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Demonetization And The Black Economy
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Book Synopsis Demonetization and the Black Economy by : Arun Kumar
Download or read book Demonetization and the Black Economy written by Arun Kumar and published by India Portfolio. This book was released on 2022-05 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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. --
Book Synopsis The Black Economy in India by : Arun Kumar
Download or read book The Black Economy in India written by Arun Kumar and published by Penguin Books India. This book was released on 2017 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Understanding the Black Economy and Black Money in India by : Arun Kumar
Download or read book Understanding the Black Economy and Black Money in India written by Arun Kumar and published by Rupa Publications. This book was released on 2017 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Note-Bandi written by R. Ramakumar and published by Oxford University Press. This book was released on 2018-02-16 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Demonetisation and Black Money by : C. Rammanohar Reddy
Download or read book Demonetisation and Black Money written by C. Rammanohar Reddy and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Understanding Demonetization in India by : Shrawan Kumar Singh
Download or read book Understanding Demonetization in India written by Shrawan Kumar Singh and published by Business Expert Press. This book was released on 2019-04-04 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the very concept, history, critique, and impact on the overall economy and black money, the move toward less-cash economy and digitalization, government–RBI relations, along with an assessment of two years of demonetization. Demonetization has created a severe macroeconomic shock. The measure was humungous in scale and led to a sharp contraction in money supply for a short period. Although demonetization’s proponents have contended that it would cleanse the economy of black money and make transactions more formal and digital, its implementation certainly could have been better. The effects of demonetization on the Indian economy are debatable and will vary by sector. Its effectiveness will be talked about and studied by economists and policy makers for decades to come. Demonetization has made only a minor dent in the GDP. It has helped to bring more people into the tax net and has reduced the size of the informal economy. With the increased use of digital payments, economic transactions become recorded. This book examines the very concept, history, critique, and impact on the overall economy and black money, the move toward less-cash economy and digitalization, government–RBI relations, along with an assessment of two years of demonetization. It would be prudent for the government to focus more on proper institutional reforms to address the issues originating from demonetization.
Book Synopsis Real Impact of Demonetization on Various Sectors of Indian Economy and Society? by : Ajit Kumar Roy
Download or read book Real Impact of Demonetization on Various Sectors of Indian Economy and Society? written by Ajit Kumar Roy and published by Createspace Independent Publishing Platform. This book was released on 2017-06-05 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: In November 2016 after the demonetisation decision was taken to curb black money and root out corruption, allegations were made that the move will harm the economy. But the financial figures of the last quarter give the answer. I. Post demonetisation, cash withdrawals have been declining rapidly from a peak of Rs 528 billion for the week ended 13th January to Rs 325 billion recently (week ended 24th March). II. Industrial output growth has risen to a 13-month high of 5.7% in November while retail inflation slowed to a 25-month low in December. III. India's foreign exchange reserves surged for the second consecutive week by $932.4 million to $360.775 billion in the week to January 20,2017 IV. The rupee hit a 16-month peak against the dollar to INR 65.41 per dollar V. The number of persons under the income tax net has increased by 91 lakh post note ban. VI. The CBDT has detected undisclosed income of over Rs 9,334 crores between November 9, 2016, and February 28, 2017. VII. Under Operation Clean Money (OCM), more than 60,000 persons, including 1,300 high-risk persons, have been identified. VIII. Income tax department will issue 700,000 letters seeking information about high-value transactions. IX. Indian economy grew by 7% in the fourth quarter of 2016 and 6.1% in 1st quarter of 2017. X. The real estate sector hit in the fourth quarter, but a strong contribution of the agricultural sector and manufacturing. XI. The purchasing managers' index (PMI) shows a large rebound. XII. Shell companies provided a strong support system for black money after demonetization are in the process of identification and tax net. XIII. The income tax (I-T) department has begun its second phase of "Operation Black Money". XIV. More than 30 government-to-business services have been brought online, with e-filing, single-windows. XV. Foreign direct investment (FDI) into India increased by 9 per cent to a record level of $43.48 billion in 2016-17 The book entitled 'Real Impact of Demonetization on Various Sectors of Indian Economy and Society' covers nine key topics that are essential to assess the impact of demonetizationand its short, medium and long time economic, social and political impact in India. Ch-1: Demonetisation and Remonetisation; Ch-2: Demonetization and Indian Budget 2017; Ch-3: GDP Projection's Ch-4: Impact on Tax Collation; Ch-5: Impact on Cashless Economy; Ch-6: Impact of Demonetisation on Agriculture; Ch-7: Impact on Economy; Ch-8: Political Impact and Ch-9: Impact on Society.
Download or read book The Big Reverse written by Meera Sanyal and published by Harper Collins. This book was released on 2018-11-10 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: 8 November 2016 was a black swan event in Indian history. At one stroke, 86 per cent of the currency in circulation was demonetized, causing confusion, chaos and endless misery to the common Indian. While the Modi government claimed that it was the silver bullet that India needed to eliminate many of its longstanding problems such as black money, corruption, tax evasion and terror funding, the months that followed proved it otherwise. The return of 99.7 per cent of the banned 500 rupee and 1,000-rupee notes showed that the RBI's idea of Demonetization Dividend was nothing but a mirage. In the process, livelihoods of millions in the informal sector were destroyed, causing enormous distress to farmers and, traders and forcing many micro, small and medium businesses into bankruptcy. One of India's most respected bankers, Meera H. Sanyal provides the most comprehensive analysis of the policy, its execution and pitfalls. The Big Reverse presents unprecedented insights backed by data, history and research. And as a result, answers the questions that still continue to haunt Indians, on the what, why and how of demonetization.
Author :Arun Srivastava (University teacher of international economics) Publisher : ISBN 13 :9789385330384 Total Pages :282 pages Book Rating :4.3/5 (33 download)
Book Synopsis Indian Economy by : Arun Srivastava (University teacher of international economics)
Download or read book Indian Economy written by Arun Srivastava (University teacher of international economics) and published by . This book was released on 2018 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Security: Neglected Dimension of National Security ? by : National Defense University (U S )
Download or read book Economic Security: Neglected Dimension of National Security ? written by National Defense University (U S ) and published by Government Printing Office. This book was released on 2011-12-27 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: On August 24-25, 2010, the National Defense University held a conference titled “Economic Security: Neglected Dimension of National Security?” to explore the economic element of national power. This special collection of selected papers from the conference represents the view of several keynote speakers and participants in six panel discussions. It explores the complexity surrounding this subject and examines the major elements that, interacting as a system, define the economic component of national security.
Download or read book When Crime Pays written by Milan Vaishnav and published by Yale University Press. This book was released on 2017-01-01 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first thorough study of the co-existence of crime and democratic processes in Indian politics In India, the world's largest democracy, the symbiotic relationship between crime and politics raises complex questions. For instance, how can free and fair democratic processes exist alongside rampant criminality? Why do political parties recruit candidates with reputations for wrongdoing? Why are one-third of state and national legislators elected--and often re-elected--in spite of criminal charges pending against them? In this eye-opening study, political scientist Milan Vaishnav mines a rich array of sources, including fieldwork on political campaigns and interviews with candidates, party workers, and voters, large surveys, and an original database on politicians' backgrounds to offer the first comprehensive study of an issue that has implications for the study of democracy both within and beyond India's borders.
Book Synopsis Demonetisation Decoded by : Jayati Ghosh
Download or read book Demonetisation Decoded written by Jayati Ghosh and published by Taylor & Francis. This book was released on 2017-03-16 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Demonetization written by Pankaj Sharma and published by Bloomsbury Publishing. This book was released on 2019-02-04 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 8 November 2016, at 8:00 PM IST, Prime Minister Narendra Modi announced that four hours from his declaration, all 500 and 1000 rupees notes would be devalued. At the stroke of the midnight hour, India awoke to an unexpected tryst with demonetization. An incisive and insightful take on the issue, Pankaj Sharma and Saurav Sanyal's book gives agency to the ordinary Indian voters, the 'torchbearers of democracy'. Going beyond the idea of the citizen as a mere recipient of the government's edicts or munificence, the authors focus on the power of the common man as a voter and the repercussions of demonetization on the upcoming 2019 general elections in India. In 2019, will demonetization be seen as the waterloo of Modi, or will he emerge stronger and even more powerful? In dissecting the political implications of demonetization, the authors espouse a varied yet nuanced approach. From discussing the role of human psychology in making political choices to a search for an on-the-ground sentiment in determining the factors of influence, Sharma and Sanyal leave no stone unturned in analysing demonetization as THE political issue for the future of Indian democracy.
Book Synopsis Indian Economy's Greatest Crisis by : Arun Kumar
Download or read book Indian Economy's Greatest Crisis written by Arun Kumar and published by Portfolio. This book was released on 2021-05 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Desperate times call for desperate measures.' The outbreak of COVID-19 aptly justifies this expression as the world faces an unprecedented situation. But what is so unusual about the coronavirus, especially since viral attacks-H1N1, Ebola and Nipah-have taken place earlier as well? How has it affected India and the world? What are the socio-economic implications for India? How has India's response been to the coronavirus? What is more important-life or livelihood? How can India recover from the sudden economic shock caused by the pandemic? This book is an attempt to answer these and many more such questions. The coronavirus hit the world in December 2019 like a hurricane. What started as a medical emergency soon turned into an economic one. No global financial crisis has ever hit humanity as hard as COVID-19. The world, therefore, was caught ill prepared when the pandemic struck. The situation, to say the least, is worse than a war. The situation in India is no different: In terms of the number of cases reported, it is second only to the United States. This book highlights the enormity of the impact of the coronavirus pandemic on India. It critically examines the government's efforts to control the disease and mitigate its adverse effects on Indian economy and society. Making a compelling argument that an economy is not like a rubber ball, which, if dropped on a hard surface, will bounce back to its original position, the author provides incisive reasons to why economic recovery will be slow and not 'V-shaped'. He, however, cogently suggests that good governance, a robust public-health system, and clean and representative politics are key to bringing India's economy back on track.
Book Synopsis Who Painted My Money White? by : Sree Iyer
Download or read book Who Painted My Money White? written by Sree Iyer and published by . This book was released on 2019-12-26 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: A ship carrying 2 containers worth Rs.5000 crores in 500- and 1000-rupee notes, docks in the dark of night at Kochi. The money is quickly distributed to members of a minority community using a network of 100 Chartered accountants. The bulk of the money finds its way back into fake firms, shell corporations and charities with the sole aim of destabilizing the country.A DIABOLICAL PLAN BY THE FREEDOM PARTY TO WEAKEN INDIAGreedy politicians of the Freedom Party want to ensure that the opposition can never come to power. Pander to the largest minority, enrich them beyond their expectations and ensure they will be with the party. To this end, a plan is hatched to print high denomination money and try and increase the velocity of money, thereby creating the illusion of growth. A compromised Finance Minister is forced to buy paper from the same sources as India's rival Pakistan. Their intelligence wing gets hold of the security threads being used in Indian notes through honey trapping and comes up with notes that are almost as good as the real ones.The fake money brought in slowly starts moving around the country, driving up inflation and real estate prices, mixing with good notes. Because of a series of scams, the government gets voted out and a single party (People's Voice) gets absolute majority. The new party responds to a terrorist attack with a surgical strike deep in the enemy territory.Pakistan decides to retaliate by flooding India with fake currency, by tripling its fake currency production. India responds by demonetizing the 500- and 1000-rupee notes and printing new notes of a different size. But despite the best attempts, a porous border with Nepal and Bangladesh results in a significant amount of the fake currency entering Indian banks. When the notes were tallied, instead of 87% of printed notes coming back to the Reserve Bank, 113% comes!The counterfeit money is used to spawn different types of nefarious activities including a plot to assassinate the newly elected Prime Minister. Will the Intelligence Bureau track the assassin and protect the PM?
Book Synopsis Landscapes of Accumulation by : Llerena Guiu Searle
Download or read book Landscapes of Accumulation written by Llerena Guiu Searle and published by University of Chicago Press. This book was released on 2016-09-21 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past few decades, India has experienced a sudden and spectacular urban transformation. Gleaming business complexes encroach on fields and villages. Giant condominium communities offer gated security, indoor gyms, and pristine pools. Spacious, air-conditioned malls have sprung up alongside open-air markets. In Landscapes of Accumulation, Llerena Guiu Searle examines India’s booming developments and offers a nuanced ethnographic treatment of late capitalism. India’s land, she shows, is rapidly transforming from a site of agricultural and industrial production to an international financial resource. Drawing on intensive fieldwork with investors, developers, real estate agents, and others, Searle documents the new private sector partnerships and practices that are transforming India’s built environment, as well as widely shared stories of growth and development that themselves create self-fulfilling prophecies of success. As a result, India’s cities are becoming ever more inaccessible to the country’s poor. Landscapes of Accumulation will be a welcome contribution to the international study of neoliberalism, finance, and urban development and will be of particular interest to those studying rapid—and perhaps unsustainable—development across the Global South.
Book Synopsis The Black Box Society by : Frank Pasquale
Download or read book The Black Box Society written by Frank Pasquale and published by Harvard University Press. This book was released on 2015-01-05 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every day, corporations are connecting the dots about our personal behavior—silently scrutinizing clues left behind by our work habits and Internet use. The data compiled and portraits created are incredibly detailed, to the point of being invasive. But who connects the dots about what firms are doing with this information? The Black Box Society argues that we all need to be able to do so—and to set limits on how big data affects our lives. Hidden algorithms can make (or ruin) reputations, decide the destiny of entrepreneurs, or even devastate an entire economy. Shrouded in secrecy and complexity, decisions at major Silicon Valley and Wall Street firms were long assumed to be neutral and technical. But leaks, whistleblowers, and legal disputes have shed new light on automated judgment. Self-serving and reckless behavior is surprisingly common, and easy to hide in code protected by legal and real secrecy. Even after billions of dollars of fines have been levied, underfunded regulators may have only scratched the surface of this troubling behavior. Frank Pasquale exposes how powerful interests abuse secrecy for profit and explains ways to rein them in. Demanding transparency is only the first step. An intelligible society would assure that key decisions of its most important firms are fair, nondiscriminatory, and open to criticism. Silicon Valley and Wall Street need to accept as much accountability as they impose on others.
