Black money and how to curb it.
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- Divide your essay into 3 parts (each in a different paragraph).
- Introduction -> content -> conclusion.
- Give a space after the full stop (.) and comma (,).
- Capitalise the next word after the full stop.
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3 Aug, 2019 5:08 AM
curb is only possible when we change the system but not change in the money , by changing the money people get suffer so there is no change in the economy in fact police and political people get more money the central department can have the power to change the system but not entirely it can be possible only with the help of state government, because the money will get distributed while transferring so if we concentrate on the state government there is a possibility to curb the money and control of Demonetisation and we say proudly India is a developed country.
22 Jul, 2019 8:36 PM
Black money is basically the money earned in black market. It is the amount which is hidden from the government so as to avoid taxation on the same. The accumulation of black money has several negative repercussions on the society with economic and social disparity being the major ones.
Sources of Black Money
Now the question remains that when there are so many negative impacts of black money then why isnâ€™t the government taking steps to eradicate the problem? Well, the government is making efforts to free the country of black money however the sources of this ill practice are stronger than the policies imposed to get rid of it.
It goes without saying that evasion of different types of taxes including the income tax, state taxes, corporation tax, excise duty and customs duty is the key to generating black money. Here is a look at the various other sources of black money:
Black income via exports: A lot of black money is generated by businesses that export their goods.
Black market: The good supplied in the black market are another source of black money.
Stock Market: A lot of profit is generated via the stock market trade and most of it goes unaccounted. It is this unaccounted profit that makes for the accumulation of black money.
Illegal commissions: Many government officials take illegal commissions from the general public for offering certain services. The income earned via this means is all black.
Bribes: A lot of bribery goes on at different levels in the government as well as private sector and this also contributes to black money.
Scams: Scams done by politicians and other people in power are undoubtedly a major source of black money.
The problem of black money has persisted in our society since decades. It is high time the government should come up with a foolproof plan to free the country from the clutches of this ill practice.
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