Boostrapping : CURR.04 - Cancellation of Foreign Debt
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Proposed administrative procedure - CURR.04
Cancellation of Foreign Debt
Purpose : To cancel odious debt
Pre-requisite reading : CURR.02
Cancel all foreign debt
Using LM.03, the citizens of India should cancel ALL the debt on GoI and State Govt, and Govt-owned bodies which are denominated in foreign currencies, after paying the bowrrowers Citizens' Legal Tender at a pre-decided rate mentioned in the draft which cancels the debt in foreign currency.
Draft of the act to create procedure CURR.04
To enact CURR.04, the citizens would need to pass "RLPP/Jury over RBI/SBI" Act in the Parliament. The draft of the Act is given here.
It will be wiser for citizens to first enact procedure LM.03, and then use LM.03 to pass this act. To know about procedure LM.03, please click here.
If you have any other question, please mail it to MehtaRahulC@yahoo.com. Thousand thanks in advance.
Next - CURR.05 : Eliminating Underground Banks