This step was historically unprecedented in terms of its scale and impact. This critical decision was taken with the purpose of fighting black money, corruption, counterfeit currency and terrorism, with the fond hope that it will ultimately clean up the entire system. It caught the people unawares. From serpentine queues at ATMs to prime time channels and at parliament, demonetization became the most fiercely debated topic. Professor Kumar is an authority on black economy and has done extensive research and writing on it. With his years of experience in academics, he analyses various aspects of black economy relevant to demonetization. He deftly deals with issues related to nomenclature, misconceptions regarding the relationship between black money and black economy, and corruption and black economy.
Arun Kumar is Malcolm Adiseshiah Chair Professor at the Institute of Social Sciences, and author of Demonetization and the Black Economy, Penguin (India).
File Name: black economy in india arun kumar pdf.zip
Published 29.07.2019
Book Review: Arun Kumar's Demonetisation and the Black Economy
The objectives of the government were laudable, but it seems as though the scheme was imposed on the country with little or no forethought.
Excerpts: Understanding the Black Economy and Black Money in India by Arun Kumar
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Well, almost everybody agrees that it has imposed short-term costs on the nation. But when it comes to understanding its longer term effects, the reaction of experts is wide-ranging: from being at loss of words to talking in unclear terms, from being uncertain about its effects to taking contradictory position and so forth. The common man is utterly confused. The book is all about making the common man, even an expert, gain a perspective on the issue of black economy in India as well as on the recent demonetisation exercise. While being fully supportive of the reason behind the recent demonetisation exercise, Arun Kumar takes a grim view of its effects in tackling corruption and black economy.
In Understanding the Black Economy and Black Money in India, Arun Kumar takes us on a journey from the origins of the black economy in India to what should come after demonetisation. Credit: Reuters. Black money is currently one of the most discussed political and economic issues in India. During the tenure of the last government, the issue of corruption galvanised a popular civil movement. In November , when Prime Minister Narendra Modi announced the demonetisation of high currency notes, he said he had taken the step primarily to fight black money.
![Kumar Kumar](/uploads/1/2/5/8/125863924/217589045.png)
See a Problem?
A ground-breaking book, The Black Economy in India in India shows how demonetization is not the way to end the black economy, since what India needs is to empower citizens and make leaders accountable. The black economy is once again in the news because of the announcement of demonetization of the large-denomination currency notes. It is not that this is the first step that the present government has taken to tackle the black economy. It started its journey by forming a special investigation team SIT under a Supreme Court order in But none of them had the same dramatic impact on the economy since they were not comparable in order of magnitude that demonetization is.
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