These recommendations are essential for mitigating the challenges faced by the common people post-demonetization and reinstating their faith in the government.

To,
The Hon’ble Finance Minister, Govt. of India
Vice Chairman Niti Aayog, Govt of India
Secretary-Ministry of Finance, Govt. of India

Dear Sir,

FKCCI Announces India CSR & Sustainability Conference & Awards 2025

Greetings!

I am writing this to suggest some damage control mechanism in the light of problems faced by common people who faced problems due to demonetization.

1. Introduce the note of Rs 200 /300 like UAE and many other economies. Attached example of UAE.

2. Publish Public Apology for the inconvenience caused to People.

3. Install ATM machines in all government offices.

4. Introduce An App from RBI which can work as an App based currency

5. Allow all NRIs workers to exchange currency to a maximum of 10000 INR till next one to 2 years. This will enable the Labour coming from abroad.

6. Open a Cash Exchange Counter in all Indian Consulates all over the world to allow exchange of currency for NRIs to certain limit.

7. Make it mandatory for all company having more than 500 people to have ATM in the company premises.

8. Announce one time Income Tax Rebate of 5 percent or 10 percent to compensate for the inconvenience of the common working class.

9. Implement large number of ATM machines in all post offices, BSNL offices, Railway Stations, Airports and high density areas.

10. Install ATM machines in all schools, colleges, universities having more than 500 students.

11. Make it mandatory to have ATM machines in all hospitals and automobile workshops.

12. Make it mandatory for all currency exchange houses to have ATMs. next to them.

13. Abolish Service Tax Payment for all government employees as it is unlawful to do multiple taxation leaving with them less than 50 percent of salary with them due to unlawful enforcement of income tax and service tax with many other taxes. The individuals should be required to pay income taxes in the amount left in their account after making all cashless payments.

14. Please re look in the process of calculation of income tax on individuals. For corporates, the Income is calculated as Revenue-cost equals income.

Whereas for Individuals, total Receipts as salary is considered as Revenue and only HRA is considered as cost and is granted exemption and few other costs like dress and Travel Allowances.

15. All cashless expenses of individuals on essential commodities must be treated as expenses and must be exempted from income tax.

15. This will enable to reinstate the faith of the common people which has eroded in a big way due to demonetization process.

16. Tax exemption of 5 percent may granted to all businesses accepting cashless payments.

17. All Trains should have an ATM facility which can be recharged in various stations.

18. All state highways and National Highways must have have ATMs at every one or Two kilometer.

19. RBI must develop an App of all ATMs for people to locate nearest ATM along with their functioning status.

20. RBI Governor and Honorary Prime Minister should make their email ID public to listen to the grievances of people and resolve them amicably within stipulated time period.

21. All Malls and High Rise Buildings, Apartments more than 100 must compulsorily have an ATM inside the campus.

22. Government of India must start a company on the lines of Visa Card and Master Card with global network and ensure that customers are not charged a single penny when they are paying by debit card or credit card.

23. All Annual Charges for Debit Cards, Credit Cards, and Charges for Minimum Average Balance Charged by Banks must be abolished with immediate effect.

24. Unlawful enforcement of service tax on various banking transactions must be abolished for common masses.

25. Invite suggestions from People through various communication channels and compensate them for the losses incurred by them to some extent if not all.

26. Announce compensation for people who lost lives in the process of withdrawing money after verification.

27. Ensure compulsory registration of all SMEs Free licensing but compulsory registration. All high value goods above 500 or sales above 5000 per day must compulsorily accept cashless payments.

28. Cashless payments must be incentivized and not penalized.

29. Govt. Should announce some lottery scheme for businesses using cashless payment and paying income tax honestly to award them in cash and kind at state levels and honor them.

30. Compulsory installation of one ATM in every village at a common place near market or other strategic location.

31. Compulsory installation of ATMs in all court complexes.

32. All ministries to be advised to ensure installation of ATMs in high density areas.

33. The Hon’ble Prime Minister may please be requested to introduce a Ministry for Happiness on the lines of UAE Government.

34. Rate of interest charged by various banks including penalties etc. must be regulated properly with proper check and balances.

35. NCAER may be requested to conduct nation wide primary research to analyse the problems and challenges of common man and recommend a strategic plan with action roadmap.

The above recommendations will go a long way in reinstating the faith of the common people in the government and government machinery.

Look forward to your kind and valued consideration for further action with a time bound approach.

Thanks and warm regards,