Early Lessons from India’s Demonetization Experiment
Harvard Business Review
MARCH 14, 2017
The original reason given for the drastic demonetization action was to expose the so-called “black” market, fueled by money that is illegally gained and undeclared for tax purposes. The remaining was invested in business, stocks, real estate, jewelry, or “benami” assets, which are bought in someone else’s name.
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