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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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.
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