Advantages And Disadvantages Of Black Money

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• The ill-gotten money in the market results in all sorts of criminal activities that go on in the society including corruption of all sorts in the society. It encourages its illegal use especially during elections. The black money is used to support terrorist activities, which undermine even the security of the country. It is used to get illegal weapons in the hands of the groups of unsocial elements. The illegal money is squandered on large scale in clubs and hotels on all types of illegal activities including drug trafficking. Even murders are got done for political revenges where black money changes hands among the murderers and the people who engage these murderers to engage in these crime. It is said that money corrupts and the excess of it corrupts extremely. And it is more so when such excess money is in the form of black money. The lavish and ostentatious way the hoarders of black money live in India and the wasteful expenditure they indulge in celebrating their social, political and even religious functions is a social crime even though the law does not take cognizance of it.

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