black money

English

Pronunciation
  • Rhymes: -ʌni

Noun

black money (uncountable)

  1. Income that is not reported to a government in order to evade taxes.
    Synonym: dirty money
  2. (India) Money that is obtained illegally, especially that which circulates outside the formal financial system in the underworld. [from 19th c.]
    Synonyms: dirty money, (US) boodle
    Antonym: white money
    In India, the government faces the issue of combating black money stashed overseas.
    • 1973 August 9, “Demonetization Feared”, in The New York Times‎, →ISSN:
      Demonetization — or the withdrawal from use — was one of a package of measures recommended by a Government committee that investigated the problem of “black money” — money acquired through illegal transactions and kept hidden from tax authorities.
    • 2016 November 10, “Taking notes”, in The Economist‎, →ISSN:
      Mr Modi has implemented a flurry of schemes to flush out “black money”, the term Indians use for cash which is both unaccounted for and outside its formal financial system.

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