Black Money in India

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137 comments Page 1 of 14.

Manoj said:   6 years ago
The money earned from the black market it means earning money illegally.

1) unaccounted money.
2) unpaid tax, Etc.

These activities are illegal. The present black money reached up to 7k cores.

Neerja said:   6 years ago
Unpaid tax money is called black money. Or you may say the money that earned by illegal means is called black money eg bribe is also a kind of black money. I think that there are no. Of professions are in India where people can easily earn black money. Such as in govt offices, police, central govt etc.

Arun said:   6 years ago
India is a developing country and moreover, approximately 80% of people in India will fall under the category of middle class and poor class so they are mostly dependent on the government for getting the benefit of government services. But mostly they won't wait for tat, they have to use it quickly so that they will give some amount to the officers which lead to corruption. And also this forms a way to black money. Simply black money is the money for which the taxes yet paid. If the people in India is honest in their work half of the black money can be abolished. Then eventually if the corruption is abolished the politicians and rich peoples who hide their money will be noticed and most of the black money could me abolish.

Yogesh said:   6 years ago
Yes, black money is a most vital danger for Indian economy.

Badshah Ibrahim said:   6 years ago
First of all, l would like to say that there were many people in India. 80% of people in the medium of the middle class and lowest class. So many reach people captured the money of the lowest class people and as well as they don't pay the income tax to the government.

Thank you.

Snehalata Behera said:   6 years ago
In our country the many political people also many industrialists have plenty of black money. The middle class and poor people were facing so many problems for this. Due to this black money, no development occurs in our country. Price of every product increased gradually cause they should not deposit their income tax at the proper time. So poor people's became poor and reach became get reach.

Sanu raj said:   6 years ago
Black money, a huge restrictor in the development of any country. It is the property which is earned by unfair means or illegal in the eyes of the government.

Black money has different faces, either in the form of gold, currency, foreign deposits, market shares or land. Some criteria are fixed for paying taxes inside the country but people do not follow it. Many businessmen hide their actual income in order to escape from taxes any keep their income as black money.

Corruption is also a big factor behind it. Recently, Panama papers leaked the big name whose black money is deposited in the Swiss bank.

In past years, the government has imposed GST and bring demonetization to take out black money and restrict it in India.

Raj said:   6 years ago
Black money reduce our economy rate and that's why until this is developing country.

Sonu said:   6 years ago
I agree, for the existence of black money there is a major contribution of politicians and big industrialists.

The central government gives money to them for development of undeveloped areas or areas which need to develop but this middle person i.e. politicians and their contractors grab a large amount of money for their sake. Remaining little bit is given to work to display the place like developed.

Later their grabbed money becomes their black money.

Asha Devisetty said:   6 years ago
Due to our support only politicans are becoming illegal in our country. If politicians are corrupting our country, we simply watching. Not even any person ready to take stand because we only electing the person for every 5 years. How many passed India became only developing country. Without food so many people are servering but our Indian politicians are not ready to support our society they just need money not humanity. So, India has black money.

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