Media Watch: Meath VS Reality


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Photo Credit: Petr Kratochvil

….Many naive folk think demonetisation will deal a body blow to black money and shift India towards a clean, cashless economy. Sorry, but the benefits will be limited. Black money is both a stock ( that is, a hoard of past untaxed money) and a flow ( the constant generation of fresh untaxed income).

As a stock, probably not even 2 percent of historical black hoards are held in cash- almost all have been converted to gold, real estate through inflation, so no savvy person holds large hoards. The vast bulk is converted into assets across the world and much is brought back to India ( Via Mauritius and othjer legal routes) to be invested in Indian shares and real Eestate. The voerwhelming stock of black money has been laundered into white ages ago.

-Excerpt from SWAMINOMICS BY SWAMINATHAN S ANKLESERIA AIYER SUNDAY TIMES OF INDIA, NOVEMBER 13 2016

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About shanthanubh

A calcutta(India)based Independent newsresearcher and Investigative reporter.He has been working as a journalist for more than 15 years.He had worked as a news researcher for various news based programs in Calcutta.Shanthanu considers Deborah Potter and Theressha Collington Moore as his mentor because in his early days of journalism carrier, he was inspired and motivited by their works and learnt a lot from them about media ethics and news research.Though,a news researcher don't get enough credit for his job,he sticks to it.He believes that as journalists we should follow the jounalism mantra that if your mother says she loves you, check it out.we work as a store clerk.we believe that facts are more important than adjectives.Earlier,he also worked as a private investigator to brush up his skill as an Investigative Reporter.

Posted on November 16, 2016, in Digital News Research and tagged , , , , . Bookmark the permalink. Leave a comment.

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