From: Frederick FN Noronha: Still trying to understand what exactly were the motives for the demonetisation, and that too so hurriedly.
It's increasingly becoming clear that most of the black 'money' problem isn't even in the form of money! (Gold and real estate are clearly bigger issues, and not just benami transactions in real estate -- as the PM suggested -- but the entire overwhelming of that sector by un-taxed money. ----------------- GL responds: Hate to contradict a resident knowledgeable Goan. All we have to go by is the results of his actions to unearth "black money." In the various actions taken, the RBI / IT (tax) dept. reported results that have been pretty spectacular. Modi has taken on the Gujerati business community and the gold and diamond merchants. Goans have been perennially complaining about the corruption at the Cental Govt. Now something is being done about it. Give the PM and FM (Finance Minster) their due for courage to do something to bring about a change! Hope this brings about a change in India's low ranking in the world for doing business. Regards, GL
