Post-demonetisation, focus now on flow of black money: Arvind Subramanian

CEA said government was mulling at taking strong action to arrest the bad bank scenario

Avoiding any comments on the note ban process undertaken by the Centre, Chief Economic Advisor Arvind Subramanian on Friday said that the focus should now be on arresting the flow of black money.

Speaking as part of his lecture 'The Surprise that is the Indian Economy' at the Indian Institute of Management, Ahmedabad (IIM-A), Subramanian said the focus on the flow of black money may involve some carrot and stick methods.

"Black money has two dimensions including money made from prohibited activities and that made legally but not disclosed. There is a stock and flow of black money. Now that