DailyO: Government needs to think more than scrapping Rs 500/1,000 notes to curb black money

My column about the government’s move to ban high value legal tenders from midnight of November 8. Good move, but the introduction of ₹2000 notes does not appear sensible. Government must think about cashless economy.

Photo: Indianexpress.com

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One response to DailyO: Government needs to think more than scrapping Rs 500/1,000 notes to curb black money

  1. sen Joseph

    No, the move itself is defective, cashlessness cannot be allowed unless we attain a certain level of abundance in Physical Production, token currency and coinage were introduced due to scarcity of resources, historically in copper age and in 14th century AD, historical context for abundance has not yet dawned, hence tokens have a valid stay, to clamour for cashlessness is putting the cart in front of the horse

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