A CONCEPTUAL STUDY ON BLACK MONEY AND DEMONETIZATION POLICY

A CONCEPTUAL STUDY ON BLACK MONEY AND DEMONETIZATION POLICY
Author(s):
RASHMI H., WERDA EKHLAS
Keywords:
Demonetization, Black money, Government, Business, Tax evasion
Abstract
One of the most prevalent and recognized fact which exists in India is the subsisting shadow or parallel economy drawing its breath on black money transactions. The primary idea that drives this tainted economy is tax evasion discoloring our moral roots. In an attempt to cut these evil tendrils growing all over our society, the Government poisoned all hoarders of this unaccounted income with demonetization; paralyzing the entire economy. While Indian businesses constantly look for ingenious loop holes to escape this paralyzing situation, the Government continues to execute these infected minds dodging taxes. Undeclared wealth has become synonymous to an acceptable practice making it difficult to gauge the quantum of its existence in our society and having no qualms on our conscience. Hence in this study there is an attempt to highlight methods to curb black money and their hoarders as well measuring the effectiveness of demonetization to bring black money back in to main stream Economy.
Article Details
Unique Paper ID: 153245 Publication Volume & Issue: Volume 8, Issue 6 Page(s): 219 - 222
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