The government decision to discontinue the opportunity given to whiten black money is a move in the right direction. Obviously, whitening of black money through investment in any form is not morally justifiable, a point the minister himself raised while commenting on the decision. However, we believe there are many other factors that weigh in favour of taking a clear stand on the issue. When black money holders find an easy way out, genuine taxpayers and honest businessmen can only feel discouraged. If black money earned through tax evasion or resorting to some other illegal means is allowed to become legal, it will only help swell the ranks of tax evaders. It sets a bad example, to say the least.

So it is an ethically, morally and economically erroneous concept to allow people to whiten their black money. But stopping the whitening process is not enough to set things right. The truth of the matter is that unless the routes of amassing wealth through illegal activities are sealed, black money will continue to accumulate. It is no secret that kickbacks and commissions from million dollar deals, and corrupt practices like money laundering, under-invoicing, over-invoicing etc are responsible for the growth of black money. So it is imperative that such practices are eliminated. The government should not dismiss the allegation that there is corruption within the ruling party and those earning money illegally often get shelter in it. Political clout gives these elements some kind of invincibility. The government has to refute these allegations through taking some tangible steps. Finally, the Anti-corruption Commission must be activated to counter the growth of black money.