Composition | Black Money

These days, one of the big problems our country faces is black money. It's a major reason for the economic inequality we see, which leads to other problems in the country. There are a few things that cause this problem, like high taxes, expensive living costs, inflation, different tax rates, and the real estate market.

Controlling black money is really important because it's stopping our country from growing and developing. Here are some ways we can control this problem:

1. The government needs to make taxes fair and not make people feel burdened. If taxes are too high, people will try to avoid paying them.

2. The government should improve the process of collecting taxes. They should recognize and reward officials who work hard and take their job seriously. This will motivate others to do the same.

3. The government should work on controlling prices because that's also a reason why black money is generated and accumulated.

4. Public projects should be closely monitored to reduce their expenses.

5. Private sector investments should be effectively monitored too.

6. The government should take action against corrupt officials who contribute to black money.

7. Corruption in administration should be controlled at different levels.

8. The buying and selling of properties should be closely monitored by tax officials to make sure people aren't hiding black money.

9. Politicians, celebrities, senior civil servants, and media people should set a good example by paying their taxes.

10. Incentives should be given to those who voluntarily disclose their income.

11. Exchange rates should be realistic and reflect our position in the world economy.

The government has tried to tackle this problem with demonetization, but there's still a lot more to be done. People need to understand the importance of paying taxes and avoid hoarding black money. Every citizen's small contribution through taxes helps the country develop.