Why the Demonetisation Policy of Government is BAD POLICY BAD Targeting Policy Implementation

[Parameshwar P Iyer]

Sorry folks. This is not about bad planning and implementation, which is any way the USP of all our Governments.

Parameshwar P Iyer My point is that even if the so-called demonetisation were done very efficiently, this was never going to be aneffective policy. We are talking about catching the small (nay, micro or nano) fish, The really big fish (which account for over 95 per cent of the so called "balck money" obtained through various corrupt practices) is having fat accounts in Swiss Banks, and easily escapes any attempt by (rather colludes with) the Government(s) of the day. Please catch a Vijay Mallya, a Lalit Modi, a Janardhan Reddy, or even Sonia Gandhi, each of whom have illegal welath of lakhs of croroes, stacked abroad in all kinds of illegal accounts, and bring them to justice, My point is, catch the bid fish first, inclidung the hundres of people having illegitimate Swiss accounts (and these have been known, identified, and offered to the Government of India). Prof. S. Vaidyanathan, IIM Bangalore,  and Mr S Gurumoorthy, BJP Idealogue Economic Wizard, have publicy stated in TV and other media programmes, that there is complete information with the Government on the tax defaulters, havala trnsactioners, and others hoarding balck money. They have estimated the amount of illegal money stashed abroad at between 100 and 500 billion US Dollars ( Rs. 700 lakh crores and 3500 lakh crores). That should be the place to start; not trying to catch the low hanging fruit. In the present instance, there will be a lot of collateral damage. A lot of bucks will go watsed, but the impact will be minimal. In other words, no bang for the bucks being spent