Not just pre-2005 ones, Ramdev wants blanket withdrawal of all

Yoga guru Ramdev today urged the government to withdraw all higher denomination currency notes issued till date and not just the ones printed before 2005, saying that such a move would help curb black money and corruption.
The decision to withdraw by March 31 all currency notes issued prior to 2005 was taken in "haste" and would only partially help check the flow of "fake currency", Ramdev said.
The government should withdraw all currency notes of higher denomination issued till date, involve people in the banking system and put in place a simplified taxation model to address problems of black money, corruption, inflation, fake currency and economic crisis in general, he said.

"The recent move to withdraw pre-2005 currency notes will not have a major impact in solving these problems," he said at a press conference here.
The majority of the people are "scared" to go to banks because of the taxation system and the fact that bank transactions are "traceable", he averred.
"Electronic transaction and simplification and automation of taxation should be introduced to save the country from taxation terrorism and economic anarchy," he stressed.

"If the banking system is improved in an effective way, 99 per cent of the problems of black money and corruption would be solved and India would be freed from economic anarchy," Ramdev said.

"According to estimates, there are fake currency notes worth Rs 1 lakh crore in circulation. That is really dangerous as it leads to economic instability," he said.
He also cited the RBI's data according to which he said 94 per cent of the currency notes were of higher denomination - Rs 500 currency (45 per cent), Rs 1,000 currency notes (37 per cent) and Rs 100 notes (12 per cent).
Taking a dig at Congress, he further said that those who "claim to be running the economy of India for 68 years have destroyed the country.