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Black money is the flavour of the season. The UPA government tried to bring it back and the Narendra Modi government is keen on bettering the legacy. B.V. Kumar's second revised edition of his earlier book, The Darker Side of Black Money, delves deep into the world of financial secrecy, cash stashed overseas and tax havens.
A former Indian Revenue Service officer, Kumar has served as director-general of Revenue Intelligence, Narcotics Bureau and Economic Intelligence Bureau. His experience spanning 35 years gives him the prowess to simplify the black money issue for the common man.
He writes about the blossoming of criminal organisations, wrongdoings by banks and the demand and supply of black money. Kumar's book is a handbook for anyone who wants to understand how black money has fuelled "the unholy nexus" between drug trafficking, economic crime, terrorism and money laundering and vice versa as well as Indian politicians and corporates.
Kumar painstakingly goes into the origin of black money, how it flows into and out of civil society and makes its way to tax havens making it impossible for countries like India to bring it back.
In an almost historical account, Kumar has recounted cases, research and statistics from around the world. In the current political atmosphere, where there is tremendous curiosity about black money, Kumar's book is a must-read.
(Arrangement with THE WEEK)
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