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What is black money?

Join courses with the best schedule and enjoy fun and interactive classes. Black Money is the money on which income tax is not paid. This money is earned through corrupt practices and not declared fearing legal action. In this Essay on Black Money will discuss The Sources and its Impact.

How black money is earned?

Black Money is earned by dishonest means. Generally, people use it to bribe government officials and other relevant agencies, in exchange for a certain favor. This corrupts the whole government machinery and reduces peoples’ trust in government and administration.

What is Indian black money?

Black money in the Indian context refers to funds earned on the black market, on which income and other taxes have not been paid. The total amount of Indian black money deposited in foreign banks is over Rs 7,280,000 Crores, according to an estimate by R Vaidyanathan, a Professor of Finance.

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