<b>Percy Mistry</b>: Collateral damage of demonetisation

A corrupt political-administrative nexus is the real disease, not black money

After 50 days, it is clear that demonetisation has failed, with severely damaging consequences. Many have attempted to defend it as an inconvenience that will be forgotten when its long-term beneficial effects take hold. Over a hundred deaths, billions of man-hours in queues waiting in vain for cash, millions of lost jobs and incomes, are mere inconveniences?
 
Instead of course-correction, through remonetisation and roll-back of counterproductive measures, Prime Minister Narendra Modi is doubling down, with the promise of more action. His bombastic rhetoric is shriller. Intending to curb black money, Modi has instead damaged millions of ordinary Indians. Whether