A warning bell has rung already.

A warning bell has rung already.

Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year.

withdrawing a cumulative ₹10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory.

In its push towards a digital economy, the central government is thinking of introducing a tax of 3-5 per cent on cash withdrawal of ₹10 lakh in a year, a move to discourage cash usage in the economy and resultant black money.

Finance ministry may impose a rule on possessing cash on hand.  There is a talk going on that having cash of more than 5 Lakh may not be permitted.  Let us wait for a few more months to see Govt initiative on this. 

Government's intention is to reduce the black money. The good initiative only.  But slowly digital currency will only be available. Especially after GST implementation and demonetization App based payment wallets have become popular in India.

I am sure this must be popular in other developed countries in the west and East.

 It will be easy to bring in a similar system in other poor or developing countries in the world within 10 to 15 years of time frame. 

So sooner, the digital currency will be unavoidable throughout the world.

This calls for wisdom. (Revelation 13: 18).

 Let the wise men and women read Revelation chapter 13 verses 11 to 18.

Your buying and selling will be controlled today by Governments but tomorrow????

Be prepared. 

Behold, I am coming like a thief! Blessed is the one who stays awake, keeping his garments on, that he may not go about naked and be seen exposed! Revelation 16: 15

But know this, that if the master of the house had known in what part of the night the thief was coming, he would have stayed awake and would not have let his house be broken into.  Mathew 24: 13

For you yourselves are fully aware that the day of the Lord will come like a thief in the night.  1 Thessalonians 5:4