Anil Kumar Jain
9 months 21 hours ago
End of the Road for Black Money in India
One of the most persistent challenges to India’s inclusive financial growth is the existence of a parallel economy, commonly known as the black money economy.
For over seven decades, successive governments have tried to eradicate this menace through various schemes — from voluntary disclosure and amnesty programs to demonetization and currency swaps. Yet, despite the best intentions, black money continues to circulate and distort India’s economic system.
In my book “Bharat: The Development Dilemma,” I have explored several structural barriers slowing India’s progress. Among them, the parallel economy fueled by black money remains one of the most damaging. This chapter discusses the origins of black money, its economic impact, governmental responses, and the way forward — focusing on two critical areas that require urgent reform.
mygov_176293054550098.pdf
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