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CROSSWORD

Demonetization and the Black Economy

  • MRP Rs 499     Includes all taxes
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    • Product Description

      On 8 November 2016, the prime minister announced the immediate cancellation of allRs 500 and Rs 1000 denomination notes, wiping out 86 per cent of the currency incirculation. India's well-functioning economy went into a tailspin.This move, it was claimed, was made to wipe out corruption, deter the generation of blackmoney, weed out fake Indian currency notes and curb terrorism. Overnight, people in India realized that the cash in their pockets had no value. A window of fifty days was granted to 1.3 billion people to convert their old notes into new ones. Businesses, especially in the unorganized sectors, came to a grinding halt. Patients in hospitals faced huge problems, farmers had difficulty buying inputs, weddings were scaled down, and fishermen watched their catch rot. Many lost their jobs and could not support their families.A year later, the RBI announced that 99 per cent of the old currency notes had been deposited withit. India continues to grapple with the effects of this move. The black economy has not beendented, counterfeiting and terrorism continue, the credibility of the RBI, banks and currency isdamaged, the accountability of the Parliament and the prime minister has been eroded, and the social dividehas widened. There have been many arguments and counter-arguments from both sides, but they havemissed the complete picture.Demonetization and the Black Economy, for the first time, lucidly explains the storyof demonetization along with its effects on the economy.

      Product code: 204631276_9999
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    • Author Arun Kumar
      Publisher India Portfolio
      Language English
      Number of Pages 344
      Binding Hardcover
    • DISCLAIMER: Colors of the product might appear slightly different on digital devices.

    Arun Kumar is the country's leading authority. on the black economy. He has written, studied. and lectured extensively on this subject for nearly. four decades. He was educated at Delhi University,. Jawaharlal Nehru University (JNU) and Princeton. University. Kumar taught economics at JNU for. three decades and retired in 2015.. His focus areas include public finance, development. economics, public policy and macroeconomics. His. work has been published widely in these areas, both. in the popular press and academic journals. He is. currently the Malcolm Adiseshiah chair professor. at the Institute of Social Sciences, New Delhi.

    CROSSWORD:

    Crossword aims to be a point of cultural and social interaction where authors and poets hold court, where children are regaled, where people gravitate to be informed, to be entertained, even enlightened. The name embodies the vision of Crossword as a place and space for people who seek information, knowledge or just the pleasure of reading. Crossword stocks the widest range of Books – Toys – Stationery – Magazines, Gifting and Hardware & Accessories. You can reach out to Brand at: 022-66272140 or estore@crossword.in.

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      If you are not completely satisfied with your purchase, you can exchange most items to us within 14 days of delivery. We offer free and easy exchange through courier pickup, or you can exchange most items bought online at any of our stores across India.

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