Avoid populism

The clamour for a crackdown on unaccounted wealth, in response to repeated claims - whose veracity cannot be determined - of huge amounts held abroad by Indian citizens, has taken an unexpected twist. Not only has the report on black money brought out by the finance ministry proved unable to put a more precise number on the extent of such wealth, it even attempts to roll back many of the gains made over the last two decades in disincentivising black money. 

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