The filthy rich

In November the Prime Minister dealt what he called a 'surgical strike' and cancelled most of the Indian currency in circulation. It was meant to hurt the rich; those who hoard black (untaxed) money and end the proliferation of counterfeit money and cut off funding for terrorist activities, 'apparently' originating in Pakistan.

Six months later, a senior bureaucrat's home was raided today and 10 kilograms of gold and Rs.100 million in new currency notes were discovered. It's remarkable that the bureaucrat, a high ranking tax official not only had access to this amount of new money, but in such a brief period of time created a massive cash stash when the poor were debilitated by the demonetisation and months later continue to struggle on a daily basis. Even the average, middle income individuals and small scale businesses that were doing relatively well back then are still feeling the after effects of the seismic shocks of November's demonetisation.

The disparity between the standard of living of the rich and poor in India is shocking and shameful but if given the will, can be bridged. The endemic corruption however is seemingly impossible to weed out.

Mr Modi is out of touch with his country and has set back millions of people even further by making what little that they had worthless. The taxman getting caught with his loot is a rare exception. The rich, powerful and the corrupt in India continue their reign mostly unfettered by regulations and out of the reach of the law.