The government’s high profile war on black money has generated mixed responses. The latest announcement of the demonetisation of high value bank notes is of the “shock and awe” variety of measures. In fact, when the Morarji Desai government had demonetised high value bank notes in 1978, it cancelled only those notes with values of Rs. Still, all this this would have been worth it, if indeed such a move would eliminate all black money in the country. Surely this is not the kind of black money that is being sought to be forced out into the open?

Source: The Hindu November 15, 2016 05:15 UTC