governments. The slowdown of industrial growth will be negligible as such items are mostly imported. The trade deficit will reduce somewhat.
Posted on: Sat, 13 Dec 2014 11:41:41 +0000
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