Insight: India's black Czars stung, sign of success or failure?
By NewsX Bureau
| Thursday, December 29, 2016 - 22:37
It is almost the end of the 50-day deadline of the black money crackdown. While the move was taken to cut down on the black money splurge in the country, a total of nearly Rs 3,185 cr have so far been seized in over 650 raids conducted by the probing agencies since the govt's November 8 demonetisation drive.
From former minister and mining baron Janardhan Reddy in Karnataka splurging an astonishing amount of Rs 100 cr at his daughter's wedding, to the sand baron Sekhar Reddy and former Tamil Nadu chief secretary in controversy after the raids at his residence and Delhi lawyer accused of laundering nearly 70 crores of black or untaxed money since the notes ban, the probing agencies have their hands full of black money seizures.
The question however remains that despite the crackdown and seizure of thousands of crores, has it been a successful move?