Today, the black economy is estimated to be 62 per cent of GDP-or about Rs.ĩ3 lakh crore ($1.4 trillion). He shows us the way in which the problem can be rooted out, provided the government has the political will and determination to act. In this book, Arun Kumar, the country’s leading authority on the black economy, tells us why Modi’s gambit failed. It has crippled the country’s economy for a long time to come. 1,000 notes in November 2016 failed to put a dent in the black economy but caused untold hardship to hundreds of millions of Indians. The Narendra Modi government’s sudden demonetization of Rs.
Arun Kumar, Professor Centre for Economic Studies. Economist Arunkumar estimated the black economy in 1995 at 40 of GDP. 14 Arun Kumar, after an.the business men on the other, fuels black economy in India.
