Operation Clean Money: War on black money is only half-won

Narendra Modi's measures to bring tax evaders to book has met with limited success

On a November evening last year, bang in the middle of his five-year term, Prime Minister Narendra Modi addressed the nation, announcing that Rs 500 and Rs 1,000 notes would be taken out of circulation.

In his speech on November 8, Modi said, “To break the grip of corruption and black money, we have decided that the five hundred rupee and thousand rupee currency notes presently in use will no longer be legal tender from midnight.”

In subsequent public speeches in those initial heady days after the note ban announcement there were suggestions and expectations that the move could bring