Taxation gains

With reference to “The demonetisation puzzle” (November 7), if we look at the demonetisation exercise on a standalone basis, it does appear to be a conundrum extraordinaire. The disruption cost caused clearly outweighed the intended objectives in the short term. However, if it is seen as one of the pieces in a jigsaw puzzle, one might not be surprised especially if he looks at the series of economic events or measures unfolding in its aftermath.

It is a no-brainer that the menace of black money cannot be wished away just with the banishment of old high-denomination notes. To tackle it, a