The Fight Against Black Money

On 8th November, the Prime Minister addressed the nation. Most Indians expected the PM to talk about the security threat to India arising out of the consistent Pakistan sponsored attacks on our border. However, nobody would have been ready for what we all were in for. That speech has shaken the whole of the country. Fans of the PM are ecstatic and over the moon. The opposition leaders are confused and demoralised as they cannot officially pat the government on its back and they are damned if they criticize the drive against black money. The demonetisation of Rs. 500 and Rs. 1,000 currency notes so suddenly and virtually overnight has been the talk of the town for the past few days.

Whatsapp messages containing rumors, sermons, false news, criticism, kudos etc have been going around the globe several times over. On 10th November, when banks reopened for the first time after the stupendous announcement made by the PM, it was expected that people would queue up in large numbers to withdrawn new currency / deposit their old currency. By and large, this seems to have happened across the country – but does not seem to have created any major panic or law & order problem.


As the dust settles, we Chartered Accountants of the country need to introspect about our role in the nation building process and whether we need to take action to strengthen the hands of the government in curbing / unearthing black money and corruption.

As chairman of the Taxation Committee of the BCAS, I wholeheartedly welcome the steps taken by the government on various fronts in tackling the black money issue. As a citizen of the country, I am ecstatic that finally, I can face the cynics and the sarcastic people who, all these years, lectured me on my “stupidity” for having paid taxes to the government. I can now tell them “see I told you so”!

As a CA, I consider it my duty to partner with the government in unearthing black money which is the scourge of our economy. As a CA whose advice is sought by and heeded to by citizens of the country, I consider it my duty to give honest, accurate and legitimate advice to my clients. As a CA who moulds the future generations of CAs, I consider it my duty to explain to my students what the efforts of the government are aimed at and how they are good for the moral and economic fabric of our great nation.

The Taxation Committee collectively considers it a responsibility to help Indians in coping with this monumental change that the government has brought about and in taking the right decisions and actions.

We therefore fervently appeal to our members and other stake holders to join hands with us in walking that extra mile to meet the government that has already made efforts to walk half way to meet the needs and aspirations of the aam aadmi.

Over the next few days, we will be bringing out appeals, articles and other material on this subject. It is our earnest request to all of you to share the same with your clients, friends, relatives, business contacts and with any other Indian citizen.

“Mera desh badal raha hai” is what our PM would like us to believe. Let us do our bit to see that the nation does change for the better.

If you feel that you too would like to contribute to this effort, please write to me on


Ameet Patel

Past President & Chairman, Taxation Committee


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July 2024

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