{"id":53,"date":"2007-06-14T02:01:25","date_gmt":"2007-06-14T07:01:25","guid":{"rendered":"https:\/\/www.ashokkarania.com\/blog\/?p=53"},"modified":"2007-06-14T02:01:25","modified_gmt":"2007-06-14T07:01:25","slug":"black-economy-in-india","status":"publish","type":"post","link":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/black-economy-in-india\/","title":{"rendered":"Black Economy In India"},"content":{"rendered":"<p>Recently, <a href=\"http:\/\/www.businessworld.in\/content\/view\/1805\/1868\/\">Businessworld<\/a> Magazine had carried a excellent and timely cover story on the growing black economy in India.<\/p>\n<p><a href=\"http:\/\/www.businessworld.in\/content\/view\/1805\/1868\/\"><img decoding=\"async\" id=\"image54\" alt=\"mag_jun04.jpg\" src=\"https:\/\/www.ashokkarania.com.php5-9.dfw1-1.websitetestlink.com\/wp-content\/uploads\/2007\/06\/mag_jun04.jpg\" \/><\/a><\/p>\n<p>It is true that there is no political will as the political-bureacratic class are also involved. Some guesstimates indicate that the Black Economy is larger, deeper and wide-spread across the socio-economic strata. How many people we meet in a day? How many of them actually account for their earnings and pay taxes? Under-reportting of income is an accepted norm for doctors, contractors, builders, cable operators, restaurant barons, event managers etc. We are not speaking here of not-so-poor fruit vendors, petty traders and beauty parlor owners or officially illegal trade such as drugs, trafficing etc.<\/p>\n<p>The surprising thing is the &#8216;crawl when asked to bend&#8217; approach of financial authorities. It is no wonder that legitimate Indian businesses are setting up operations overseas and talented Indians are migrating. After a point, patriotism sounds a cruel joke when we look at the politicians.<\/p>\n<p>Yet the India Story remains intact. The power of young Indians remains in place. Only the pace and direction might see some correction.<\/p>\n<p>Some of my comments have been published in the latest issue of Businessworld.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, Businessworld Magazine had carried a excellent and timely cover story on the growing black economy in India. It is true that there is no political will as the political-bureacratic class are also involved. Some guesstimates indicate that the Black Economy is larger, deeper and wide-spread across the socio-economic strata. How many people we meet [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,23],"tags":[],"class_list":["post-53","post","type-post","status-publish","format-standard","hentry","category-article","category-money"],"acf":[],"_links":{"self":[{"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/posts\/53","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/comments?post=53"}],"version-history":[{"count":0,"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/posts\/53\/revisions"}],"wp:attachment":[{"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/media?parent=53"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/categories?post=53"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ashok-karania-wordpress.staging9.com\/index.php\/wp-json\/wp\/v2\/tags?post=53"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}