Question

General problems which government is facing with black money

Answer 1

In India, black money is funds earned on the black market, on which income and other taxes have not been paid. Also, the unaccounted money that is concealed from the tax administrator is called black money. The black money is accumulated by the criminals, smugglers, hoarders, tax-evaders and other anti-social elements of the society. Around 22000 crores of rupees are supposed[citation needed] to have been accumulated by the criminals for vested interests, though writ petitions in the supreme court estimate this to be even larger, at ₹90 crores.[1]