How much black money was recovered by "Demonetization"?
This is a big question that there are few clear answers for.We had heard numbers like $45B before [1] now based on public sources, it seems the GoI intends to cut its borrowing by $2.64B in the coming year [2].
When you compare this with the typical numbers reported in a VIDS (Voluntary Income Disclosure Scheme)- it is a comparable number.
So after all the hassle created by demonetization - it doesn't look like it has generated that much more income than a VIDS.
There is a law of diminishing returns on these things. I will leave it to the Modi Bhakts as an exercise to figure out what that is.
posted by maverick @ 5:24 AM
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