BLACK MONEY

Black economy is also named as underground economy. It is called as black economy because it won’t stick to the rules of taxation and trade. The other names of black money are shadow economy and parallel economy. It is also called as underdog or black market. Many activities takes place in the region of black economy starting from shoes to guns. This black economy is almost increasing in every country. The main general factors that result in black economy in many countries are corruption, legal monopolies, and certain types or amounts of regulations. Economists strive hard to measure accurately to estimate the size of black economy. The money which changes hands in such an economy are never recorded. And no taxes are ever paid in the black economy.