Black Money in India

The hidden huge amount of money is always impacting negatively on our entire economy.

Indian govt, therefore, must check to it, further growth of it.

Indian political system helps to The Black money holders at all levels and categories. Here the best and only way is Our Appellate Judiciary Must interfere through DPSP Of our constitution to curb and release the enormous currency back to India.

It's really possible to complete the process in time.

Thanks.

Let's begin with our country.

Nowadays black money spoils the total growth of our country including our routine economy also instead of killing us. Compared to other countries India has the largest population it's the main reason for the corruption now. Because the black money is hidden in the population the corrupt people's hide the huge amount of black money in the huge population.

They didn't pay the taxes.

They hide their income.

They created the fake documents to avoid raid.

They think it's not necessary to pay taxes regularly.

Some of the political powers, officials in their hand that's why they live like that. But they didn't care about our nation growth across the world economy level.

The solution for black money corrupting government Should take severe actions to who are handling it then block their money it's will helps to black money corrupting in our Nation.

Thanking you.

Many people in our country find different types of tactics to save income tax. It's our moral duty to pay the taxes because we are citizen of this country. Without having money govt are unable to do the development work. Due the black money, govt have to rise the prices of the necessary good. Rising prices of essential goods, it effects the pocket of the middle class and lower class family. Due to rising prices, they are unable to full fill their basic needs.

Hello everyone.

Black money is that type of money that is hidden by big politicians, businessmen, and others who are corrupt!

They hide this money by not paying proper taxes.

There are various sources of black money but I feel digitalising the currency is a good way to stop this kind of thing!

Our prime minister has started demonetisation, but it is not that helpful, only near 1trillion$ is seized!

So, we should step towards it & should've to stop this.

Thank you.

Hello everyone.

The topic given us is black money in India.

It is a very important topic for India.

First, we should know what is black money?

Black money is money that has no records to the government. And the black money holders do not pay tax to the government. They do not pay tax to the government so the economy of the country does not increase as it should increase. Black money also supports corruption and terrorism.

Black money is a main cause of Corruption. Corruption starts from black money. Black money is illegal money. It affects especially poor and middle class family because they have to pay bribes for every small work. They give bribes because they have a fear to pending theri work.

So I think, we and only we are responsible for black Money. Today it is a serious problem for our nation. It is a curse for our society.

I think, there is only one reason of black money that every one wants to become more and more wealthy. They consider money as the most important thing in life.

It can be reduced only the better afforts by the government as well as every person.

Thank you.

I want to add on this, as we see there is corruption everywhere. Black money is all about this. All leaders, politicians and all big people have black money.

As jio is being a trap of removing the black money when demonetisation was being about to apply. All big business icons have black money. And the middle class & lower class people suffer because of this.

1. First, we need to understand what exactly Black Money is: Black Money is neither of the
lack colour nor the money generated through illegal means nor the money over which the tax hasn't been paid rather black money is that money of which information hasn't been given in ITR during filing.

2. What is the root of generating black money: Well only corruption is the main root of generating black money, where there is corruption, definitely, there will be Black money.

3. Sources of generating black money: There're various means to accumulate black money like smuggling, crimes, hoardings, hawala, bribes, politician, tax evasion, real estate and so on.

4. What measures have been taken by the government to reduce or to rein over the black money: Connecting bank accounts of the individuals with their ADHAR CARD (UID), Initiating the Digital India campaign in 2015 to control over the transaction and bringing transparency and for the other reasons too, Demonetisation of 500 & 1000 Rs. Notes to control over the terrorism funding, hawala transactions, accumulated black money; opening up the 'Jan Dhan account" create transparency and many more.

5. Why govt failed: As per the writ petition in the Supreme Court estimated to be at 300lac Crores Rupees is the black money in India and deposited in a Swiss bank (Switzerland) but Government courageous step towards Demonetisation got failed due to lack of planning of the RBI and other banks, around 99. 3 % currency notes returned to Bank which was expected to be at 70%. So there can be two cases either there was no black money flowing in the market or people found the loopholes to convert black money into white money. After the Demonetisation, 2000 Rs. Fake currency notes were found in an ample quantity. Even after Demonetisation, terrorist activities and attacks continued.

6. How to rein over the black money: Making the harsh law and execution of the same to punish such black money offender and forming an SIT and providing them a free hand and enough powers & authorities to rein over the black money; Proper planning and strategies; exposing the swiss bank account holder's name, controlling over the hawala transactions and terrorists funding, encouraging Digital India campaign and cashless economy; keeping an eye on real estate transactions and so on.

Thank you.

Hello everyone.

Today I am discussing the topic of black money.

- It is money that illegally save in accounts.
- It is very sensitive problem in India who nobody care it.
- Due to black money rich people is reach and poor people is poor then how can India improve.
Thank you.

Earning money by the illegal way is back money.

Black money in India is a serious problem. Corruption is happening at all levels of government and organization structure in the country which affects our country's economy badly. A few years ago, Modi Government launched "Demonetization" which was a noble move to curb corruption but it did not make a meaningful impact and now we need better methods to reduce the use of black money in the country.

We have found ways that do not negatively impact the economy of our country. A beneficial move would be to transition into digital currency which is more traceable and safe too and also environmentally friendly. It would not affect the country's economy instead do more good.