Modi's 'surgical strike' on black money
Graphic shows facts and figures about the black economy in India.
Indians have returned $80 billion worth of high-value currency notes -†500 rupees and 1,000 rupees-since Prime Minister Narendra Modi banned their use as part of a crackdown on corruption and tax evasion.
Modi's election in May 2014 signalled a new era for India's black economy. The administration enacted regulations in December 2015 that required buyers to furnish identity numbers when purchasing real estate or large quantities of gold - preferred parking places for vast amounts of black cash.
In 2015, Finance Minister Arun Jaitley estimated that Indian households had amassed some 20,000 metric tonnes of gold in jewellery, coins and bars.
The government then announced a tax amnesty in the 2016-17 Union Budget. The four-month Income Declaration Scheme drew in $10 billion in undisclosed income and raised $4.5bn in tax revenues.
A good start but just drop in the ocean for India's shadow economy, worth an estimated $460 billion.
Cases surge in Moscow and Saint Petersburg READ MORE
Death toll climbs to 448,339 with 277 fresh fatalities READ MORE
The mink is the only animal identified so far as being able to... READ MORE
Earlier on Friday, Bloomberg reported that a panel of ministers had... READ MORE
Inaugural flight to be launched October 25 READ MORE
Light to moderate winds READ MORE
Adil Rashid took four wickets for just two runs READ MORE
Plan will transform Hatta into an attractive local and international... READ MORE