Question

measures taken by government to crop the growth of black economy in India give illustration​

Answer 1

Answer:

A bank employee fills a form after counting stacks of old 1000 Indian rupee banknotes inside a bank in Jammu (Photo: Reuters)

November 8, 2016 will be a memorable day for Indians in years to come. On this day, Prime Minister Narendra Modi eliminated more than 85% of Indian currency notes in circulation, wreaking havoc in common people’s lives. While the effects of this policy may take some time to unfold, will they include reduction in the size of black economy and corruption? To explore the answer to this question, it might be a good idea to look at what are the determinants of black economy and corruption.