Monday, 20th January, 2020

Where did the black money go? The Demonetization mystery solved, nearly 2.5 lakh crore black money obliterated

06, Sep 2017 By chanakyan

“The demonetization exercise was well thought off, and was launched with impeccable planning, and it has reaped it dividends in the right time” Said the official spokesperson of the BJP to the official reporter of faking news today. The interview was given in the wake of the revelations made by the former RBI chief Raghuram Rajan, and the cacophony the opposition is making in the news channels.

‘One of the major objective of the exercise was to destroy the black money in the country, and we were totally successful in that’. We have obliterated about 2.5 lakh crores of blackmoney from the system for ever. What we currently have is the ‘sanitized, cleaned and a nearly all white economy’.

Reacting to the reporters repeated queries for some documentary evidence for the same, the spokeperson gave the data released by the government last week. “About 2.3 percent point drop in the economic activity is what I am talking about”, “this is worked out by your community (PRESS) to be around 2.5 lakh crore. In my opinion it is a very conservative estimate. We wanted the GDP to fall by about 3 percentage points, so that our original estimate of 3 lakh crores of black money would have been totally obliterated.” If the voluntary disclosures and IT department investigations are not providing sufficient results, this government is willing to exercise this option again. Our PM would be requesting all blackmoney hoarders to voluntarily give up the money in national interest, but if there is no cooperation, the government would be looking at tougher measures like increasing the fuel (petrol and diesel) prices to triple digits, and the cooking gas to 4 digits in a few month’s time. “With this exercise we are very sure that the black money, whatever remaining would be sucked out of the system” he added.

Answering to the reporters query about the possibility of the common getting affected with such moves he said “common man simply loves this. Look at our electoral victories after demonetization. It shows that the small acts of inconveniences are cherished by the common man. It is the business owners and babus, and corrupt politicians from the opposition who are getting a heart attack every time.” Asked whether the next demonization decision would have anything to do with the 2019 LS elections, he refused give a clear answer. “it is the prerogative of the PM, and he would exercise it in the right time, taking into account the national interest. We should be happy to have a PM who can take really tough decisions almost all by himself”.