The Narendra Modi government s sudden demonetization of 500 and 1,000 notes in November 2016 failed to put a dent in the black economy but caused untold hardship to hundreds of millions of Indians It has crippled the country s economy for a long time to come In this book, Arun Kumar, the country s leading authority on the black economy, tells us why Modi s gambit failed He shows us the way in which the problem can be rooted out, provided the government has the political will and determination to act.Today, the black economy is estimated to be 62 percent of GDP or about 93 lakh crore 1.4 trillion Corrupt businessmen, corrupt politicians and corrupt members of the executive bureaucrats, police and the judiciary are responsible for controlling the black economy and enabling its growth If the black economy were to be dismantled and turned into a part of the white economy, the country s rate of growth would be 12 percent If it had not grown the way it has since the 1970s, India s per capita income today would be approximately 7 lakh per annum 11,000 , and India would become the second largest economy in the world If the black economy were taxed at current rates, it would generate 37 lakh crore in additional taxes, and the union budget would show a surplus of 31 lakh crore instead of a deficit.The failure of successive governments to tackle the problem effectively has been the single biggest obstacle to eradicating poverty It is the cause of both widespread policy failure and the inability of the nation to improve its living conditions rapidly.