The Central Board of Direct Taxes (CBDT) recently invited suggestions from the public on curbing black money and has received some curious proposals. Among them is a proposal that CBDT should not accept yoga guru Ramdev’s demand to scrap high-denomination notes (Rs 500 and Rs 1,000) from circulation but tell the public it had done so. This official fib, according to the proposer, will dissuade producers of counterfeit notes from circulating currency in these denominations. Perhaps the proposer overlooked the fact that Ramdev’s demand is aimed at checking black money and not at counterfeiting.
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