New Delhi: The Narendra Modi government’s decision to scrap existing currency notes of Rs 500 and Rs 1,000 has kicked up a lot of dust in both the economic and political sphere.
The way it was implemented has led to many questions and much confusion.
To begin with, the primary focus of the policy is on ‘black money’, wealth which is undocumented and hence untaxed.
It operates in a parallel economy which is unregulated and hence outside the state’s purview. But how much black money is actually present in the country? More importantly, how much of it is actually present in hard currency?
Apart from cash, what are the other avenues where this black money can be stored?
How does this black money moves around?
The following series of graphics tries to answer these questions:
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