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Huge underground sector a boon to India: Jaitley

India's FInance Minister rejects economists' calls to rein in black economy and widen tax net as it keeps labour employed, puts cash in hands of consumers

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Most farmers don't make much money, said Mr Jaitley, and the rest could use the extra cash. "So bringing tax violators into the tax net, yes, but bringing people with marginal incomes into the tax net - I'm not so excited about it at all.

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Most farmers don't make much money, said Mr Jaitley, and the rest could use the extra cash. "So bringing tax violators into the tax net, yes, but bringing people with marginal incomes into the tax net - I'm not so excited about it at all.

New Delhi

INDIA'S underground economy is booming, and Finance Minister Arun Jaitley wants to keep it that way.

The informal sector is estimated at US$780 billion, or about 40 per cent of India's official gross domestic product. It employs more than 90 per cent of India's workforce

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