Letters: Rajan's problem

I fully agree with Deba Pratim Ghatak’s letter, “Riding on glamour” (September 20). I will examine some of the statements made by former Reserve Bank of India governor Raghuram Rajan and what he writes in his book, I Do What I Do.
 
Rajan said there were better ways than demonetisation to achieve the objective of removing black money. But he does not state any, except tackling over-invoicing by companies in a general way without mentioning import or export.
 
Consider invoicing of import: Nearly 50 per cent of import is of oil and by government undertakings. For the rest,