Understanding the Black Economy and Black Money in India: by Arun Kumar [Hardcover]

In The Black Economy in India, Arun Kumar critiques the Modi government's 2016 demonetization initiative, arguing it did not significantly impact the black economy while causing substantial hardship for millions. He reveals that the black economy comprises an estimated 62% of GDP, facilitated by corrupt practices among businessmen, politicians, and bureaucrats. Kumar suggests that dismantling the black economy could elevate India's growth rate and drastically improve per capita income. He emphasizes that the failure of successive governments to address this issue has perpetuated poverty and hindered rapid improvements in living conditions, urging the need for genuine political will to tackle this pervasive problem.