The definitive guide to South Asian lingo

Definition 1 of 1

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Noun.
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Definition

Black Money is an unfortunate but important component of India's economy. It is a commonly used term for unaccounted money that passes between parties unofficially.

Many large financial transactions in India have two components - the official amount *white" and unofficial amount "black".

Black money is technically illegal but very much part of the corruption culture prevalent across India, South Asia. For example a land sale will have Rs. 10 Lakhs (Rs 1 million) paid in white and Rs. 40 lakhs (Rs. 4 million) paid in black. The black component is off the books and no tax is paid. The parallel "black economy" of India runs into hundreds of billions of rupees. It is also a key part of election financing.

Usage

Sukh Ramji who is selling land to Devram tells him:
"Total price 3 Crore (300 Lakhs/30 million). Pay 50 lakhs in white. Balance settle separately"
Added 2011-08-19 by Impolitika

Root

Multiple

Region

All India

Categories

Money & Business

Related Terms

hawala
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