It is difficult to mop up black money

The source of one’s earnings are usually authentic like employment or business. One portion of these go to the government. These are the norms all over the world and followed dutifully. However, in some countries, people do not like to part with their money. They falsify documents and conceal the money in hard to locate places – they choose banks where one can park his cash safely. These are unaccounted money and is known as black money. Switzerland is famous for its watches, the Alps and banks where it is not too difficult to open an account and store money and other valuables because those will be difficult to locate. It seems it is a global phenomenon and it is customary to refer to such holdings as ‘black money.’ Black is usually associated with evil – like black magic. Witches wear black clothes, and no one likes the black sheep in a family. However, the Men in Black was an exception – it was a Hollywood movie and dealt with Extra-terrestrials ETs. There was also a Bollywood movie of 2005 titled Black where Rani Mukherjee portrayed the role of a blind girl. To her the world was black. Amitabh Bachhan was also there.

To return to the subject of black money. It is a topic that can embarrass people in high places. Those in power in the government know about the existence of such unaccounted assets but are unable to lay hands on them. It would amount to stirring up the hornets’ nest. Therefore, they follow the policy of let sleeping dogs lie. In India, there was jubilation when BJP came to power. The new Prime Minister made an announcement on the subject but there has been no visible progress on the issue. Indian kitty in Swiss banks jumped 50% to over ₹30,000 crore in 2021

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