White lies on black money

Estimates of “black money” generated in the Indian economy vary: from rather minuscule amounts of a couple of billion dollars to more unbelievable numbers. On Monday, the Union finance ministry issued a white paper on the subject that highlighted various measures of black money and what needs to be done to curb its generation. The analysis carried out in it does not represent anything new; it certainly does not give a road map for handling this problem.

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