By Rohit AgarwalRoll No. 127

The currency used in “black The currency used in “black economy”.economy”.

The proceeds, usually received in The proceeds, usually received in cash, from underground economic cash, from underground economic activity.activity.

Earned through illegal activity &, Earned through illegal activity &, as such, is not taxed.as such, is not taxed.

Sources

Movement of Black Money

By Hawala system (also known as hundi)i. Money transfer without money movement.ii. No promissory instruments are exchanged.iii. Based on the performance and honour of huge network of

money brokers. Depositing in Swiss Bank Account.i. Political stability ii. Stable currencyiii. Qualityiv. Neutralityv. Secrecy

Top 5 countries generating Black Money

Top 5 Scams

Impact

Slow progress of country Unequal distribution of money (poverty) Recession Illegal transfer of funds from India to foreign

countries Inflation Corruption

Measures to combat black money

Co-ordination with other countries Creation of awareness on the evil of black money Regulation of donation to political parties Transparent & accountable governance E – money You & I

Conclusion

Black money has created a big black hole in Indian Economy & entire burden is beared by the common man.

We Indians have to come forward to fight against corruption.

Let’s change the view , let’s make a move.

Thank You