“The minute you read something that you can’t understand, you can almost be sure that it was drawn up by a lawyer.” ― Will Rogers

We have a lawyer as our Finance Minister. And so, or so it seems, the finance ministry and the financial establishment seems to be implementing the above-said statement to the T. How else can one explain 54 (some put it at 59) demonetization rules/changes in 42 days!!!

Lawyers are trained to find loopholes; so, if a lawyer is trying to create a rule or a guideline, they will look for obvious, and potential, loopholes in it and try to cover it up. But in trying to do so, they end up missing the point. That is exactly what has happened with demonetization.

After a guideline is rolled out, you realize that a smarter person has found a loophole in the rule; so, you end up coming up with another rule to cover up the loophole. We now seem to have been caught in an endless cycle of issue a rule, field finding a loophole, and then the establishment re-issues a rule. No doubt, the euphoria of the initial days of demonetization is fast eroding; the lack of planning and understanding of ground reality is showing on the streets.

“If you want to kill an idea without being identified as the assassin, suggest that the legal department take a look at it.” Scott Adams. In this case, we do not need a legal department, we have a lawyer as our finance minister!!!