Essay on black money in india

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Black money is always an evil for any economy. There are various reasons for the generation of Black money. Image: Causes of Black Money in India. Certain activities are usually forbidden by law such as gambling, production of illicit liquor, smuggling, trafficking illegal drugs, lending at exorbitant interest charges, money lending without proper license etc. When some individuals wish to undertake these activities, these will apparently go unreported and incomes so earned would be totally black.
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Essay : Black Money in India

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Essay on Black Money in India in English for Words

Black money refers to unaccounted money that is untraceable and has no legitimate source though which it was earned. It does not reflect in any income tax returns or asset declaration statements. The owners of black money are most often not traceable. It is estimated that in the Swiss Bank itself, Indian black money worth 2. There are innumerable methods in which black money forms and daily several newer methods crop up.
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Black Money In India : Disadvantages, Effects – Essay, Speech, Article

But do we understand what this black money really is? These transactions generally are done in the form of cash and are not taxed. Do you ever wonder why corrupted people stash black money? Most of them do it to save the tax, some of them use it for corruption. And some of these anti-society elements used this black money for funding terrorist activities.
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The author in this article has discussed the increasing rate of black money, its impact on Indian Economy and the initiatives taken by the government to curb it. Black money is one of the serious issues in many countries and when talking about a country like India it is one of the biggest issues. This issue is not a new issue for India but an issue which has been in continuation since long back. Before understanding the core of this issue one needs to understand its actual meaning. After the country started developing i.
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