Interesting Reads

In India, Black Money Makes for Bad Policy;

Tackling corruption also goes beyond currency, cash or even banking. It requires changing institutions and mind-sets, and carefully crafting policies that acknowledge the complexity of economic and social life. The government could start by increasing penalties for tax evasion and amending India’s outdated anti-graft laws.

In a country like India, where the illegal economy is so intimately intertwined with the mainstream economy, one inept government intervention against shadow activities can do a lot of harm to the vast majority, who are just trying to make a legitimate living.

A society can’t be served by intention alone;

Which brings one to the third and final lesson: No idea is worth the paper it is written on unless it can be executed well. That the demonetisation measure needed utmost secrecy because of its stated objective is a given. However, a prior study of execution capacity would have been vital.

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