Real Devil of Our Nation
THE REAL DEVIL OF OUR NATION
The real devil of our nation is “Black money” is earned through illegal activity and, as such, is not taxed.
Recipients of black money must hide it, spend it only in the underground economy, or attempt to give it the appearance of legitimacy through illegal money laundering and corruptions. Before come to the point of corruption, we have to think about causes of corruption and also what are the results of corruption. This happens from root level to higher level. From root level, the barrier between regular money and black money is gradually increased because there is no limit for corruption in higher levels. It is pity to be like that in developing countries. In recent news, our country has the position in corruption between seventy and eighty. However, some persons till now identify this problem in our country to alert the people against this evil. Main Sources of Black Money:
1. Corruptions
2. Illegal Business
3. Hidden Income
Corruption:
Corruption in India is a major issue and adversely affects its economy.
Corruption may include many activities including bribery and embezzlement.
Government, or 'political', corruption occurs when an office-holder or other governmental employee acts in an official capacity for his or her own personal gain. Total corruption amount from 1948 to 2012 is approx. 199 trillion rupees. (3.5 trillion dollars)
Laws for anti-corruption:
1. The Prevention of Corruption Act, 1988
2. Prevention of Money Laundering Act, 2002
Illegal Business:
Illegal business is like smuggling, gambling, betting, etc. Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Smuggling is the illegal transportation of goods or persons, such as out of a building, into a prison, or across an international border, in violation of applicable laws or other regulations. Betting is the
The real devil of our nation is “Black money” is earned through illegal activity and, as such, is not taxed.
Recipients of black money must hide it, spend it only in the underground economy, or attempt to give it the appearance of legitimacy through illegal money laundering and corruptions. Before come to the point of corruption, we have to think about causes of corruption and also what are the results of corruption. This happens from root level to higher level. From root level, the barrier between regular money and black money is gradually increased because there is no limit for corruption in higher levels. It is pity to be like that in developing countries. In recent news, our country has the position in corruption between seventy and eighty. However, some persons till now identify this problem in our country to alert the people against this evil. Main Sources of Black Money:
1. Corruptions
2. Illegal Business
3. Hidden Income
Corruption:
Corruption in India is a major issue and adversely affects its economy.
Corruption may include many activities including bribery and embezzlement.
Government, or 'political', corruption occurs when an office-holder or other governmental employee acts in an official capacity for his or her own personal gain. Total corruption amount from 1948 to 2012 is approx. 199 trillion rupees. (3.5 trillion dollars)
Laws for anti-corruption:
1. The Prevention of Corruption Act, 1988
2. Prevention of Money Laundering Act, 2002
Illegal Business:
Illegal business is like smuggling, gambling, betting, etc. Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods. Smuggling is the illegal transportation of goods or persons, such as out of a building, into a prison, or across an international border, in violation of applicable laws or other regulations. Betting is the