Black Economy In India The

An exclusive and accessible study of how the black economy works in India with a detailed prologue on demonetization India's white economy is inextricably linked with its black economy. Where in 1991 the black economy constituted about 35 per cent of the national economy it had increased to 62 per cent by 2013. Both legal (industry services real estate the share market) and illegal (havala smuggling narcotics) activities as well as instances of corruption contributed to this situation. But the cash or 'black money? circulating in the country is merely around 3 per cent of the total domestic black economy. In this scenario how effective is the Central government's move to demonetize 500 and 1000 rupee notes in November 2016? In the only such book on the subject written especially for the general reader Arun Kumar critically examines the causes and consequences of black income generation and the possible methods for curbing it. Backed by empirical data his incisive analysis lays bare the pernicious effects of black income on the macro economy and the resultant inefficiency in society. It also focuses on the nexus of businessmen politicians and the executive in perpetuating the black economy. A groundbreaking book The Black Economy in India shows how demonetization is not the way to end the black economy since what India needs is to empower citizens and make leaders accountable. ?A great read? Business Standard ?Superbly argued and written in a language devoid of jargon ... this book is meant for any concerned intelligent reader? Telegraph