Parallel Economy in India: Causes, Effects and Government Initiatives

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Corruption is the misuse of entrusted power for private benefit. It involves behavior on the part of officials in the public sector in which they improperly and unlawfully enrich themselves, or those close to them by the misuse of the power entrusted in them. It enhance black economy. It has a devastating effect on the legal system. It distorts law making, court ruling and law enforcement and in the end, erodes the rule of law. This has overwhelming consequences for the society as well as economic activity. Corruption is now perceived as a major problem facing countries, especially the developing ones. It is increasingly being considered as one of the most important obstacles to development. The issue of corruption is no longer confined to national boundaries, with foreign investors and aid organizations showing increasing concerns. In this book, an attempt has been made to cover all aspects of corruption scams in India. Situation of parallel economy in various developed and developing countries are also discussed in this book. Initiatives of Government of India and Supreme Court of India are also included in this book.