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Convertibility of Black money to white
 

Convertibility of Black money to white

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    Convertibility of Black money to white Convertibility of Black money to white Presentation Transcript

    • Convertibility of Black Money to White Money (Against) Group 8_B P Sudhindra Reddy Amit Chheda
    • Introduction
      • What is ‘Black Money’
      • Causes of Black Money
      • Consequences of the Black Money
      • Controlling the Black Money
    • What is Black Money?
      • Black money is essentially the currency used in ‘black economy’.
      • Black, shadow, underground, unobserved, unofficial, subterranean, unrecorded, informal, irregular, second, twilight, parallel – are all the synonyms used for the ‘shadow economy’.
      • ‘market based production of goods and services, whether legal or illegal, that escape detection in the official estimates of GDP’
    • Causes of Black Money
      • Corrupt Politicians & Bureaucrats
      • Complex Tax Structure
      • Intensity of Regulations
      • Criminal Activities
      • Inefficient & Corrupt I.T. & Vigilance Dept.
      • Declining Morale to Pay Taxes
    • Consequences of Black Money
      • Decrease in Govt. Revenues
      • Decrease in quality & quantity of Public Goods & Services
      • Higher Taxes & Inflation
      • Difficulty in Monetary & Fiscal Policy Formulation
      • Increase in Criminal Activities
    • Controlling the Black Money
      • Conversion from Black to White
        • Mauritius Route
        • Amnesty Schemes (VDIS)
        • Demonetising Higher Denomination Currency
        • Special Bonds
    • Controlling the Black Money
      • Prevention of Black Money
        • Proper Tax Structure (GST, VAT)
        • Simple Rules & Regulations
        • Use of e-Money
        • More Banking Transactions
        • Use of PAN & Identity Proofs
        • Efficient & Powerful I.T. & Vigilance Dept.
        • Awareness of Benefits of Tax Payment
    • Conclusion
      • Conversion of Black Money to White Money is a Short-term Symptom based Remedy, while the Prevention measures mentioned treat the Root Cause of the Black Money.
    • Thank You!