About the Book

Issue of black money has gained more attention due to political reasons and economic consequences of this menace has taken a backseat in this discourse. Indian government constituted various committees to understand the nature and magnitude of black economy and suggest remedial measures. However, black money proportion of GDP has increased consistently which proves that there is too much theory and too little practice when it comes to tackling this issue. Issues of black money, tax evasion, money-laundering, benami property, terror financing etc. are highly interrelated because the prime motive of the perpetrators of crime is to get unlawful financial gains. Globalised world has provided multiple ways to the perpetrators of the financial crimes to hide their identity. Lack of cooperation between the countries is one of the primary reasons which prevents the meaningful resolution of cases. Role of political machinery is also quite important because political establishment drives the legislative and policy decisions. In November 2016, India demonetised high value currency notes with an aim to reduce the cash circulating in the economy with an understanding that a significant part of black money is in the form of cash. This book aims to cover the issue of black money, its causes & consequences and the way out. This book has been written in a language devoid of technicalities and jargons which can be helpful for a general reader who is interested in this topic.

About the Author

Shshank Saurav is a Chartered Accountant and a Commerce Graduate. He has a distinguished academic career including All India 34th Rank in CA Final in November 2009 and All India 48th Rank in CA PE-II. He holds specialisation in International Financial Reporting Standards (IFRS), Anti Money-Laundering (AML) and Foreign Exchange & Treasury Management (FXTM). He started his professional career with M/S Price Waterhouse (Indian affiliate of multinational audit firm PricewaterhouseCoopers -PwC). In the past he has served as member of the committee constituted by his alma mater The Institute of Chartered Accountants of India (ICAI). Apart from professional commitments, he regularly writes on economic & socio-political issues. Many of his articles have been published in renowned newspapers and magazines.