Demonetisation was not an appropriate response to the blackmoney issue, former Prime Minister Manmohan Singh today said and suggested that the government simplify tax and administration systems to address it. The answer to blackmoney problem was to simplify our tax, land registration and the administration systems. That was the only way in which the country could move forward in a society where there was less role for blackmoney generation, Singh said interacting with students of St Teresa’s College, Ernakulam here.
Singh said he believed that demonetisation was not an appropriate response to the blackmoney problem. He said demonetisation had caused a lot of distress to farmers, small industrialists and many people died while standing in queues in front of banks to get cash because of the ban of Rs 500 and Rs 1,000 currency notes last year.

Demonetisation was not an appropriate response to the blackmoney issue, former Prime Minister Manmohan Singh today said and suggested that the government simplify tax and administration systems to address it. The answer to blackmoney problem was to simplify our tax, land registration and the administration systems. That was the only way in which the country could move forward in a society where there was less role for blackmoney generation, Singh said interacting with students of St Teresa’s College, Ernakulam here.
Singh said he believed that demonetisation was not an appropriate response to the blackmoney problem. He said demonetisation had caused a lot of distress to farmers, small industrialists and many people died while standing in queues in front of banks to get cash because of the ban of Rs 500 and Rs 1,000 currency notes last year.