Black Money: Whither The Indian Economy?

Journal Name: 
Journal of Accounting and Finance
Volume: 
Vol. 29 - No. 1
Authors: 
Author Name Designation Organization
R.Sreenivasa Rao
G.V.S.Ravindra Babu
Abstract: 

The objective of this paper is to identify the possible causes of Black Money and its impact on Indian  economy. It also explains the consequences of black money and government initiations to curb it. Black money is a term used in general meaning to refer to money that is not legitimate in the hands of owner. In spite of many initiations taken by UPA government and NDA government to curb black money, there is a raise in the figures of black money year by year. Still no government has estimated exact figures; however, the present government has taken a strong stand to bring back the black money within a year. An attempt is made in this paper to contribute to the burning problem and ongoing debate on the issue of black money and help to take right decisions for future course of action by public authorities.