Black money declared in India. Is it good for the economy or it doesn't matter muchRecently Government schemes to cleanse the undeclared money in India were launched
Income declaration scheme 2016- around 67,000 crores were declared by black money holders.
Pradhan Mantri Garib Kalyan Yojna - around 4,900 crores were decared. Demonetisation also came in between.
Some feel these figures are just the tip of the iceberg, the actual stash out still is huge. What would the impact of these declarations on the economy. What percentage of this 'recovered' money goes back to the honest tax payer (directly or indirectly).