Modi’s black money masterstroke came after two years of planning
by T. Brajesh Wednesday, November 9th, 2016
Prime Minister Narendra Modi’s masterstroke aimed at clamping down on black money did not come all of a sudden or as a knee-jerk reaction. PM Modi’s game-changing move to demonetize Rs 500 and Rs 1,000 notes is, in fact, the result of well thought-out planning spanning over two years. The plan began to be executed soon after Narendra Modi took over as Prime Minister in 2014 itself. Since then it was a well-kept secret to avoid any leak of sensitive information.
PM Modi ensured that even his Cabinet too was not aware of the move. His team was informed of the plan shortly before Tuesday’s address. Modi’s intentions were clear and without any ambiguity. He sought to stop the transaction of black money at any cost.
Actually, Modi knows that with this move in place people would be compelled to use only legitimate transaction networks, which would automatically make the government’s tax kitty bigger. The Modi government took very effective steps over two years paving the way for the final crack-down in the form of demonetization of high value notes.
Next: First step towards demonetization of Rs 500, Rs 1000 notes