Impact of Black Money on the Indian Economy

Abstract

The famous quote from the former Secretary General of the United Nations Organization amply highlights the severity of the problem of black money/ corruption being faced by the world and its dreadful effects on the economy, both at micro and macro levels. Further, it would not be out of place to state here that this problem impacts every aspect of an individual’s life. This paper is an endeavor to bring forward the various facets related to ‘Black Money’ (BM) and its multifarious association with govt. policies and other organizational practices in India, and to highlight some of the initiatives undertaken by the Indian government (govt.) in the ways of strategized policies to curb black money and increase in corruption in the country.