Is Demonetization Intention Not Black Money?

We are nearing the finish line set for the Demonetization. It is just 10 days away before we can deposit those banned 500 and 1000 Notes to Banks. While making that historical announcement on November 8th, Prime Minister Narendra Modi said it is intended to combat black money, fake currency, and Terror Funding.

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But then after 40 days of Demonetization, it appears that Demonetization‘s aim is not curbing Black Money as the government had left enough loopholes to convert the Black Money to White. The actual intention of the government is to expand the tax base by pushing people cashless overnight.

Financial experts suspect that addressing black money is just a cover and not the actual agenda. If this becomes true, after December 30th, Modi government will face the brunt of the people for all the hardships they underwent.