Black Money in India

Black money means illegal or hidden money that escapes taxes.

So, the Government loses tax money, so less money for schools, hospitals, and roads.

And prices of land, houses, and daily goods increase.

It weakens the country's economy and growth. Government schemes and welfare plans fail due to a lack of funds. Honest taxpayers feel discouraged when others escape tax. And it also encourages corruption, bribery, and illegal activities. So, the government made a good decision to ban notes.

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.

Black money is money earned by illegal resourse. In my opinion, black money is not good for any country.

It is curse for any country.

According to government, low unpaid tax and uncounted money come in category of black money.

If I talk about black money in india, most of politician is engaged in corruption and corruption leads to illegal activities.

Another reason is system of country, system of any country play very vital role in development of any country.

So, if system of any country is not good then it increase corruption.

Hello good morning sir,

Nowadays black money is common because in their particular job, they illegally earn money through corruption. More amount is coming from corruption which is mostly handled by Government officers, and politicians. But some people are being paid by the government perfectly. If they do wrong they hide more money in the house and some hidden places.

Black money is money on which tax is not paid to the government. The sellers in both examples have earned money from legal sources but evaded taxes. The most common source of black money is the black market or underground economy.

Thank you.

In India, black money is funds earned on the black market, on which income and other taxes have not been paid. Also, the unaccounted money that is concealed from the tax administrator is called black money. The black money is accumulated by criminals, smugglers, and tax evaders.

Hello this is Rajesh.

Black Money is a word which consists of a lot of information regarding the Indian Economy which is GDP. As the Taxpayers most of them are poor and middle-class working men/women. But most of the higher-standard people just there ignore tax. That means there just hiding the black money because of them Middle-class and poor people are suffering. In India, if Black Money increases, the young generations' growth will worsen at a certain point.

Thank You.

The first govt should ban all offline money and explain about online transaction even for 1 or 2 rupees also do in online only. They we can get uncorrupted India if this was not implemented we can never say that "India is developed country" after 10000 years also we say "INDIA is developing the country". I think so India never gets developed.

I wish to talk hereby about black money in India.

Black money is nothing, but Money earned in illegal activities and the unpaid amount as a payment of tax to the government. The person who hides some of the amounts from the total earnings to avoid proper tax payment. Mostly, it is held in India, It is a very important thing to be analyzed by the reputed officers to the development of India's economy.