This article attempts to make an advance in the estimation of the size of the black economy in India by bringing in the institutional aspects of black income generation and taking the macroeconomic variables they affect into consideration. The fiscal approach recognises that black incomes are generated through many different ways in various sectors. The size of the black economy is projected on the basis of the share of the services sector and trade in gross domestic product, with the crime rate representing the extent of illegality. The New Education Policy on the anvil should encourage academic talent and innovation to make the system of higher education more responsive to the needs of various stakeholders instead of just attempting to create a uniform standardised structure. To ensure this, political and bureaucratic interference in educational institutions, which has steadily eroded the quality of higher education in India, will have to be minimised, academic autonomy strengthened and diverse opinions taken into account while building a new policy framework. The introduction of the goods and services tax may indeed be the biggest reform of taxation so far, but the proposal, as it stands, has led to confusion. Certainly, the myriad taxes producers face will be simplified.

But the benefit will go to large-scale producers while the small-scale ones will be at a greater disadvantage than before. The cascading effect will be reduced but not eliminated. With resort to revenue neutrality, prices and costs will not decline. A 'revenue neutral rate' will, however, be difficult to calculate and will be controversial, given the variety of taxes being replaced. The adoption of a fixed revenue neutral rate for all stages of production and distribution will lead to a rise in the prices of basic and intermediate goods, as also of services, making the introduction of GST inflationary, unless this problem is specifically addressed.

Black Economy India Arun Kumar Pdf Writer. Helpndoc Keygen Software. Gmail is email that's intuitive, efficient, and useful. 15 GB of storage, less spam, and mobile access.