The Menace of Black Money in India

  • Dr Pradip Kumar Das Jagannath Kishore College,Purulia under Sidho-Kanho-Birsha University,Purulia
Keywords: Black money, Tax evasion, The Government, Unaccounted wealth, Corruption, Financial scandals.

Abstract

                                                                           ABSTRACT

 

Of late, the issue of black money and  its consequent  corruption has come into the forefront following a series of financial scandals. Black money draws conspicuous and wasteful consumption, reduces savings and grows gap between the rich and the poor. In every sphere of social, political and economic space of the country, it has a debilitating effect on the institutions of governance and conduct of public policy in India. Governance failure adversely affects the interests of vulnerable and disadvantageous sections of the society. Everybody has expressed concern on the issue especially with the publication of few reports relating to unaccounted wealth abroad. The Government of India has been pursuing to address the issue of black money in public life after noisy turmoil in Parliament. This paper is an attempt to explain the menace of black money  and its aftermath consequences in India.

Keywords: - Black money, Tax evasion,  The Government, Unaccounted wealth, Corruption, Financial scandals.

Author Biography

Dr Pradip Kumar Das, Jagannath Kishore College,Purulia under Sidho-Kanho-Birsha University,Purulia

Associate professor&Teacher-in-Charge,Commerce Unit,
J.K.College,Purulia

References

The Government of India, Ministry of Finance. White Paper of Black Money, May, 2012. Para 2.8.5.

Singh,Vijay Kumar, Controlling Money Laundering in India-Problems & Prospectives, January, 2009. 11th Annual Conference on Money and Finance in the Indian Economy, The Indira Gandhi Institute of Development Research.

Sukanta Sarkar, The Parallel Economy in India: Causes, Impacts & Government Initiatives, 2010.11-12 ( 1-2) : p.124-134.

CA Agarwal, Lalit Mohan, White Paper on Black Money,Journal of Securities Academy& Faculty for

E-Education, 2012.72.

Ghuge, Nishant Ravindra &Dr.Katdare, Vivek Vasantra A Comparative Study of Tax Structure of India with respect to Other Countries, 2016. International Conference on Global Trends in Engineering, Technology and Management (ICGTETM).

Tax Research Team, Demonetization: Impact on the Economy, New Delhi, National Institute of Public Finance and Policy, 14 November, 2016.

Dr. Devarajappa & S. Devarajappa, Tax Evasion in India: A Study of its Impact on the Revenue of the Government, EPRA International Journal of Economics and Business Review, 2017. 5(9).

The Government of India, Ministry of Finance, White Paper of Black Money, May, 2012. Para 2.4.9.

The Government of India, Ministry of Finance, White Paper of Black Money, May, 2012.

_________________________________________________________________________

Published
2019-06-18