Sir — liquid black money is just the tip of the iceberg of the black wealth. It constitutes only five per cent to six per cent of the total black assets and is actually less than the percentage share of an iceberg — the tip.
The Government has not touched the ‘black solid’ of gold, benami property and the ‘black liquid’ of foreign bank deposit abroad. This underwater iceberg can wreck even a titanic economy. Complementary steps like weeding out black assets and banning cash transactions of over Rs 50,000 must be taken so that the sufferings of the people is made worthwhile. Otherwise, the ongoing demonetisation will be reduced to abolishing fake currency, which could have been done in a smoother way.