Of course, the fact that the money got parked in bank accounts and did not have a natural outlet means that we can track down much of it. But that’s a long-drawn process. The bottom line: we didn’t arrest illicit, the dividend from RBI fell sharply, and growth slowed down by 2% as indicated by Dr Singh. But because of the divided nature of our polity, the debate has never been healthy and has stooped to name-calling. From a different perspective, it has increased the tax base, made people be more careful about taxes and lead to a spurt in digital transactions. At a personal level, Prime Minister Modi has been able to demonstrate his commitment to fighting black money, leading to electoral victories.