As per the information received from Reserve Bank sources around 9% of the banned/ demonetized notes are not deposited in the banks till December 28 it means that money of tune of 1 lakh 45 thousands crore rupees will now be out of circulation, if not deposited within next 40 hours. In addition to that a sum of Rs. 3600 Crores has been confiscated along with more than 60 kilos of gold, silver and jewellery. If we take the value of the high priced assets with a conservative approach, even than if we will add the three amounts i.e. value of ousted cash, value of cash confiscated and the value of assets seized; we will found that a total of more than Rs. 1 lakh 45 thousand crores are eliminated out of our econnomy.

Moreover since, the government agencies, like ED, IT Deptt, CBI, ACB, etc. are now very  busy in thorougly checking all the bank accounts with suspicious activities during last 2 months; it is sure that they will now take actions more rapidly against black money and corruption. The outcome of those actions is likely to seize and eliminate even twice of the amount eliminated till now. It means that black money amounting to around Rs. Four Lakh crores is likely to be eliminated by this massive move of demonetization.

It is not as much as expected by the governmat only from this move; even than it is quite a significant amount and enough to justify the move, in an independent view. While, media in general is undermining it and mentioning 9% as an meagre amount; they are actually causing misconception in general public by not mentioning the actual amount in numbers, which is equivalent to this 9%. In fact the total amount of black money elimination till now, only by this move is Rs. 1,45,000 crores; which is good enough as it can give boost to many good welfare or pro-poor schemes of government.  

*Hariprakash 'Visant'