Demonetization is being said to check black money as people have to transact through banks to exchange 500 and 1000 notes, but Is demonetization really checking black money
Don't you think that hard cash earned by business class or employees or even politicians are accounted for?
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Is demonetization really checking black money?
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The demonetization can well trigger a recession, while not entirely addressing the black economy. This will affect only those individuals who hold cash. Others who have already converted their money into assets, and invested in gold and other luxury items will be only marginally affected.