Question

what is black money? write the Cause of black money.​

Answer 1

Answer:

Black money is hidden from government authorities and is not reflected in the GDP of India, national income, etc. White money is money that is earned through legitimate means and is accounted for, for which income or other tax is paid.

Answer 2

Answer:

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Explanation:

Growth of the black economy causes regressive distribution of income in the society. When the black money grows faster, rich becomes richer and the poor become poorer. By way of concentration of income and wealth in few hands, the black money widens the gap between the rich and the poor.

Black money is hidden from government authorities and is not reflected in the GDP of India, national income, etc. White money is money that is earned through legitimate means and is accounted for, for which income or other tax is paid.

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