Black money refers to money that is not fully legitimately the property of the 'owner'. A white paper on black money in India by the Government of India suggests two possible sources of black money in India. The first includes activities not permitted by the law, such as crime, drug trade, terrorism, and corruption, all of which are illegal in India. The second, more likely source is that the wealth may have been generated through a lawful activity but accumulated by failing to declare income and pay taxes. Some of this black money ends up in illicit financial flows across international borders, such as deposits in tax haven countries. According to a 2010 The Hindu article, unofficial estimates indicate that Indians had over US$1456 billion in black money stored in Swiss banks (approximately USD 1.4 trillion).
Statistics are shown for this demographic
Political party
Ideology
Response rates from 1.6k India voters.
54% Incentives |
46% Punishment |
39% Incentives |
41% Punishment |
7% Incentives, reducing excessive taxes will lower tax evasion |
6% Punishment, for both violators and foreign banks that hide money |
7% Incentives, give amnesty to violators who choose to disclose and bring their money back into India |
Trend of support over time for each answer from 1.6k India voters.
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Trend of how important this issue is for 1.6k India voters.
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Unique answers from India voters whose views went beyond the provided options.
@9WGMJDQ3mos3MO
Incentives, give amnesty from criminal charges provided a significant chunk of the amount brought back (around 50-60%) is retained by the government as tax.
@9JP8R2611mos11MO
Both should be used. Punishment for violators, and incentives for people who disclose and bring back the money
@8QCVXDF4yrs4Y
Too complex issue, one policy will have no effect.
@9CQB2PB2yrs2Y
This is a meaningless question.
