New Delhi: Demonetisation may wipe out the present stock of black money held in cash from the economy but cannot eliminate the ill-gotten wealth converted into assets such as gold and real estate, Assocham said on Tuesday.
However, the industry body has suggested measures like lowering stamp duty on property transactions to tackle the menace.
"Invalidating existing high-denomination notes addresses the stock of black money but does little to address future flows. Eliminating such flows will require further reforms like lowering stamp duty on property transactions, electronic registration of real estate etc," the Assocham study said.
