Journal Press India^®

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Black money and tax evasion are eating into the social and moral fabric of Indian society. They are undermining the socio-economic objectives of India’s Five Year Plans. They are responsible for conspicuous and wasteful consumption, reduced savings, and increasing gap between the rich and the poor. Black money in social, economic and political space of the country has a debilitating effect on the institutions of governance and conduct of public policy in the country. Governance failure adversely affects the interests of vulnerable and disadvantaged sections of society. The success of an inclusive growth strategy critically hinges on the capacity of society to root out the evil of corruption and black money from its very foundations.

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