Black Money in India

According to me, the Indian economy grows faster because it gives transparency in the system. As the customer will know how much tax they are given in government of India but when the black money concpet come all the meaning of giving taxex is reduced.

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.

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.

There are large sources of black money the major source is corruption in everywhere. This can be regulated to transparency in every government projects and need to check the bank account and the properties of politicians, officers. So, we can say the overall conclusion is that stop the corruption and welcome the transparency at work.

Now that we have understood what is black money, it is important to discuss why this is affecting India adversely. This black money, gives rise to a parallel economy, which affects the transparent transactions which happen through cheques and banks. Black money further leads to malpractices like corruption, bribery, crime etc. Black money in India is also used for funding extremists, which cause a lot of damage to life and property. Hence, black money is something which is corrupting India and dampening its progress.

First of all, thanks for this opportunity.

My point of view about black money is the illegal assets when we are not paying the taxes, or our assets is not in surveillance under the government (income tax). It is a big issue in our country as well as in other countries. We can't say this problem is in only our country. On other sentence is corruption is the main part of this problem. Today black money ' s issues are not only in the individual sector. Politics, business industries. Everywhere it is the main problem.

Hello.

I am A S Anjani from Bihar.

Today we discuss Black money. The money which is stored by without paying any taxes. The collection of this money by any way in which one is famous that is a bribe.

Our government continuously try to decrease this but its impact is not marvellous. Our present prime minister takes a big decision regarding this NOTE BANDI.

Hello, I'm Sakshi.

The topic given for GD is black money.

Black money is not limited to unpaid taxes but it has different faces, either in the form of gold, currency, foreign deposits, market shares or land.

Unless and until the Government takes any strict action it becomes a serious issue.

80% of the people from the country belong to the middle class or poor class category. This Black money affects their basic needs and this affects the GDP of our nation. Because of black money corruption rises and India is still a developing country not a developed country.

The portion of a country's income that is tied to its black economy affects the economic growth of the country. Black economy constitutes a financial leakage since tax income from unreported earnings is not received by the government, thereby, serving as a loss of revenue to the government. In addition, since these funds rarely enter the banking system, economies are stifled, as money remains hidden that otherwise could be used by banks to stimulate the economy by funding small business owners and entrepreneurs. In addition, black money causes the financial health of a nation to be underestimated.

Thanks.

Firstly, Modi government banned the notes for the sake of decreasing black money in our country but, it doesn't work. The government provided strict rules to pay taxes for the particular business and etc. Not only government, every citizen has responsible for the developing Indian Country soo, we should have obey the rules.