{"product_id":"demonetization-and-the-black-economy-paperback","title":"Demonetization and the Black Economy - Paperback","description":"\u003cp\u003eby \u003cb\u003eArun Kumar\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eOn 8 November 2016, the prime minister announced the immediate cancellation of all\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eRs 500 and Rs 1000 denomination notes, wiping out 86 per cent of the currency in\u003c\/b\u003e\u003cbr\u003e\u003cb\u003ecirculation. India's well-functioning economy went into a tailspin.\u003c\/b\u003e\u003c\/p\u003e\u003cp\u003eThis move, it was claimed, was made to wipe out corruption, deter the generation of black\u003cbr\u003emoney, 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. \u003cbr\u003eBusinesses, 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.\u003cbr\u003eA year later, the RBI announced that 99 per cent of the old currency notes had been deposited with\u003cbr\u003eit. India continues to grapple with the effects of this move. The black economy has not been\u003cbr\u003edented; counterfeiting and terrorism continue; the credibility of the RBI, banks and currency is\u003cbr\u003edamaged; the accountability of the Parliament and the prime minister has been eroded; and the social divide\u003cbr\u003ehas widened. There have been many arguments and counter-arguments from both sides, but they have\u003cbr\u003emissed the complete picture.\u003cbr\u003e\u003cb\u003e\u003ci\u003eDemonetization and the Black Economy\u003c\/i\u003e, for the first time, lucidly explains the story\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eof demonetization along with its effects on the economy.\u003c\/b\u003e\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eArun Kumar is the country's leading authority\u003cbr\u003eon the black economy. He has written, studied\u003cbr\u003eand lectured extensively on this subject for nearly\u003cbr\u003efour decades. He was educated at Delhi University, \u003cbr\u003eJawaharlal Nehru University (JNU) and Princeton\u003cbr\u003eUniversity. Kumar taught economics at JNU for\u003cbr\u003ethree decades and retired in 2015.\u003cbr\u003eHis focus areas include public finance, development\u003cbr\u003eeconomics, public policy and macroeconomics. His\u003cbr\u003ework has been published widely in these areas, both\u003cbr\u003ein the popular press and academic journals. He is\u003cbr\u003ecurrently the Malcolm Adiseshiah chair professor\u003cbr\u003eat the Institute of Social Sciences, New Delhi.\u003c\/p\u003e\u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 344\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.87 x 8.43 x 5.28 IN\u003c\/div\u003e\u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e May 01, 2022\u003c\/div\u003e","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":51766299230496,"sku":"9780143456407","price":15.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0974\/9764\/5344\/files\/de21fa5f2714bf1aa907fc36c9b182ec.webp?v=1780289605","url":"https:\/\/ebocreations.com\/products\/demonetization-and-the-black-economy-paperback","provider":"The E-Book Oasis LLC","version":"1.0","type":"link"}