It is - as per certain provisions of worldwide taxlaws. But why is it black? And who made it so?
The use of the word "black" is a metaphor for anything that does not fall in the realm of a normal, bright side of life. For example , we have black magic - type of magic that intends to thrive on the darker side of life. But how do we codify black money? And is money ever white?
Money is never black so long as it is classified under "acceptable" category. You pay money for groceries - acceptable, you pay money for your plane tickets - acceptable, but you pay money which is not yours - unacceptable, you pay money for a BMW but under-invoice it - unacceptable. So black money is essentially that money which represents wealth sprung up from the darker side of economy or from the darker side of life . Precisely - black money is generated from the more hideous side of a human being - the desire to cheat, the desire to usurp undue gains, the desire to hide & the desire to engage in criminal activity.
Coming to the second question - is money ever white? How do you know that the 1000rs note that you are holding in your wallet has not passed through the hands of a criminal or a tax evader or a money launderer? How do you know that the bank in which you have deposited your money, does not hold unaccounted wealth of atleast a thousand account holders? So is all money black in totality? To be fair to the black money holders - the answer is - yes.
Consider the salaried class. It gets money from a legally acceptable route. But the corporate for which they work may not have earned its profits through the lawful means. I do not want to speak about the business class because any business has to have a darker side to it.
Do we really need to catch black money? Yes. Because societies are formed on the foundations of ethics. Humans need ethics to ensure continuity of their species. The day we encourage black money, we would be encouraging unethical practices which in the long run will create a criminal-dominated society. And surely we want our children to grow up in a place where greatness is acquired through sincere efforts & not through killing each other.
Then why hasnt the black money been captured so far? Mainly, our law enforcement agencies need to have the required teeth - more manpower, more technology skills, more space & time to investigate and establish fully the genuineness of any transaction. Most importantly, it is the collective will of everyone - businessmen, chaprasi, middle class, elite class & the Govt - which is required to reduce black money from the system.
Money doesnt grow on trees. But black money certainly does & we dont need it.
The use of the word "black" is a metaphor for anything that does not fall in the realm of a normal, bright side of life. For example , we have black magic - type of magic that intends to thrive on the darker side of life. But how do we codify black money? And is money ever white?
Money is never black so long as it is classified under "acceptable" category. You pay money for groceries - acceptable, you pay money for your plane tickets - acceptable, but you pay money which is not yours - unacceptable, you pay money for a BMW but under-invoice it - unacceptable. So black money is essentially that money which represents wealth sprung up from the darker side of economy or from the darker side of life . Precisely - black money is generated from the more hideous side of a human being - the desire to cheat, the desire to usurp undue gains, the desire to hide & the desire to engage in criminal activity.
Coming to the second question - is money ever white? How do you know that the 1000rs note that you are holding in your wallet has not passed through the hands of a criminal or a tax evader or a money launderer? How do you know that the bank in which you have deposited your money, does not hold unaccounted wealth of atleast a thousand account holders? So is all money black in totality? To be fair to the black money holders - the answer is - yes.
Consider the salaried class. It gets money from a legally acceptable route. But the corporate for which they work may not have earned its profits through the lawful means. I do not want to speak about the business class because any business has to have a darker side to it.
Do we really need to catch black money? Yes. Because societies are formed on the foundations of ethics. Humans need ethics to ensure continuity of their species. The day we encourage black money, we would be encouraging unethical practices which in the long run will create a criminal-dominated society. And surely we want our children to grow up in a place where greatness is acquired through sincere efforts & not through killing each other.
Then why hasnt the black money been captured so far? Mainly, our law enforcement agencies need to have the required teeth - more manpower, more technology skills, more space & time to investigate and establish fully the genuineness of any transaction. Most importantly, it is the collective will of everyone - businessmen, chaprasi, middle class, elite class & the Govt - which is required to reduce black money from the system.
Money doesnt grow on trees. But black money certainly does & we dont need it.
