Demonetization and Black Economy

Demonetization and Black Economy

To break the grip of corruption and black money, we have decided that 500 rupee and 1,000 rupee currency notes presently in use will no longer be legal from midnight tonight, that is 8th November 2016' - Narendra Modi The prime minister of the country said this in a speech addressed to the nation. In one stroke, he wiped out the 86 per cent of the currency in circulation. His argument? It will help the nation fight corruption, black money, fake notes and terrorism. One year has passed since then. What actually happened since then? Did we make a dent in black money, fake notes, corruption and terrorism? Was the RBI on board with this decision? Did the PM have the powers to politically and legally take this decision himself? How did it effect the Indian economy? Did we suffer only for a few months or will we face the consequences for the next ten years? How will the life of an ordinary Indian change because of this? Demonetization and Black Economy gives a blow-by-blow account of what happened and what were it's effects. This is a powerful book by India's foremost expert on black economy and public finance. The book is a no-holds-barred look into what happens to a nation when its own government devalues it's currency. Also find out what were the social, political and economic costs to the nation. This is a hard-hitting look at demonetization, and why it could be one of the worst mistakes made by an Indian government with serious social, political and economic consequences.