Black Money in India: Impact on Indian Economy

Author: Nazaquat Husain

Abstract:
Black money circulating in the underground economy in India is a big menace for the Indian economy. This paper presents the different aspect of black money, causes of generating black money and also discussing its impact on various organs of Indian economy. In the age of globalization black money is not only problem of Indian economy but it also transcends the borders and has become a global problem. There is no doubt that the existence of black money has a significant impact on social, economic and political levels of our lives which has significant effect on the institutions of governance and conduct of public policy in the country. To control the generation of black money there should be a strong and legislature framework, implementation of concerned laws with strong will power. Government try maximum efforts to bring back black money stashed abroad.

Keywords:Black Money, Corruption, Indian Economy, Underground Economy

DOI:

International Journal of Trade & Commerce (Vol: 5 Issue:1)