Black Money is not money that is black; it is money that is hidden from the government. Every one is supposed to pay taxes to the government according to their income. However, some people do not do so, or even if they do, they will not pay the full amount due from them. The government loses an enormous amount of money because of this, and so, black money harms our economy. It also increases the division between the rich and the poor. The rich live more luxurious lives with the money that they have hidden from the government in some way of other, while the poor are deprived of many welfare schemes because the government does not have enough money.
