Although the spectre of black money has haunted our nation ever since Independence, it was only in 2013-14 that two political parties came forward and promised to strive for its total eradication. While the Aam Aadmi Party (AAP) headed by Arvind Kejriwal made a hue and cry over the issue of corruption, he did nothing significant towards fulfilling his promise. Meanwhile, the BJP-led National Democratic Alliance (NDA) made zero tolerance of this social and economic evil a key plank of its poll campaign. After winning the Lok Sabha elections in May 2014, the NDA government had initiated several commendable measures to dismantle the menace. And those initiatives have started bringing in positive results, albeit in modest ways.
Parallel Economy
The Union government’s fight against black money is not merely aimed at crippling the activities of the Opposition parties as may appear to an unenlightened member of the general public. The idea is to strike at the very roots of a parallel economy which bedevils the growth of the Indian economy and hampers harmonious social development. Together, black money and corruption constitute the mainstay of the parallel economy. Money laundering is another vile crime that makes the parallel economy viable. A popular misconception among the laymen is that the term black money pertains solely to the piles of cash illegitimately stashed away in overseas tax havens.
While such deposits made by corrupt politicians and unscrupulous industrialists, businesspeople, et al form the core of the problem, there are other forms and ways of generation of black money closer at home. Some of these are seemingly innocuous to a layman and yet highly condemnable as in the case of huge amounts of black money stashed away abroad. Members of the general populace and the business and trading communities that they patronise do not always declare all their sources of income and the volumes thereof. Nor do they pay tax on the undeclared income in clear violation of the extant rules.
On the domestic purchases, seldom is a bill or receipt demanded or issued. Income generated this way does not entail taxes. Sometimes, the consumer doesn’t have to pay the higher price or maximum retail price, which is inclusive of taxes. This indeed is a convenient way of doing business for both the seller and the buyer. Thousands of crores worth of business is carried out day in and day out without issuance of invoices or receipts. The film industry in India is a particularly glaring field flush with black money. Furthermore, several fields of economic activity in the unorganized sector slip through the tax net.
Politics and Black Money
Strange indeed are the ways of democracy. Money power plays a vital role in the fighting of elections to the legislatures. Prospective candidates are required to access the electorate and showcase their worth and mettle and superiority over the rival candidates. A massive campaigning exercise is undertaken to promote their candidature at enormous costs borne by the candidates themselves or their political parties. The funds for the publicity campaigns are usually generated by inviting contributions from different segments of the public – corporates and industrial houses, businesspeople and trading communities, and individual members of the public. The moneyed sections of the society that contribute to competing candidates from different political parties, prefer to maintain a low profile about their contributions for more reason than one.
Some may not want the ruling party or their rival party to know which parties they are supporting with contributions. Besides, they like to avoid taxes on the expenditure that goes into the making of these contributions as the payment is made from their reserves of undeclared income. On their part, parties do not want to reveal the identity of the donors. Huge amounts are donated and accepted with barely any record of the actual quantum of the contributions. Needless to mention, this is slush money used by political parties for the legitimate purpose of campaigning as well as for the bribing and buying of votes.
Corporates and industrial houses, as well as businessmen and trading communities, come under great pressure of political parties for generous contributions often in under-the-table transactions. Although there are statutory stipulations to curtail the extent of money spent by political parties on campaigning, violations of those stipulations in letter and spirit is not unheard of. How can a political party declare its expenses for the bribing of voters or on the other clearly inadmissible categories of expenditure such as the hiring of muscle power for browbeating rival candidates or buying off of weaker candidates?
Some parties sell tickets to aspiring candidates who wish to contest on their aegis and symbol and make vast sums of money in the process. Pay off time comes when they seek to forge an alliance with small regional parties or local chieftains with a mass base and following. Poll pacts are made and unmade on the strength of money power or the lack of it. Huge hoardings, street corner meetings and publicity blitzkriegs in the mainstream media (MSM) are essential requirements for every political party gearing up for the polls. In the current age of social media, loyal footsoldiers are hired to build up the image and reputation of the party leaders and slaying the character and image of rival party leaders. 
Post-poll Scenario
After the elections, when government formation becomes an uphill task on account of insufficient numbers, horse-trading begins. Pliable candidates are sought to be purchased from rival parties. Fence-sitters and frustrated members of its own fold who cannot be accommodated with ministerial berths or other cushy posts of power with scope for making money on the sly, are to be kept on a tight leash of greed to make them desist from switching their loyalty and crossing the floor. All this costs huge sums of money.
If the media reports that have appeared about such shady deals in the recent past in states like Karnataka are anything to go by, then thousands of crores worth of black money are in circulation. This is a clear indication that powerful leaders of parties with no scruples as well as some power brokers are sitting on mines of black money. It is a common occurrence that every party which faces a poll debacle accuses the winning party of employing dubious means for its victory, which is a euphemism for the buying of votes or the rigging of the electoral machinery with the help of complicit officials.
Will and Resilience
The quantum of black money in the political domain is practically inestimable and lies in the realm of speculation. In fact, before and after an election, most political parties are busy building up their reserves of black money for financing their activities during the electoral jamboree. If a party like the BJP still manages to win a landslide majority in elections against the tantalising money power, it is on the sheer strength of its sound policies and programs and the flawless reputation and positive image of its leaders.
Having won the electoral battle, lately, the BJP has been bracing itself for breaking the backbone of the evil of black money. Meanwhile, investigation outcomes against some high-profile money launderers have shown an encouraging trend. Although India has still a long way to go, the BJP-led NDA government has the will to rid our nation of black money and break the latter’s stranglehold over politics in the new India that is in the making.
There is scope of making political contributions by people to political parties more transparent and electoral bonds are not completely reliable to wipe away corruption from India’s politics.
With BJP in power, now at least government departments fear of reprisal for any misdeed. During the Congress era, they acted with impunity since money was distributed from top to bottom ranks.
Digitisation has curbed corruption to a great extent. From regional transport offices to revenue departments, digitisation is preventing people from getting entrapped in the clutches of corrupt officials.
Narendra Modi promised people of giving back a share from the black money that is held by Indians in foreign bank accounts? Has he made good on that promise?
Indian banks are today facing a crisis situation as the nexus of bank management, politicians and businessmen grabbed loans which have been overdue since long. They must be booked for conspiracy.
Big leaders of Congress are now under arrest and being probed for corruption and fraud cases. Why was there no action against them when UPA was in power. At least BJP is acting bold and decisive.
PM Modi should overhaul the bureaucratic landscape of India so that officials neither take bribes nor allow their political superiors take it. Unless administration is improved, nothing can change.
The main reason India is still developing and not developed is because much of the wealth has been looted by corrupt people and it never came into mainstream economy of India.
The AAP party has diverted from its campaign of being an anti-corruption crusade to being a populist government that is now giving free power and water supply just to lure voters.
There are official figures from various sources that black money in India runs into billions of dollars. Who allowed the crony capitalists and politicians to stash this amount? Was Congress not responsible?
Hi, all the time i used to check weblog posts here in the early hours in the break of day, because i enjoy to learn more and more.
Very good information. Lucky me I ran across your blog by accident
Had a look through the site, it looks great and will be a big help in social and economic issues.
So wonderful to discover someone with some unique thoughts on this issue.
I am very happy to find this web site. I wanted to thank you for your time due to this fantastic read. I definitely liked every little bit of it and i also have you saved to fav to see new information in your site.
Your write-up is very informatory hope you are sure with credentials of the matter.
Hello, its my first time to commenting any post. But I could not stop myself from commenting on reading through such a sensible piece of writing.
I am regular visitor, how are you everybody. This post posted at this web page is really pleasant.
Hello my friend. I wish to say that this article is awesome, nice written and include almost all important infos. I would like to peer extra posts like this .
Thank you, I have just been looking for info about this subject for ages and yours is the best I have found out till now.
Good article. We will be linking to this particularly great post on our site.
Greetings. Very useful advice in this particular post. it is the little changes which will make the most important changes.Thanks for sharing.
I want to to thank you for this fantastic read.. I absolutely enjoyed every little bit of it.
I totally appreciate your insights. Keep rising.
I must compliment you on the level of research and knowledge involved in this article
Quality articles or reviews is the key to attract the users to go to see the web site, that is what this web page is providing.
Excellent goods from you, man. I have understand your stuff previous too and You are just too magnificent.
Excellent, what a webpage it is. This website provides useful information to us, keep it up.
Hello there. This blog post could not be written much better. Going through this article reminds me of my previous roommate. He constantly kept talking about this. I will send this information to him. Fairly certain he will have a very good read. I appreciate you for sharing.
I was able to find good advice from your blog articles.
I blog quite often and I seriously thank you for your information.
Good post. I am dealing with many of these issues as well..
You ought to take part in a contest for one of the most useful blogs online. I am going to highly recommend this blog.
I recently had a good fortune of reading your article it is really well written with updated information. I will be returning here often now.
Great task on this publish. I enjoy the way you displayed your info as well as the way a person achieved it significant and also obvious to be aware of. Thanks a great deal.
I could not refrain from commenting. Exceptionally well written.
An enlightening work.
Hi there. I simply would like to give you a big thumbs up for your great information you have got right here on this post. I will be returning to your website for more soon.
Your article has truly peaked my interest.
Can I just say what a relief to discover someone that actually understands what they are talking about over the internet. You definitely understand how to bring a problem to light and make it important. More and more people really need to read this and understand this side of the story. I was surprised that you aren’t more popular since you most certainly possess the gift.
Bookmarked.., I really like your web site.
Thanks for the marvelous posting. I genuinely enjoyed reading it, you are a great author. I will always bookmark your blog and will come back very soon. I want to encourage that you continue your great work,have a nice day.
The site looks absolutely fantastic. Well done to all involved. Very professional & the navigation is great too. Cheers.
Your article will surely be a great help to a lot of people. An outstanding blend of thinking and good writing.
I can not wait to read much more from you. This is really a tremendous site.
Very useful advice in this particular article.
Good day. I just would like to give you a big thumbs up for your excellent information you have right here on this post. I will be coming back to your blog for more soon.
Your article is an impression of your high thinking and great perspective
Appreciate this post. Will try it out.
You are to be commended for your excellent writing skills.Hope to see more of your flawless skills soon.
I wonder how come you get to know that this is the exact information that I have been looking for. Thanks a ton man.
I am often to blogging and i really appreciate your content. The article has actually peaks my interest. I am going to bookmark your web site and keep checking for brand new information.
Hello there. I could have sworn I have been to your blog before but after browsing through a few of the posts I realized it is new to me. Regardless, I am certainly happy I stumbled upon it and I will be book-marking it and checking back r?gularly.
Great web site you have got here.. it is difficult to find high-quality writing like yours nowadays. I truly appreciate people like you. Take care..
Looking forward to read more of your stuff.
Great article. Keep writing such kind of information on your site. Im really impressed by your blog.
Fantastic put up, very informative. I wonder why the opposite experts of this sector do not understand this. You must continue your writing. I am confident, you have a huge readers base already.
Thanks for that, the site looks fantastic and I am sure will be a great service to both locals and visitors.
I look forward to reading your next informative work soon. Thank You.
Thank you for informing about this particular subject. Very informative and helpful
I wanted to thank you for this fantastic read.. I absolutely enjoyed every bit of it. I have got you book marked to check out new stuff you post
Very soon this web page will be famous among all blogging and site-building users, due to it is pleasant articles
I was inspired by reading your thoughts. And I shall surely be coming back soon to see more of your work.
This is a jaw-dropping information. Well done on your research and presentation.
Ahaa, its pleasant dialogue about this piece of writing at this place at this weblog, I have read all that, so at this time me also commenting here.
Hi,That nice post Thanks
An outstanding share.
Absolutely wonderful, well done everyone, what a great achievement. Here is to the future and success for everyone. Thank you all for your hard work, we know it will be ongoing and trust that you will get the appreciation and credit of putting such brilliant articles on the worldwide web. Looking forward to seeing it grow.
Great delivery. Sound arguments. Keep up the amazing spirit.
There is certainly a lot to know about this issue. I love all of the points you have made
I quite like reading an article that can make men and women think. Also, thank you for permitting me to comment.
Very good post. I absolutely love this site. Stick with it.
What I have seen so far is brilliant and everyone involved should be congratulated. I can see me spending the rest of the evening perusing the site. Just when I thought I would like an early night.
A masterpiece.
I read this article completely about the comparison of most up-to-date and preceding technologies, it is remarkable article.
Just wanted to say how much we appreciate the tremendous amount of hard work and effort you all put in to producing this website. It is a great credit to everyone and I am sure will be a great success.
I really love your website.. Excellent colors & theme.
Very descriptive article. I enjoyed it a lot. Waiting to see next article soon.
After looking into a handful of the blog articles on your website, I seriously like your technique of writing a blog. I added it to my bookmark site list and will be checking back in the near future.
I just had to drop you a line to let you know that John and I think that the website is BRILLIANT……………………… Well done.
Hello there, you have done an incredible job. I will certainly digg it and personally suggest to my friends.
A clear and a thought provoking article. Writing at its best.
Great article. I am facing some of these issues as well..