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Indian Shadow Economy May Reduce to 13% of GDP by 2025
July 04, 2017
A new study by Association of Chartered Certified Accountants (ACCA) says that the Indian “shadow economy” will plunge to 13.6% of the Gross Domestic Product (GDP) by 2025.
Shadow economy is generally referred to the trading of goods and/or services that are illegal and kept hidden from the authorities.
According to the study, today the shadow economy makes for about 17.22% of the GDP and stood at Rs. 26,15,800 crore in 2016. By 2025, it’s expected to drop to 13.6%. Consequently, the global average will also shrink to 21.29% from the current 22.5%.
