The Parallel Economy in India: Causes, Impacts and Government Initiatives
A full analysis at the parallel economy in India has been attempted, including sources, effects, and government interventions. Based on these observations, it appears that parallel economies are on the rise around the world, especially in developed countries. A analysis of the results shows that it is well-known that the Indian government has implemented many bodies for the estimate of the black economy, but the estimation studies are not similar. There is an explosion of parallel (black) economies in India, and numerous government commissions are established to deal with it, but the outcomes are rather disappointing. Thus, the paper argues the bad results of the black market can be combated by implementing commission and rule guidelines.
Keywords - Black Money, Inflation, Privatization, Real Estate, India