That's a catch-22, and most often just an excuse used by people to self-justify. > lost by PSUs loaning to the Mallyas of the world That's at least loads bett

That's a catch-22, and most often just an excuse used by people to self-justify. > lost by PSUs loaning to the Mallyas of the world That's at least loads better than the money never reaching the government as tax and thus never becoming a matter of public record. Such publicly recorded "corrupt bullshit" are significantly easier to fight than the silent menace of black money. > Governments (esp Indian) have been historically self serving and power hungry. Projecting past governments' performance onto the current one and keeping your money hoarded, means that this govt doesn't have enough money to do significant good, which in turn helps such people justify to themselves that "the government doesn't do anything with it anyway". Thus the catch-22. While the Modi government is nowhere near some "Ram Rajya" (said phrase being part of the problem), it's at least taking several steps in the right direction, and placing a little trust in it to spend the tax money reasonably well seems like a gamble with pretty good odds at this point.