Chasing tax evaders’ black money isn’t an invitation to a banquet (apologies to Mao Zedong). It’s a huge challenge for the government, thus the need to change the rules to keep these hoarders in check. It may look like a flip-flop, but that would be unfair, as it implies the critics want the government to act on the basis that all citizens are crooks and make laws so stringent that it could cause problems for the honest for the sake of a few black sheep in a nation of over a billion people.
So it was par for the course for the government to put a limit suddenly on the one-time surrender of old Rs 500 and Rs 1,000 demonetised notes. Genuine holders of such notes had long surrendered them. Those who, after six weeks, had still not surrendered the notes are obviously those who had hordes of currency to dispose of, thus asking for an explanation of the delay was logical.
To accuse finance minister Arun Jaitley of not keeping his word that no questions would be asked nor would there be any inquiry of those submitting old demonetised currency notes below Rs 2.5 lakhs is also unfair. This was misused by people who routed illegal money into Jan Dhan Yojana accounts. The government can’t be faulted if it scrutinises these accounts now suddenly flush with deposits.
The government has also done a so-called turnaround in allowing another amnesty scheme till March 31: Pradhan Mantri Garib Kalyan Yojana. But this was announced after it already got huge deposits following the November 8 demonetisation scheme.
