 "Illustration by Ajay Mohanty")
Demonetisation has clearly been a very controversial move. The critics will argue that none of the black money actually got immobilised, with all the cash being deposited, and there has been no lasting impact on corruption. As cash is coming back so are the demands of the corrupt. The bulls will point to increased digital payments, lower interest rates due to cash coming back in the system and eventually a rising tax base.
Both sides have valid points, but be that as it may, there are two clear benefits of the demonetisation and more broadly the war against black money.
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
