Explain the consequences of black money in the indian economy
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• The circulation of black money has a deep impact on the economy resulting in a decrease in government revenues. A part of the black money which circulates in the economy could have gone into the hands of the government in the form of taxes. Such is the volume of the black money in the country that a parallel economy is said to be running in the country with the black money alone. According to some estimates the amount of black money in the country equals 40 per cent of our gross domestic product. (GDP) .
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• The circulation of black money has a deep impact on the economy resulting in a decrease in government revenues. A part of the black money which circulates in the economy could have gone into the hands of the government in the form of taxes. Such is the volume of the black money in the country that a parallel economy is said to be running in the country with the black money alone. According to some estimates the amount of black money in the country equals 40 per cent of our gross domestic product. (GDP) .
hope this will help you..!!!
happy new year....!!!
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