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Author: Arun Kumar
Publisher: India Portfolio
ISBN: 9780143456407
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
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: India Portfolio
ISBN: 9780143456407
Category : Business & Economics
Languages : en
Pages : 344
Get Book Here
Book Description
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: Penguin Books India
ISBN: 9780143028673
Category : Business & Economics
Languages : en
Pages : 434
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Book Description
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: Arun Kumar
Publisher: Rupa Publications
ISBN: 9789386021571
Category : Business & Economics
Languages : en
Pages : 170
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Book Description
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: C. Rammanohar Reddy
Publisher:
ISBN: 9789352875801
Category : Demonetization
Languages : en
Pages : 0
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Book Description
Author: R. Ramakumar
Publisher: Oxford University Press
ISBN: 0199092729
Category : Business & Economics
Languages : en
Pages : 484
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Book Description
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: Pankaj Sharma
Publisher: Bloomsbury Publishing
ISBN: 9388038010
Category : Political Science
Languages : en
Pages : 158
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Book Description
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.
Author: Ajit Kumar Roy
Publisher: Createspace Independent Publishing Platform
ISBN: 9781547103003
Category :
Languages : en
Pages : 768
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Book Description
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.
Author: Meera Sanyal
Publisher: Harper Collins
ISBN: 9353023955
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
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: Jayati Ghosh
Publisher: Taylor & Francis
ISBN: 1351664018
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
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.
Author: Arun Kumar
Publisher: Portfolio
ISBN: 9780670094554
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
'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.
