Black money in India
By: Y.Jagannatham | 23-Feb-2010 Reply | Forward The role of unaccounted money or black money in inflation in the country is not being recognized.A minimum amount of Rs100,000 crore is being created as black money inside the country every year. We all contribute to the growth of black money in all real estate transactions,buying and selling products without bills,tax evasion,receiving remuneration as professionals avoiding full receipt of accounting and all unscrupulous financial transactions.Late Prof.Madhu Dandavate used to ask a black money unearthing scheme in every budget.But he died without materialization of such a Scheme.Several years ago ,if one cares to remember United Front Government brought out a Scheme to unearth black money in the country. Members of Parliament should try and get a Scheme to bring out the black money in the country and help the growth of economy in real terms.
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