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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

Published Wed, Nov 4, 2015 · 09:50 PM
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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, according to the government.

"I'm a great supporter of this informal sector," Mr Jaitley said in an interview on Monday. "The info…

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