| Remove "and a transaction cap" part, you are correct. Going cashless will solve terrorism and counterfiet problem. World is going cashless and naturally India would have gone too without the huge cost of banning notes. However I have different issue with this, allow me to quote http://economictimes.indiatimes.com/news/politics-and-nation... Corruption and black money are a consequence of big government, of one set of individuals having discretionary powers over the actions of others. If Modi was serious about tackling black money, he'd bring about institutional changes that would take us towards the minimum government he had promised in his 2014 campaign. Instead, government keeps getting bigger, controlling more and more of our lives. More government = more corruption. Also Center/Modi wants to make prosecuting corrupt public officials more difficult and bribe-giving a criminal offence. Considering giving bribe is unavoidable fact-of-life and cost of doing business in India, Center wants to make CEOs responsible [1] [2]. And I say this as someone who voted for Modi. [1] http://economictimes.indiatimes.com/news/politics-and-nation... [2] http://indianexpress.com/article/india/india-news-india/brin... |
Example is Denmark with one of the largest governments in the world but still among the countries with lowest corruption.