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Modi’s Historic Move: Through demonetisation, the government is attacking the currency of corruption

December 28, 2016

By MJ Akbar

The rationale for the most transformative event of 2016 is uncomplicated. All cash transactions are not corrupt. But every corrupt transaction is in cash. High denomination notes are the currency of corruption. If you want to challenge corruption root and branch you cannot merely trim the branches periodically to appease public opinion. You have to attack the curse at the roots.

Corruption is the mechanism through which a section of our elite has poisoned the credibility of our nation’s political and economic edifice. Governments have been either complicit or helpless as high end individuals, buoyed by the arrogance of unaccounted wealth, began to believe that they were above the law or beyond the reach of coercive instruments. That comfort zone has been wrecked. And the message that Prime Minister Narendra Modi offers for 2017 is clear: those who turned corruption into a doctrine will pay a heavy price......[Read More]

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