Black Money in India

Black money is the main problem of India. Which makes weak of the India. It makes weak of India because many peoples of India keeled the illegal money so India is not repaying loan of other country.

In India, most of the Black Money is in the hands of "Politicians" and "Businessmen". This black money is hidden from the government under their "Benami's". To collapse this black money government recently came with "Demonetization". But as the citizens, we should also make India free of "Black Money" by making all the operations and pays legally.

Hi guys, we all are discussed here the term black money.

According to my opinion, we are Perpetrators of this scenario that why black money runs in the market because everyone busy in blaming one another than to try to overcome the problem if we individually think and make a resolution that we do not take and gives bribe then we will get rid of quickly from this situation.

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.

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.

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.

Black money reduce our economy rate and that's why until this is developing country.

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.

In my view, according to Reserve bank of India statistics, 99.3% of 500 & 1000 rs notes have collected intended the results that the aim of demonetization have not completed, still, there is an existence of black money in India and the reason behind that is an unpaid tax, money laundering act guidelines etc.

It's well known that earning money through illegal ways will be termed as "Black Money".

It important to understand that why people prefer the illegal channels to earn or make deals, its because the tax and financial laws prevailing in the country are too stringent, complex and public doesn't want to pay to government as they lack trust in its working and expect no proper returns, like no proper police reforms, bad roads and drainage system, poor infrastructure, lack of employment, poor healthcare etc.

The other reasons might also be over taxation which is quite evident from the prevailing petrol prices in the country. Over taxation will always lead inflation and hence less revenue generation as it reduces the consumption of products and services.

Further to add on these complex laws are creating an illegal parallel economy in the country which will only affect negatively on the treasury of the government.

It's time for governments to realize this and implement a transparent, balanced, simplistic, financial and tax laws in India.