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Demonetisation ineffective against black money, says former CEC

Demonetisation ineffective against black money, says former CEC

New Delhi: Om Prakash Rawat, retired Chief Election Commissioner, said on Sunday that note ban was ineffective in checking black money in the nation.

Demonetisation didn’t cut down the misuse of black money in elections against the hopes that the ban would bring down such practices. However, in some states more seizures were reported compared to previous years, he said two days after his retirement on December 2.

It appeared to him that political class and their financiers had no dearth of money.

In order to reduce black money, he suggested, there should be a cap on expenditure by political parties in polls like current limit on spending by individuals.

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