No prime minister in the past has hit black money with the ferocity displayed by Narendra Modi. His demonetization move, despite making life difficult for people at the lower level of society, has won their support as well. Now, in the budget he has hit out again. The reduction in the sum an anonymous donor can pledge to a political party from Rs 20,000 to Rs 2,000 will hit all, fair and square on the chin. This was a bone of contention and the demand to reduce the limit or make all donations accountable had grown after Modi had indicated his intention to take on the black money sector. The move might not end the flow, but it will make it more difficult. A complete ban in anonymous donations would have been better. Secondly, by lowering cash transaction to Rs 3 lakh, the prime minister has made it more difficult for black money to pour into real estate, automobile industry and jewellery sector. The Prime Minister had promised to follow up on demonetization and the Budget presented by Finance Minister Arun Jaitley has shown that Modi is a man with a mission to exorcise the financial sector of the black money ghost. This is a work in progress, but Modi has signaled that he will see it through.
