Black Money in India

From many years, we face the problem of black money in our country. This black money increases in anywhere due to the greed of the peoples to don't giving tax. The Indian government also has taken some important step to resist it which examples we see as "Notebandi", GST etc.

I think that this problem cannot be solved only by Government restriction for clearing black money from society, but it can be solved by cleaning our black Mind.

Thank you.

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.

Hello guys.

As we all are discussing black money in India so I want to tell you all guys what is black money? Black money is that when a person earns money form illegal work and hides his money from govt for not paying tax is called black money this is the reason that India is under development and facing many problems and only some people are not doing such but also we all are doing because some of us also not paying tax so having money over limit we should pay tax.

We should help our country it is not the only the responsibility of govt we should also participate in help of country.

Thanks a lot.

Hello everyone.

I am Abhit, today we are here to discuss black money in India.

The main source of black money is the black market. Black money is that which is earned by illegal means or without paying of the tax. A large no. Of Indian deposits black money in Switzerland banks about $1trillon. So many business people store a large number of commodities at their store place, and after some time, when there is a deficiency of these commodities, they sell these at a very high rate. Black money is collected by a smuggler, criminal and politicians. Black is a big reason for poverty and corruption. A good step had taken by the government in 2016 in form of demonetization. Thanks.

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. People should realise that thing that it's our moral duty to pay the tax and not hide our actual income then the change will come.

Nowadays black money is increasing very fast in India. If government will not take action on black money. India never develops like others country. So, it is important to take serious on black money.

Hello everyone.

My name is Abhishek Sen.

Today, I am discussing 'black money in India '. Nowadays black money is increasing very fast in India. If govt will not prompt action on the black money India never develops like another country. And as we know India is a developing country and moreover. Approximately eighty percent of people in India will fall under the category of the middle class and poor class so they are mostly dependent on the government for getting the benefits of government services. Mostly they won't wait for that. 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 tax yet paid. If the people in India is honest in their work half of The black money can be abolished.

In my opinion, black money is basically rich people don't pay taxes on time and also hides a huge amount in their houses and also some people hide their money in foreign countries. The government don't get taxes on time so it increases the cost of needy things and poor people have to suffer. The government need taxes for the repair of roads and streets and for development of India. So people have to submit their taxes on time so that no can suffer.

It's the people who are corrupt. Why they are so greedy that even on seating on the chairs of responsibilities. And getting dignity respect from a citizen of India. Still, they are running out of money through illegal way. It's not the Government which has to change its mindset of the people which has to change.

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.