ABSTRACT
The damages caused by the black market slowly become highly pestering, inasmuch as a successful black-marketeer, or a group of them, often tends to hold a grip on the market, thereby imparting to the black market some sort of a perpetuity. While economists are loud against the black market, and the black money that it fosters, there is little unanimity of views as to the strategy for its liquidation. Many-splend-oured strategy to enforce discipline in prices and distribution only can checkmate the contrary forces operating in the economy. The possibility of an overall change in social values, as a possible remedy for black market and black money, needs to be explored. The Direct Taxes Enquiry Committee, India, laid the maximum emphasis on searches and seizures as the most potent weapon for unearthing black money. Conversion of black money unearthed and evaded income retrieved into authorised investment for development programme merits serious consideration.
