As suggested by the heading this project deals with black money. The paper has been divided into three chapters which illustrate how the black money is affecting our society.
In the first chapter, ‘WHAT IS BLACK MONEY?’ we talk abou the meaning of black money,its causes and consequences.Any kind of money that is earned illegally is refered to as black money
Causes of black money:-
Corrupt Politicians & Bureaucrats
Complex Tax Structure
Intensity of Regulations
Inefficient & Corrupt I.T. & Vigilance Dept.
Declining Morale to Pay Taxes
The generation of black money result in various things such as
Decrease in Govt. Revenues
Decrease in quality & quantity of Public Goods & Services
Higher Taxes & Inflation
Difficulty in Monetary & Fiscal Policy Formulation
Increase in Criminal Activities
Chapter two, ‘SWISS BAK AND INDIAN BLACK MONEY’ , talks about the Indian Black Money in Swiss bank. The amount of black money deposited in the Swiss bank is is about 13 times larger than the country's foreign debt. This amount is such a big amount that from it 45 crores of poor people can get Rs 1,00,000 each. This huge amount has been collected really from the people of India by exploiting the people of India and by betraying people of India.
Once this huge amount of black illegal money and property comes back to India, the entire foreign debt can be repaid immediately in 24 hours only.
After that, we will still have surplus amount almost 12 times larger than the foreign debts.
The last chapter, ‘IMPACT OF BLACK MONEY ON SOCIETY’, deals with the impact of black money on our society and how inflation and black money are interrelated. Various cases have been used as example to depict the role of black money in our society.
2.what is black money
Illegally earned money is called black money. Black money is the result of hoarding smuggling tax evasion and dealing in immovable property for which the consideration is...