President Camacho
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All those presuming it is the big currency notes causing corruption are wrong. The main cause of corruption is the corruption of character, and most of our politicians suffer from it. If it were not for the folks in the government, the problem of black money would have been solved long ago. Big currency notes play no part in it.
Take the example of Chaudhary Charan Singh's efforts to counter the problem of black money. When he was the Prime Minister, he introduced a complete change of all the currency notes, in order to nullify the value of black money. Whoever wanted the new currency notes, could bring in his older notes and have them exchanged, something which would have brought out a lot of black money, while the hidden one would hold no value more than raddi.
But you know what happened? Those who supported him, pulled the plug on him (for various other reasons as well). His policies could never enacted. So you have to find an ingenious way like that. Just getting rid of bigger notes will create a lot of problems in business dealings, especially in rural areas. 1000 rupees of today aren't worth 100 rupees of 90's.
Take the example of Chaudhary Charan Singh's efforts to counter the problem of black money. When he was the Prime Minister, he introduced a complete change of all the currency notes, in order to nullify the value of black money. Whoever wanted the new currency notes, could bring in his older notes and have them exchanged, something which would have brought out a lot of black money, while the hidden one would hold no value more than raddi.
But you know what happened? Those who supported him, pulled the plug on him (for various other reasons as well). His policies could never enacted. So you have to find an ingenious way like that. Just getting rid of bigger notes will create a lot of problems in business dealings, especially in rural areas. 1000 rupees of today aren't worth 100 rupees of 90's.