Meaning of black money | Babel Free

Definitions

1. Income that is not reported to a government in order to evade taxes.
   uncountable
2. Money that is obtained illegally, especially that which circulates outside the formal financial system in the underworld.
   India, uncountable

Equivalents

Examples

“In India, the government faces the issue of combating black money stashed overseas.”

“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.”

“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.”

CEFR level