Did the Modi Government sell its Soul to America?

A recent report on the Net titled “745-washington- s-role- in-india.pdf” exposes that cashless exchange was part of an agreement named, “Catalyst: Inclusive Cashless Payment Partnership” between India’s Finance Ministry and the American agency, USAID, on October 14, 2016. Even development of Adhar Cards and biometric identification system were geared towards imposing these measures, which creates digital control over banks. USAID report entitled ‘Beyond Cash’ was prepared, in 2015, and several US Multinational giants like Microsoft (Bill Gates foundation), Omidyar Network (eBay), Dell Foundation Mastercard, Visa, Metlife Foundation were involved with it. All of them stand to benefit. They will become Digital middlemen, who will process these transactions and monopolise business opportunities of banking transactions by uneducated and unfamiliar clients for a fee. They will charge around 2.5% on each transaction apart from the banks who will charge 1% and the government, which will impose separate taxes, increasing the transaction burden. Here’s a report, in Different Truths.

A meeting of UP committee of CPI(ML) ND has questioned the Modi government’s intentions of withdrawing high denomination currency, then imposing cash restrictions and promoting cashless digital transactions as unpatriotic moves against the interests of Indian farmers, traders and small and medium industry. Modi government’s real motive is further exposed by his making Demonetisation and GST as central theme in the Vibrant Gujarat Summit in which he used these as measures to invite foreign investors, stating these will help to promote their profits. His moves invited lavish praise from Indian Corporate Giants, Ambani, Tata and others and by several US leaders and this further exposes that they are against the working people, according to a press release.

It was informed that a recent report on the Net titled “745-washington- s-role- in-india.pdf” exposes that cashless exchange was part of an agreement named, “Catalyst: Inclusive Cashless Payment Partnership” between India’s Finance Ministry and the American agency, USAID, on October 14, 2016. Even development of Adhar Cards and biometric identification system were geared towards imposing these measures, which creates digital control over banks, peoples’ accounts by foreign powers and the Indian government. It gives them extra-constitutional powers to impose restrictions on anyone who opposes them.

USAID report entitled ‘Beyond Cash’ was prepared, in 2015, and several US Multinational giants like Microsoft (Bill Gates foundation), Omidyar Network (eBay), Dell Foundation Mastercard, Visa, Metlife Foundation were involved with it. All of them stand to benefit. They will become Digital middlemen, who will process these transactions and monopolise business opportunities of banking transactions by uneducated and unfamiliar clients for a fee. They will charge around 2.5% on each transaction apart from the banks who will charge 1% and the government, which will impose separate taxes, increasing the transaction burden, the press release added.

Modi government’s demonetisation move had diverted attention of people from corruption money of officials accumulated as Benami properties and gold in name of their wives and children, 72% of all black money stashed abroad, hidden names of black money account holders, 782 in HSBC bank, 600 in Swiss Bank, 500 of Panama Papers, apart from Mauritius route investors and names of Corporates, whose bank loans worth Rs 1,14,182 crores have been waived by Modi government, it was stated.

The Modi government had also increased the permissible limit of transfers to foreign banks from $ 75,000 to 2,50,000 to help foreign account holders at a time when Indians are facing a severe cash crunch.

CPI (ML) has demanded immediate waiver of KCC and other loans of farmers and Microcredit loans of workers as measures to relieve the burden on Indian people. It questions the policy repeated raising of diesel cost which is sold at more than double the purchase price. Extra money deposited should be used for these reliefs, according to the press release.