Causes and Remedies of Parallel Economy in India

The Indian economy has incessantly recorded high growth rates and has turn out to beastrikingpurpose for savings; but the currentfinding of dishonesty cases has thrown light on the dark side of the growth that is rise of the black money circulation in the economy.

When economic actions goes unreported or not precise by societies current techniques to observe economic movement it falls under parallel economy. Money that have neither been reported to the public establishment at the time of their creation or at any time of control; no taxes have been paid on it. The article provides a comprehensive detail on the causes of black and black money in the Indian economy. It also states the meaning of black money and parallel economy. It also states the ill-effects and impacts of the black money in the Indian economy. The article also gives a variety of policy procedures taken by the government to reveal the black money and the actions taken to and curb black money in the country.