Essay On Black Money
Introduction:
black
money means money that is earned in an unjust way. It also refers to
various types of unaccounted money earned or gained due to smuggling, non-payment
of legal taxes, and misconduct of business, trade, and commerce. Earning money in
the most dishonest way is black money.
Its
menace: the black money menace has had strong domination over Bangladesh for more than two decades. The growth of
business all over the country and an orientation towards the free marketing system
of some goods and articles have brought the issue to the top priority in the
agenda of our policymakers. The black money economy is also referred to as a
paralleled economy and it works very seriously under the white economy of the
nation. Now Bangladesh has fallen a serious victim to it. The amount of black
money in Bangladesh is about 20% of our national income.
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Sources
of black money: there are some sources of black money in the country.
Illegal income earned from the sale of commodities is one of the sources because
the process is beyond the government’s controlled prices. To gain from the
sale of goods in a volume always exceeds the government quotes and regulations
with respect to the goods. Black money results from man’s tendency of
earning more, enjoy paralleled life, build high-rising buildings, and
rapaciousness. The living standard in western countries is high. The wealthy
Bangladeshis and middle-income generating people intend to cope with them
and as a result, they strive hard to increase their income by any means. It is
easy to meet up human needs but there is no way to satisfy their greed.
Everyone under the sun wishes to be happy and prosperous by hook or crook.
On the other hand, the taxation structure does not favour businessmen and
the corporate sectors as well. Political uncertainty, election, and corrupted
government officials perpetuate the causes which lead the generation to black
money.
Hindrances
to development: Black money is one of the hindrances to our national
income. It is a stumbling block to the process of economic reformation. It
extremely affects the social, economic, cultural, and political systems of the
country. It is a giant barrier to the healthy and overall development of
the nation. The black money earner is a national enemy. The black money earners
are held in very high esteem in society but they have no mortality, human
virtue, etc.
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Remedy:
the
remedy for black money includes – the appointment of special commissions for
seeking ideas on the nature, causes, and magnitude of solutions for black money;
steps for unearthing black money; no chance for smuggling and no way of saving
or evading income taxes; and frantic efforts for the control of black money in
future.
Its
influence: Black money has an influence over many things. A black
money earner does not care about anybody for anything. He takes challenges on his
neighbors over anything. He pays no respect to anyone in any case. To him, his
neighbor is a worshipping character.
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Conclusion: Black money is
a lapse of our society. Black money is illegal money earned in an illegal
way. It tells extremely about the economic development of the country.
