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Journalism of Courage
Estimates for the parallel economy are far brighter than that for the white money economy. According to estimates made by the National Council of Applied Economic Research NCAER, the number of households with an annual income of more than Rs 5 lakh will rise from 2,034,000 in 1993-94 to 6,304,000 in 2006-7 which is more than three times. These figures were arrived at after including black income. However, if you compare these figures with that computed without including black income, in 1993-94, there were only 1,92,000 households with an annual income above Rs 5 lakh. This number will rise to 2,126,000 which is about the number of persons in this segment in 1993-94 if black money is included. So more money, means more spendings be it in black or white!
