Demonetisation Measures May Not Really Help in Curbing Black Money: M. Govinda Rao

Demonetisation Measures May Not Really Help in Curbing Black Money: M. Govinda Rao: pPrime Minister Narendra Modi's announcement demonetising high denomination notes on November 8, 2016, will do little to address the prime objective of flushing out black money but will adversely affect the economy in the short term, especially the informal sector, which is predominant in India, says bM. Govinda Rao/b, a Member of the Fourteenth Finance Commission and Emeritus Professor, National Institute of Public Finance and Policy./ppRao has held a number of advisory roles in India and abroad, and was member of various high-level committees including, the Economic Advisory Council to the Prime Minister of India (2004-2012), the Financial Sector Legislative Reforms Commission (FSLRC) (2011-13), High Level Expert Committee on Universal Health Coverage (2011), High Level Expert Committee on Efficient Management of Public Expenditure (2011-12); Advisory Group of Eminent Persons to Adviser the Finance Minister on G-20 matters (2011-12). He was also Chairman, Expert Group on Taxation of Services (2001-02)./ppIn an interview with bS. Rajendran/b, Karnataka Representative, The Hindu Centre for Politics and Public Policy, Rao, who is also Advisor, Deloitte Touche Tohmatsu India LLP, and Chief Economic Adviser,%2