Press Release (ePRNews.com) - PANIPAT, India - Nov 30, 2016 - In view of the changing scenario at national level owing to the situation arising out of demonetization step by the Prime Minister of India, a seminar cum views sharing session was held at Panipat Institute of Engineering and Technology (PIET), an AICTE approved institute affiliated to Kurukshetra University, Kurukshetra which is known as the Best Engineering and Management Colleges in Delhi NCR, Haryana and North India, It is an institute which is believed to have a strong structural and academic integrity and is consistently functioning for its desired purposes and service to the society in the field of education, morality and technology. Although the all round impact of forces is enormous, the strong management here is never sidetracked between ‘what is’ and ‘what ought to be’, and as it should happen the ‘what is’ works favourably.
The discussion was headed by Shri Rakesh Tayal, Memebr BOG, PIET and attended by PIET faculty team and a group of print media personnel. While all the intelligential highly appreciated this step, which is not only unique but a bold one in a country like India where people are not much literate and most business (90%) is done with cash transactions. India becomes the second country after the USA to adopt this course to curb Black Money, corruption and Tax Evasions at one go.
An analysis of the ‘Cash Crunch‘ at Bank counters was term as a passing phase, which is very normal in case of transitions from one system to another. Actually a panic situation has emerged only due to lack of understanding among the common man, who never been prepared to take such a big leap from paper money to plastic money. We all know that in the era of smart phones, which are used by all categories primarily for fun, it is not very tough to train people to learn the use of Apps which help in cash less on-line transactions. Right now even some banks are also launching their own apps for the purpose, which of course would be free for account holders, to help and encourage masses in this direction.
It was also opined that once the things settle down, which may take a quarter or so, the economy should be stronger. With the quantum of tax collection surging, commodity market will be consumer friendly with rates dipping down and making life easy.
Later in the evening, Shri Rakesh Tayal was also invited to the office of Dainik Jagran to participate in a similar seminar wherein some renowned people of the Panipat City participated.
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Panipat Institute Of Engineering & Technology