B.M. Singh (for Info only, not official)


B.M. Singh

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    ...A presumption has been made that they mostly reflect black money or unaccounted wealth. A bold move indeed and there are many who have been caught unawares with a bagful of notes. However, the question is: does it fundamentally change the dynamic of corruption or does it have only cosmetic value? Here is a look at it from a slightly different perspective. Unaccounted wealth in the form of cash stashed away is only the tip of the iceberg, so to speak. The move itself would target at the most 5% of the population, while the pain will be felt by 95%, albeit for a few days. Take the example of the daily wage earner who does not get paid and cannot feed his family, as cash is not available. Or the rehriwalla who goes around without selling his wares which could be perishable. For them, it was more like carpet-bombing on the cash economy rather than a surgical strike on black money! ...

    Live Mint on Nov. 15, 2016, 2 a.m.