The daily said in an editorial on Monday that there was little evidence that it had identified black money hoarders or curbed graft in the country. “Two months after the Indian government abruptly decided to swap the most widely used currency notes for new bills, the economy is suffering,” the Times said. Modi said this was necessary to combat corruption, black money and terror funding. “Because of those rules, officials had expected that a lot of black money would never make it back to banks. But their patience won’t last if the cash crunch continues and the swap does little to reduce corruption and tax evasion, as many economists predict,” the daily said.

Source: Indian Express January 10, 2017 16:20 UTC