Question

2 minutes speech on black money

Answer 1

Ladies and gentlemen, I wish to express my gratitude to the organisers for giving me the opportunity to speak on a burning issue that is gnawing at the foundations of our economy at a very fast pace.

Black money is ill-gotten wealth which is generated everyday in every corner of our great country, mostly through bribes and tax evasion. The policemen, bureaucrats, low level Government servants and so on take bribes in cash for doing routine jobs for which they are paid a salary. Sometimes, for getting citizenship documents, like Aadhar Cards, EPIC cards and Passports one has to grease the concerned officials' palms. In trade and commerce, goods and services are traded in cash without payment of the applicable taxes and duties. Unless we get rid of these practices, more and more black money will be generated and the parallel economy will gradually overtake our real economy.

The major step taken by the Government of going digital and encouraging people to make all payments through the electronic mechanism or by cheques / bank drafts shall augur well for our economy in the long run. So, let us all adopt these mechanisms for our transactions and bid goodbye to black money.