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The alternative which is not going to happen i.e. allowing new and old money till December is most pragmatic. The government want to rein in the black money, and if permitted in this manner after the announcement of demonetization, a lot of money would get deposited in the banks. Govt should for the time being forget about which is white and which is black. After 31st March-2017, they can go on inquiring on this. The main objective of the exercise, to my mind, should be to gather in the money outside legal transactions, in the banks. All other purposes are secondary. In fact there is no strict category as white and black, as there is grey money also, which is in transition and can get into any side. Even an amnesty or a lenient penalty may also be considered with this view.


ashok KULKARNI , India 18/11/2016 06:12:34

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