News for hackers. Stuff that matters.

A comment on India demonetisation fails to purge black money. Parent comment

Re:India demonetisation fails to purge black money by alok-g on Friday September 01, 2017 @08:48AM (#15147901)
>> Indian Rupee is inflated by the govt at a crazy rate, because that's how the govt funds itself in lieu of taxes

Very interesting. I was looking for an answer to how the Indian government even funds itself with only 1% of the population paying taxes (which also suffers from tax evasion). Could you please explain more how inflation is used in lieu of taxes?

Thanks.

[ Parent | on HN ]
Re:India demonetisation fails to purge black money by splintercell on Friday September 01, 2017 @11:51AM (#15149535)
You print[1] more money and spend it.

1. Create more money should be the accurate term here. They can create more money by printing or, using debt.

[ Parent | on HN ]
Re:India demonetisation fails to purge black money by alok-g on Saturday September 02, 2017 @06:36AM (#15155268)
That makes sense. Thanks!

Is there somewhere I can read more about this? :-)

[ Parent | on HN ]