Endorsing the latest move to clean up the economy, Justice (retired) M B Shah, chairperson of the Special Investigation Team (SIT) on Black Money, Tuesday night described the government step as “very bold” and “path-breaking”.
Justice Shah told The Indian Express: “I certainly see this as a very bold and good move and I am happy that our task of taking out black money from easy circulation, which we thought was so complicated, has been resolved with one stroke.”
The SIT, constituted immediately after the Modi government came to power in 2014, has submitted several status reports to the Supreme Court.
Justice Shah said they have been making various recommendations but none as bold as the one by the government.
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“We had no idea this was coming. We have noted in our reports that black money and huge cash distribution takes place during elections in India, and that this should be curbed. We have also made suggestions that there should be a limit of around Rs 10-Rs 15 lakh cash which people can keep at home. This may be needed for medical emergencies since some hospitals accept only cash. But this move will eliminate all hoarded cash and I am 100 per cent happy with the move,” he said.
As a result of this “path-breaking” move, Justice Shah said, the government has taken a bold step to clean the election process.
“Evidently, people who have slashed away cash in their homes, offices and lockers with unfair and dishonest means will not go to the bank and either deposit the cash or want the currency changed for smaller denominations. Black money hoarders will not use the window given by the government. So this single step will go a long way and the SIT can only describe it as a welcome bold step,” he said.