Black Money

Black Money

There are many problems before our country. Black money is one of them. It is perhaps the biggest hurdle in the speedy development of our country. Blake money is a threat to our real economy. It widens the gap between the rich and the poor. It gives rise to corruption. People becomes inhuman because of evil effects of their black money.

 Several factors are responsible for the growth of black money. It growth through the sale of fixed assets. Fixed assets are underpriced. Sometimes our powerful firms get quotas of import licenses in excess of their actual needs. They sell them in black money market at higher prices. Sometimes relatives whose income is not taxable are kept in the pay rolls of a company. They are paid their salary. But their salary is taken back in the form of black money. Large scale smuggling of gold and other items of luxury, gives rise to black money.

 Th ar several causes of black money in the country. There are high rates of taxation in India. Income tax laws are so unfavourable that people like to evade taxes. Doctors, Lawyers and business man feel like evading taxes. The result is in the growth of black money Blake money is used in our film industry also. Th government feels the danger of black money. It tried to stop its growth. Several laws have been framed. 

The government wants that the sale of fixed assets should be fair. Income tax rules should be soft. Efforts are made to stop smuggling. From time to time the government gives opportunities to declare black money and get it converted into white money.

We must have a sense of nationalism. We should think of making India economically sound. We should have a high sense of morality. We hope black money should not hamper the speedy development of Indias economy.                                      

                                           -: Aditya Verma :-
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