Demonetisation and Black Money
Author | : C. Rammanohar Reddy |
Publisher | : |
Total Pages | : 0 |
Release | : 2019 |
Genre | : Demonetization |
ISBN | : 9789352875801 |
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Author | : C. Rammanohar Reddy |
Publisher | : |
Total Pages | : 0 |
Release | : 2019 |
Genre | : Demonetization |
ISBN | : 9789352875801 |
Author | : R. Ramakumar |
Publisher | : Oxford University Press |
Total Pages | : 484 |
Release | : 2018-02-16 |
Genre | : Business & Economics |
ISBN | : 0199092729 |
The demonetisation of November 2016 will go down in history as one of the most intensely debated economic policy interventions of the Indian state. With the abolition of the legal tender status of Rs 500 and Rs 1,000 notes, about 86 per cent of the currency in circulation stood withdrawn from circulation in the economy. The purpose, according to the government, was to stamp out counterfeit currency, unearth black money, and usher in a less-cash economy. This work analyses in detail the conception and implementation of demonetisation, its impact on different spheres of the economy and sections of the people, and various claims of the government vis-à-vis demonetisation. It tries to locate the two demonetisations of 1978 and 2016 within the broader questions of tax evasion and the generation and storage of black money in India over the last six decades. It has a comprehensive introduction, supported by writings from the archives of the Economic & Political Weekly.
Author | : Arun Kumar |
Publisher | : India Portfolio |
Total Pages | : 344 |
Release | : 2022-05 |
Genre | : Business & Economics |
ISBN | : 9780143456407 |
Demonetization and Black Economy gives a blow-by-blow account of what happened and what were it s effects. This is a powerful book by India's foremost expert on black economy and public finance. The book is a no-holds-barred look into what happens to a nation when its own government devalues its currency. Also find out what were the social, political and economic costs to the nation. This is a hardhitting look at demonetization, and why it could be one of the worst mistakes made by an Indian government with serious social, political and economic consequences. --
Author | : Arun Kumar |
Publisher | : Rupa Publications |
Total Pages | : 170 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 9789386021571 |
The Narendra Modi government's sudden demonetization of `500 and `1,000 notes in November 2016 failed to put a dent in the black economy but caused untold hardship to hundreds of millions of Indians. It has crippled the country's economy for a long time to come. In this book, Arun Kumar, the country's leading authority on the black economy, tells us why Modi's gambit failed. He shows us the way in which the problem can be rooted out, provided the government has the political will and determination to act. Today, the black economy is estimated to be 62 per cent of GDP-or about `93 lakh crore ($1.4 trillion). Corrupt businessmen, corrupt politicians, and corrupt members of the executive (bureaucrats, police and the judiciary) are responsible for controlling the black economy and enabling its growth. If the black economy were to be dismantled and turned into a part of the 'white' economy, the country's rate of growth would be 12 per cent. If it had not grown the way it has since the 1970s, India's per capita income today would be approximately `7 lakh per annum ($11,000) and India would become the second largest economy in the world. If the black economy were taxed at current rates, it would generate `37 lakh crore in additional taxes and the union budget would show a surplus of `31 lakh crore instead of a deficit. The failure of successive governments to tackle the problem effectively has been the single biggest obstacle to eradicating poverty. It is the cause of both widespread policy failure and the inability of the nation to improve its living conditions rapidly.
Author | : Arun Kumar |
Publisher | : Penguin Random House India Private Limited |
Total Pages | : 228 |
Release | : 2017-12-20 |
Genre | : Political Science |
ISBN | : 9387326411 |
On 8 November 2016, the prime minister announced the immediate cancellation of all Rs 500 and Rs 1000 denomination notes, wiping out 86 per cent of the currency in circulation. India's well-functioning economy went into a tailspin. This move, it was claimed, was made to wipe out corruption, deter the generation of black money, weed out fake Indian currency notes and curb terrorism. Overnight, people in India realized that the cash in their pockets had no value. A window of fifty days was granted to 1.3 billion people to convert their old notes into new ones. Businesses, especially in the unorganized sectors, came to a grinding halt. Patients in hospitals faced huge problems, farmers had difficulty buying inputs, weddings were scaled down, and fishermen watched their catch rot. Many lost their jobs and could not support their families. A year later, the RBI announced that 99 per cent of the old currency notes had been deposited with it. India continues to grapple with the effects of this move. The black economy has not been dented; counterfeiting and terrorism continue; the credibility of the RBI, banks and currency is damaged; the accountability of the Parliament and the prime minister has been eroded; and the social divide has widened. There have been many arguments and counter-arguments from both sides, but they have missed the complete picture. Demonetization and the Black Economy, for the first time, lucidly explains the story of demonetization along with its effects on the economy.
Author | : Varun Chandna |
Publisher | : Notion Press |
Total Pages | : 361 |
Release | : 2017-03-17 |
Genre | : Business & Economics |
ISBN | : 1946822302 |
You cannot understand Money Laundering unless you understand ‘How’ this GAME is actually played. Flip in and you will!! Get in to understand ‘How’ the following may be related with Money Laundering Hawala Donations and Trust Mergers and Acquisitions (M&A) Shares and Share Market Hidden Leverage Real Estate Penny Stocks and Circular Trading Futures and Options (F&O) Letters of Credit (L/C) P-Notes Convertible Financial Instruments Imports & Exports Unsecured Loans and Fixed Deposits Bitcoins Special Economic Zones Bearer Shares Shell Companies and Panama Islands Gambling Numbered Accounts Gold and Diamonds Start-ups etc.
Author | : Basant K. Potnuru |
Publisher | : |
Total Pages | : 9 |
Release | : 2017 |
Genre | : |
ISBN | : |
Author | : Arun Kumar |
Publisher | : Penguin Books India |
Total Pages | : 434 |
Release | : 2017 |
Genre | : Business & Economics |
ISBN | : 9780143028673 |
In this book, the author critically examines the standard explanations for the causes and consequences of black income generation. His analysis lays bare the pernicious effects of black income on the macroeconomy and the resultant inefficiency, waste in the economy and society.
Author | : Dr. R. N. Shendage |
Publisher | : Ashok Yakkaldevi |
Total Pages | : 115 |
Release | : 2022-03-21 |
Genre | : Art |
ISBN | : 1678176028 |
We dissect an exceptional episode throughout the entire existence of financial matters, the 2016 Indian "demonetization." This strategy made 86% of money available for use illicit delicate short-term, with new notes continuously presented over the course of the following a while. We present a model of demonetization where specialists hold cash both to fulfill a money ahead of time imperative and for tax avoidance purposes. We test the forecasts of the model in the cross-part of Indian regions utilizing a few novel informational collections including: the geographic dispersion of demonetized and new notes for causal surmising; nightlight action and work overviews to gauge monetary movement remembering for the casual area; charge/Visas and e-wallet exchanges information; and banking information on store and credit development. Locale encountering more serious demonetization had relative decreases in monetary action, quicker reception of elective installment advancements, and lower bank credit development. The cross-sectional reactions cumulate to a compression in total business and nightlights-based result because of the money deficiency of at minimum and of bank credit of in comparative with their counterfactual ways, impacts which disperse throughout the following not many months. Our investigation rejects cash non-impartiality utilizing an enormous scope regular examination, something yet uncommon in the huge writing on the impacts of financial approach.
Author | : Jayati Ghosh |
Publisher | : Taylor & Francis |
Total Pages | : 120 |
Release | : 2017-03-16 |
Genre | : Business & Economics |
ISBN | : 1351664018 |
On the night of 8 November 2016, at 8:15 pm, India’s Prime Minister, Narendra Modi, announced in a televised broadcast to the nation that with effect from midnight, currency notes of denominations Rs 500 and Rs 1,000 would no longer be legal tender. In one stroke, this involved the de-recognition of over 86 per cent of the value of Indian currency in circulation with only four hours’ notice. This important book provides a quick and concise explanation of the goals, implications, initial effects and the political economy of this major demonetisation move by the Government of India. It clarifies key concepts and offers astute economic analysis to guide the reader through the various claims, arguments and critiques that have been made; highlights the complexities of the processes that have been unleashed; and examines the likely outcomes in the long term as well as those that are immediately evident. Timely and lucid, this book will interest students and researchers in the fields of economics, finance, management, law, politics and governance as well as policy makers, legislators, civil society activists and the media.