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DetailsIn 1990-91, according to various estimates, the black economy constituted about 35 per cent of the national economy, which was larger than either its primary or secondary sectors. Since then black income generation has increased not only through both legal (real estate transactions, the share market) and illegal (hawala, financial scams, gold smuggling) activities but also via instances of corruption. The New Economic Policies expected to counter its growth have been unsuccessful in containing it. In this empirically rich and finely argued book, Arun Kumar critically examines the standard explanations for the causes and consequences of black income generation and the methods suggested for curbing it. His incisive analysis lays bare the pernicious effects of black income on the macroeconomy and the resultant inefficiency, waste and sub-optimality in the economy and society. It also spotlights the role of criminalization and the emerging nexus of the businessman, politician and bureaucrat in perpetuating the black economy. Showing the limited success of technical remedies like the VDIS, Arun Kumar argues in favour of structural remedial measures, which include empowering people through a right-to-information act. This revised edition has a foreword by ex-Prime Minister V.P. Singh and new appendices on employment and income in illegal activities in India and money laundering. About the Author "Arun Kumar taught economics at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, Delhi, till 2015. He has a master's degree in physics from Delhi University and Princeton University, USA, and a doctorate in economics from JNU. His areas of special interest are public finance and public policy, and macroeconomics and economic development. He has coordinated the work of producing Alternative Budgets for 1993-94 and 1994-95 and demonstrated that alternative policies are feasible based on the nation's own resources. Earlier he was at the National Institute of Public Finance and Policy and worked on the report titled Aspects of the Black Economy in India. He has been interviewed and quoted widely in newspapers and magazines on the subject of demonetization, and has written extensively on the black economy over thirty-five years."
SKU Code IBD B 219 Weight in Kg 0.3230 Brand Bookwomb Dispatch Period in Days 3 ISBN No. 9780143028673 Author Name Arun Kumar Publisher Name PENGUIN INDIA