Sir — This refers to the article, “Breaking the back of the black” (November 18) by Sanju Verma. The secrecy with which the demonetisation scheme was planned and carried out by Government and the Reserve Bank of India is remarkable. In an economy where transactions took place mostly in cash, the level of disruption was immense. However, gradually, the economy is getting digitised and moving towards a cashless system.
Electronic transactions will ensure a clear money trail and make life ‘difficult’ for tax evaders but the recent move is unlikely to hurt the ‘flow’ of black money ie its further accumulation. The Government must reform financing of political parties. If political parties are brought under the ambit of RTI and are forced to declare where their donations are coming from, in a periodical manner, the nexus will come under proper scrutiny.