De­mon­eti­sa­tion, Yes; Ben­e­fits, No

The Economic Times - - The Edit Page -

The news that coun­ter­feit cur­rency notes of .₹ 2,000 have sur­faced is bad news for the gov­ern­ment that had fac­tored in the end of coun­ter­feit cur­rency as one of the gains of de­mon­eti­sa­tion. Re­cent events in Kash­mir too have shown that there is lit­tle ev­i­dence to show that de­mon­eti­sa­tion has had a salu­tary ef­fect on ter­ror­ism as was claimed. Now it only re­mains to be seen if it has dented the black money menace or in­creased tax rev­enue for the gov­ern­ment. The si­lence of the RBI and the fi­nance min­istry on these mat­ters sug­gests that none of the ob­jec­tives of DeMo have been ful­filled.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.