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).
39% Yes |
61% No |
36% Yes |
45% No |
2% Yes, and make India a tax haven by eliminating income taxes |
7% No, but punish citizens and foreign banks that hide black money |
6% No, only reduce taxes for low to middle class workers |
|
4% No, this would not bring black money back to India |
See how support for each position on “Black Money” has changed over time for 7.9k India voters.
Loading data...
Loading chart...
See how importance of “Black Money” has changed over time for 7.9k India voters.
Loading data...
Loading chart...
Explore other topics that are important to India voters.
@ISIDEWITH1yr1Y
Diversity training is any program designed to facilitate positive intergroup interaction, reduce prejudice and discrimination, and generally teach individuals who are different from others how to work together effectively. On April 22, 2022, Florida Governor DeSantis signed into law the “Individual…
@ISIDEWITH11yrs11Y
Australia currently has a progressive tax system whereby high income earners pay a higher percentage of tax than low income tax. A more progressive income tax system has been proposed as a tool towards reducing wealth inequality.