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India at the 1998 Asian Games

2023-09-28T11:52:58Z

Thehashmi: remove pipe

{{Use dmy dates|date=September 2021}}
{{Infobox country at games
| NOC = IND
| NOCname = [[Indian Olympic Association]]
| oldcode =
| year = 1998
| date =
| games = Asian Games
| location = [[Bangkok]]
| competitors =
| sports =
| flagbearer =
| officials =
| gold = 7
| silver = 11
| bronze = 17
| rank = 9
| appearances = auto
| seealso =
| website =
}}

'''India''' competed at the '''[[1998 Asian Games]]''' held in [[Bangkok]], Thailand. India ranked 9th with 7 Gold medals, 11 Silver medals and 17 Bronze medals.<ref>{{cite web| url=http://www.sadec.com/Asiad98/medal.html| title=XIII Asian Games, Bangkok (ASIAD 98)| access-date=15 October 2010| archive-url=https://web.archive.org/web/20141020033441/http://www.sadec.com/Asiad98/medal.html| archive-date=20 October 2014| url-status=dead}}</ref>

==Medals by sport==
{| class="wikitable" style="text-align:center;"
|-
! width=200|Sport
|bgcolor=gold width=60|'''Gold''' || bgcolor=silver width=60|'''Silver''' || bgcolor=#cc9966 width=60|'''Bronze'''
! width=60|Total
|-
|align=left| [[Athletics at the 1998 Asian Games|Athletics]] || 2 || 6 || 7 || 15
|-
|align=left| [[Cue sports at the 1998 Asian Games|Cue Sports]] || 2 || 1 || 1 || 4
|-
|align=left| [[Boxing at the 1998 Asian Games|Boxing]] || 1 || 0 || 1 || 2
|-
|align=left| [[Equestrian at the 1998 Asian Games|Equestrian]] || 0 || 0 || 1 || 1
|-
|align=left| [[Field hockey at the 1998 Asian Games|Hockey]] || 1 || 1 || 0 || 2
|-
|align=left| [[Kabaddi at the 1998 Asian Games|Kabaddi]] || 1 || 0 || 0 || 1
|-
|align=left| [[Rowing at the 1998 Asian Games|Rowing]] || 0 || 0 || 2 || 2
|-
|align=left| [[Shooting at the 1998 Asian Games|Shooting]] || 0 || 2 || 1 || 3
|-
|align=left| [[Tennis at the 1998 Asian Games|Tennis]] || 0 || 0 || 4 || 4
|-
|align=left| [[Weightlifting at the 1998 Asian Games|Weightlifting]] || 0 || 1 || 0 || 1
|-

! Total || 7 || 11 || 17 || 35
|}

==Medalists==

===Gold (7) ===
{| class="wikitable"
|-
!|Medal
!|Sportsperson
!|Games
!|Event
|-
||{{Gold1}}
|| Jyotirmoy Sikdhar
|| Athletics
|| 1500 m
|-
||{{Gold1}}
|| [[Jyotirmoy Sikdhar]]
|| Athletics
|| 800 m
|-
||{{Gold1}}
|| [[Geet Sethi]] and [[Ashok Shandilya]] || [[Billiards]] || Doubles
|-
||{{Gold1}}
|| [[Ashok Shandilya]] || [[Billiards]] || Singles
|-
||{{Gold1}}
|| Ngangom [[Dingko Singh]] || [[Boxing]] || 54 kg
|-
||{{Gold1}} || [[India men's national field hockey team|Hockey team]] || [[Field Hockey|Hockey]] || Men
|-
||{{Gold1}}
|| [[India national kabaddi team|Kabaddi team]] || [[Kabaddi]] || Men
|}

===Silver (11)===

===Bronze (17)===
{{Empty section|date=January 2011}}

==Athletics==
===Men===

Track & road events
{| class="wikitable" style="text-align:center; font-size:90%"
|-
!rowspan=2|Athletes
!rowspan=2|Event
!colspan=2|Heats
!colspan=2|Semifinal
!colspan=2|Final
|-
!Result
!Rank
!Result
!Rank
!Result
!Rank
|-
|align=left|[[Paramjit Singh (sprinter)|Paramjit Singh]]
|align=left|[[Athletics at the 1998 Asian Games – Men's 400 metres|400 m]]
|46.68
|1 '''Q'''
|46.37
|2 '''Q'''
|45.93
|{{bronze3}}
|-
|align=left rowspan=2|[[Bahadur Prasad]]
|align=left|[[Athletics at the 1998 Asian Games – Men's 1500 metres|1500 m]]
|3:51.00
|3 '''Q'''
|colspan="2" {{n/a}}
|3:41.58
|{{bronze3}}
|-
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Men's 5000 metres|5000 m]]
|colspan="4" rowspan=2 {{n/a}}
|14:48.85
|8
|-
|align=left rowspan=2|[[Gulab Chand]]
|13:59.20
|4
|-
|align=left |[[Athletics at the 1998 Asian Games – Men's 10,000 metres|10000 m]]
|colspan="4" {{n/a}}
|29:10.53
|{{bronze3}}
|-
|[[Lijo David Thottan]]<br /> [[Purukottam Ramachandran]] <br />[[Paramjit Singh (sprinter)|Paramjit Singh]] <br />[[Jata Shankar]]
|[[Athletics at the 1998 Asian Games – Men's 400 metres hurdles|4 × 400 m relay]]
|3:04.86
|2 '''Q'''
|colspan="2" {{n/a}}
|3:02.62 SB
|{{silver2}}
|-
|}

Field events
{| class="wikitable" style="text-align:center; font-size:90%"
|-
!rowspan=2|Athletes
!rowspan=2|Event
!colspan=2|Final
|-
!Result
!Rank
|-
|align=left|[[Anil Kumar]]
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Men's discus throw|Discus Throw]]
|58.43
|{{silver2}}
|-
|align=left|[[Ajit Bhaduria]]
|54.03
|6
|-
|align=left|[[Shakti Singh (athlete)|Shakti Singh]]
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Men's shot put|Shot Put]]
|18.81
|{{silver2}}
|-
|align=left|[[Bahadur Singh Sagoo]]
|18.21
|4
|-
|align=left|[[Satbir Singh (athlete)|Satbir Singh]]
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Men's javelin throw|Javelin Throw]]
|75.21
|6
|-
|align=left|[[Jagdish Bishnoi]]
|72.03
|8
|-
|}

=== Women ===
Track & road events
{| class="wikitable" style="text-align:center; font-size:90%"
|-
!rowspan=2|Athletes
!rowspan=2|Event
!colspan=2|Heats
!colspan=2|Semifinal
!colspan=2|Final
|-
!Result
!Rank
!Result
!Rank
!Result
!Rank
|-
|align=left|[[Rachita Mistry]]
|align=left|[[Athletics at the 1998 Asian Games – Women's 100 metres|100 m]]
|11.46
|2'''Q'''
|colspan=2 {{n/a}}
|11.41
|{{bronze3}}
|-
|align=left rowspan=2|[[P.T. Usha]]
|align=left|[[Athletics at the 1998 Asian Games – Women's 200 metres|200 m]]
|24.27
|4
|colspan=4|did not advance
|-
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Women's 400 metres|400 m]]
|54.63
|4 '''Q'''
|rowspan=2 colspan="2" {{n/a}}
|54.37
|6
|-
|align=left rowspan=2|[[Rosa Kutty]]
|54.06
|1 '''Q'''
|54.55
|4
|-
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Women's 800 metres|800 m]]
|2.05.77
|1 '''Q'''
|rowspan=2 colspan="2" {{n/a}}
|2.03.00
|{{silver2}}
|-
|align=left rowspan=2|[[Jyotirmoyee Sikdar]]
|2:07.41
|1 '''Q'''
|2.01.00
|{{gold1}}
|-
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Women's 1500 metres|1500 m]]
|rowspan=2 colspan="4" {{n/a}}
|4:12.81
|{{gold1}}
|-
|align=left rowspan=2|[[Sunita Rani]]
|4:13.66
|{{bronze3}}
|-
|align=left|[[Athletics at the 1998 Asian Games – Women's 5000 metres|5000 m]]
|colspan="4" {{n/a}}
|15:54.47
|{{silver2}}
|-
|align=left|[[Rachita Mistry]] <br />[[P.T. Usha]]<br /> [[Valdivel Jayalakshmi]]<br /> [[E.B. Shyla]] <br />
|align=left|[[Athletics at the 1998 Asian Games – Women's 4 × 100 metres relay|4 × 100 m Relay]]
|colspan=4 {{n/a}}
|44.77
|4
|-
|align=left|[[Jincy Phillip]] <br />[[Jyotirmoyee Sikdar]]<br /> [[Rosa Kutty]]<br /> [[K.M. Beenamol]] <br />
|align=left|[[Athletics at the 1998 Asian Games – Women's 4 × 400 metres relay|4 × 400 m Relay]]
|colspan=4 {{n/a}}
|3:32.20
|{{silver2}}
|-
|}

Field events
{| class="wikitable" style="text-align:center; font-size:90%"
|-
!rowspan=2|Athletes
!rowspan=2|Event
!colspan=2|Final
|-
!Result
!Rank
|-
|align=left|[[Neelam Jaswant Singh]]
|align=left rowspan=2|[[Athletics at the 1998 Asian Games – Women's discus throw|Discus Throw]]
|55.09
|{{bronze3}}
|-
|align=left|[[Swarnjeet Kaur]]
|51.46
|4
|-
|align=left|[[Gurmeet Kaur]]
|align=left|[[Athletics at the 1998 Asian Games – Women's javelin throw|Javelin Throw]]
|59.00
|{{bronze3}}
|-
|align=left|[[Lekha Thomas]]
|align=left|[[Athletics at the 1998 Asian Games – Women's triple jump|Triple Jump]]
|13.05
|9
|}

==Medal Tally==
{| class=wikitable
|- style="background:#efefef;"
! '''Rank'''
! '''NOC'''
! style="background:gold;"|''' Gold '''
! style="background:silver;"|'''Silver'''
! style="background:#c96;"|'''Bronze'''
! '''Total '''
|- style="text-align:center;"
|9||{{IND}} || 7 || 11 || 17 || 35
|}

==Football==
===Men===
====Team====
Coach: [[Syed Nayeemuddin]]

{{National football squad start (no caps)}}
{{National football squad player (no caps)|no=1|pos=GK|name=[[Juje Siddi]]|age={{Birth date and age2|df=yes|1998|12|6|1973|1|15}} |club=[[Salgaocar FC|Salgaocar]]|clubnat=IND}}
{{National football squad player (no caps)|no=2|pos=DF|name=[[K. V. Dhanesh]]|age={{Birth date and age2|df=yes|1998|12|6|1973|2|13}} |club=[[FC Kochin|Kochin]]|clubnat=IND}}
{{National football squad player (no caps)|no=3|pos=DF|name=[[Franky Barreto]]|age= |club=[[SC East Bengal|East Bengal]]|clubnat=IND}}
{{National football squad player (no caps)|no=4|pos=DF|name=[[Roberto Fernandez (footballer, born 1971)|Roberto Fernandez]]|age={{Birth date and age2|df=yes|1998|12|6|1971|11|2}} |club=[[Salgaocar FC|Salgaocar]]|clubnat=IND}}
{{National football squad player (no caps)|no=5|pos=DF|name=[[Jiju Jacob]]|age={{Birth date and age2|df=yes|1998|12|6|1967|12|25}} |club=[[SBI Kerala (football team)|State Bank of Travancore]]|clubnat=IND}}
{{National football squad player (no caps)|no=6|pos=MF|name=[[Shanmugam Venkatesh]]|age={{Birth date and age2|df=yes|1998|12|6|1978|11|21}} |club=[[Salgaocar FC|Salgaocar]]|clubnat=IND}}
{{National football squad player (no caps)|no=7|pos=MF|name=[[Basudeb Mondal]]|age={{Birth date and age2|df=yes|1998|12|6|1974|7|6}} |club=[[SC East Bengal|East Bengal]]|clubnat=IND}}
{{National football squad player (no caps)|no=8|pos=FW|name=[[Syed Sabir Pasha]]|age={{Birth date and age2|df=yes|1998|12|6|1972|11|5}} |club=[[Indian Bank Recreational Club|Indian Bank]]|clubnat=IND}}
{{National football squad player (no caps)|no=9|pos=FW|name=[[Raman Vijayan]]|age={{Birth date and age2|df=yes|1998|12|6|1973|6|4}} |club=[[SC East Bengal|East Bengal]]|clubnat=IND}}
{{National football squad player (no caps)|no=10|pos=FW|name=[[I. M. Vijayan]]|age={{Birth date and age2|df=yes|1998|12|6|1969|4|25}} |club=[[Mohun Bagan A.C.|Mohun Bagan]]|clubnat=IND}}
{{National football squad player (no caps)|no=11|pos=MF|name=[[Jo Paul Ancheri]]|age={{Birth date and age2|df=yes|1998|12|6|1975|8|2}} |club=[[Mohun Bagan A.C.|Mohun Bagan]]|clubnat=IND}}
{{National football squad player (no caps)|no=12|pos=MF|name=[[Debjit Ghosh]]|age={{Birth date and age2|df=yes|1998|12|6|1974|2|23}} |club=[[Mohun Bagan A.C.|Mohun Bagan]]|clubnat=IND}}
{{National football squad player (no caps)|no=13|pos=GK|name=[[Feroz Sherif]]|age={{Birth date and age2|df=yes|1998|12|6|1971|5|22}} |club=[[SBI Kerala (football team)|State Bank of Travancore]]|clubnat=IND}}
{{National football squad player (no caps)|no=14|pos=MF|name=[[Carlton Chapman]]|age={{Birth date and age2|df=yes|1998|12|6|1971|4|13}} |club=[[SC East Bengal|East Bengal]]|clubnat=IND}}
{{National football squad player (no caps)|no=15|pos=FW|name=[[Bhaichung Bhutia]]|age={{Birth date and age2|df=yes|1998|12|6|1976|12|15}} |club=[[SC East Bengal|East Bengal]]|clubnat=IND}}
{{National football squad player (no caps)|no=16|pos=DF|name=[[Anit Ghosh]]|age={{Birth date and age2|df=yes|1998|12|6|1977|3|24}} |club=[[SC East Bengal|East Bengal]]|clubnat=IND}}
{{National football squad player (no caps)|no=17|pos=FW|name=[[Abdul Khalique]]|age= |club=[[Bengal Mumbai FC|Bengal Mumbai]]|clubnat=IND}}
{{National football squad player (no caps)|no=18|pos=MF|name=[[Tushar Rakshit]]|age={{Birth date and age2|df=yes|1998|12|6|1968|2|4}} |club=[[SC East Bengal|East Bengal]]|clubnat=IND}}
{{National football squad player (no caps)|no=19|pos=MF|name=[[Shamsi Reza]]|age= |club=[[Mahindra United F.C.|Mahindra & Mahindra]]|clubnat=IND}}
{{National football squad player (no caps)|no=21|pos=GK|name=[[Hemanta Dora]]|age={{Birth date and age2|df=yes|1998|12|6|1973|12|4}} |club=[[Mohun Bagan A.C.|Mohun Bagan]]|clubnat=IND}}
{{National football squad end}}

====Preliminary round====
<section begin=C />{{#invoke:sports table|main|style=WDL
|team1=JPN|name_JPN={{fb|JPN|1947}}
|team2=IND|name_IND={{fb|IND}}
|team3=NEP|name_NEP={{fb|NEP}}
|win_JPN=2|draw_JPN=0|loss_JPN=0|gf_JPN=6|ga_JPN=0
|win_IND=1|draw_IND=0|loss_IND=1|gf_IND=1|ga_IND=1
|win_NEP=0|draw_NEP=0|loss_NEP=2|gf_NEP=0|ga_NEP=6
|col_A=#ccffcc
|result1=A|result2=A
|update=complete|source=[https://www.rsssf.org/tablesa/asgames98.html RSSSF]
}}<section end=C />

{{football box
|date=3 December
|time= 15:30
|team1={{fb-rt|JPN|1947}}
|score=1–0
|team2={{fb|IND}}
|goals1=[[Kenji Fukuda|Fukuda]] {{goal|55}}
|goals2=
|stadium=[[Trang Municipality Stadium|Trang Stadium]], [[Trang, Thailand|Trang]]
}}
----
{{football box
|date=5 December
|time= 15:30
|team1={{fb-rt|IND}}
|score=1–0
|team2={{fb|NEP}}
|goals1=[[Carlton Chapman|Chapman]] {{goal|46}}
|goals2=
|stadium=[[Trang Municipality Stadium|Trang Stadium]], [[Trang, Thailand|Trang]]
}}

====Second round====

<section begin=S1 />{{#invoke:sports table|main|style=WDL
|team1=UZB|name_UZB={{fb|UZB}}
|team2=TKM|name_TKM={{fb|TKM|1997}}
|team3=PRK|name_PRK={{fb|PRK}}
|team4=IND|name_IND={{fb|IND}}
|win_UZB=2|draw_UZB=1|loss_UZB=0|gf_UZB=7|ga_UZB=1
|win_TKM=1|draw_TKM=2|loss_TKM=0|gf_TKM=5|ga_TKM=4
|win_PRK=1|draw_PRK=1|loss_PRK=1|gf_PRK=3|ga_PRK=5
|win_IND=0|draw_IND=0|loss_IND=3|gf_IND=2|ga_IND=7
|col_A=#ccffcc
|result1=A|result2=A
|update=complete|source=[https://www.rsssf.org/tablesa/asgames98.html RSSSF]
}}<section end=S1 />
{{football box
|date=7 December
|time= 15:00
|team1={{fb-rt|TKM|1997}}
|score=3–2
|team2={{fb|IND}}
|goals1=[[Dmitriý Neželew|Neželew]] {{goal|39}}<br />[[Muslim Agaýew|Agaýew]] {{goal|49}}<br />[[Igor Kislov|Kislow]] {{goal|74}}
|goals2=[[I. M. Vijayan|Vijayan]] {{goal|83}}<br />[[Tushar Rakshit|Rakshit]] {{goal|87}}
|stadium=[[Supachalasai Stadium]], [[Bangkok]]
}}
----
{{football box
|date=9 December
|time= 17:00
|team1={{fb-rt|IND}}
|score=0–2
|team2={{fb|UZB}}
|goals1=
|goals2=[[Igor Shkvyrin|Shkvyrin]] {{goal|35}}<br />[[Shuhrat Rahmonqulov|Rahmonqulov]] {{goal|49}}
|stadium=[[Supachalasai Stadium]], [[Bangkok]]
}}
----
{{football box
|date=11 December
|time= 15:00
|team1={{fb-rt|IND}}
|score=0–2
|team2={{fb|PRK}}
|goals1=
|goals2=[[So Min-chol]] {{goal|11}}<br />[[Ju Song-il]] {{goal|73}}
|stadium=[[Supachalasai Stadium]], [[Bangkok]]
}}

===Women===
Coach: [[S. Arumainayagam]]<ref>{{cite web |title=IOA finalises 22 disciplines for Asiad |url=https://indianexpress.com/article/news-archive/ioa-finalises-22-disciplines-for-asiad/lite/ |publisher=[[The Indian Express]] |access-date=20 November 2020 |date=11 November 1998}}</ref>

{{National football squad start (no caps)}}
{{National football squad player (no caps)|no=|pos=MF|name=[[Bentla D'Coth]]|age={{birth date and age2|df=yes|1998|12|6|1969|5|29}} |club= }}
{{National football squad player (no caps)|no=|pos=GK|name=[[Binshori Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=DF|name=[[Chaitali Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=DF|name=[[Chaoba Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=DF|name=[[Khambi Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=DF|name=[[Kumari Devi (footballer)|Kumari Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=FW|name=[[Lokeshwari Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=MF|name=[[Oinam Bembem Devi]]|age={{birth date and age2|df=yes|1998|12|6|1980|3|1}} |club= }}
{{National football squad player (no caps)|no=|pos=GK|name=[[Rabita Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=FW|name=[[S. Rani Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=FW|name=[[Thongam Tababi Devi|Tababi Devi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=DF|name=[[Ezhilarasi]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=FW|name=[[Sujata Kar]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=FW|name=[[Gurmeet Kaur (footballer)|Gurmeet Kaur]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=MF|name=[[Gracye Pereira]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=DF|name=[[Maria Rebello]]|age= |club= }}
{{National football squad player (no caps)|no=|pos=MF|name=[[Sradhanjali Samantaray]]|age={{birth date and age2|df=yes|1998|12|6|1978|6|20}} |club= }}
{{National football squad player (no caps)|no=|pos=MF|name=[[Alpana Sil]]|age= |club= }}
{{National football squad end}}

====Preliminary round====
<section begin=B />{{#invoke:sports table|main|style=WDL
|team1=CHN|name_CHN={{fbw|CHN|name=China}}
|team2=TPE|name_TPE={{fbw|TPE}}
|team3=KOR|name_KOR={{fbw|KOR|1997}}
|team4=IND|name_IND={{fbw|IND}}
|win_CHN=3|draw_CHN=0|loss_CHN=0|gf_CHN=24|ga_CHN=0
|win_TPE=1|draw_TPE=1|loss_TPE=1|gf_TPE=14|ga_TPE=7
|win_KOR=1|draw_KOR=1|loss_KOR=1|gf_KOR=8|ga_KOR=4
|win_IND=0|draw_IND=0|loss_IND=3|gf_IND=1|ga_IND=36
|col_A=#ccffcc
|result1=A|result2=A
|update=complete|source=[https://www.rsssf.org/tablesa/aswomgames98.html RSSSF]
}}<section end=B />
{{football box
|date=7 December
|time= 14:00
|team1={{fbw-rt|IND}}
|score=0–7
|report=https://web.archive.org/web/20021104201150/http://indianfootball.de/news/m199812.html
|team2={{fbw|KOR|1997}}
|goals1=
|goals2=[[Seong Mi Son]] {{goal}}{{goal}}<br/>[[Sung Mi Cha]] {{goal}}{{goal}}{{goal}}<br/>[[Maria Rebello]] {{goal||o.g.}}<br/>[[Mi Yeon Lee (footballer)|Mi Yeon Lee]] {{goal}}
|stadium=[[Thammasat Stadium]], [[Pathum Thani]]
}}
----
{{football box
|date=9 December
|time= 16:00
|team1={{fbw-rt|IND}}
|score=1–13
|report=https://web.archive.org/web/20021104201150/http://indianfootball.de/news/m199812.html
|team2={{fbw|TPE}}
|goals1=[[Thongam Tababi Devi|Tababi Devi]] {{goal}}
|goals2=[[Ming-shu Lee]] {{goal}}{{goal}}{{goal}}<br/>[[Ii-Min Hung]] {{goal}}{{goal}}{{goal}}<br/>[[Huey-Shwu Wu]] {{goal}}{{goal}}{{goal}}<br/>[[Chun- Lan Huang]] {{goal}}{{goal}}<br/>[[Tzu-Yun Chang]] {{goal}}<br/>[[Lan-ten Lan]] {{goal}}
|stadium=[[Thammasat Stadium]], [[Pathum Thani]]
}}
----
{{football box
|date=11 December
|time= 14:00
|team1={{fbw-rt|IND}}
|score=0–16
|team2={{fbw|CHN|name=China}}
|goals1=
|goals2=
|stadium=[[Thai-Japanese Stadium]], [[Bangkok]]
}}

==References==
{{reflist}}

{{Nations at the 1998 Asian Games}}

[[Category:Nations at the 1998 Asian Games]]
[[Category:India at the Asian Games|1998]]
[[Category:1998 in Indian sport|Asian Games]]

Ishaani Krishna

2023-07-15T19:59:00Z

Thehashmi:

{{Notability|1=Biographies}}
{{Infobox person
| name = Ishaani Krishna
| image = IshaaniKrishna.jpg
| caption =
| birth_name = 
| birth_place = [[Trivandrum]], Kerala, India
| occupation = {{Hlist | Actress}}
| years_active = 2021–present
| father = [[Krishna Kumar (actor)|Krishna Kumar]]
| website =
| module = {{Infobox YouTube personality
| embed = yes
| logo =
| logo_caption =
| pseudonym =
| channel_direct_url = https://www.youtube.com/@ishaanikrishna_
| channel_display_name = Ishaani Krishna
| years_active = 2018–present
| network =
| associated_acts =
| catchphrase(s) =
| silver_button = y
| silver_year = 2020
}}
}}

'''Ishaani Krishna''' is an Indian model, YouTuber and [[actress]] who appears primarily in [[Malayalam cinema|Malayalam]] films. She made her cinematic debut in the Malayalam movie ''[[One (2021 film)|One]]''.<ref>{{Cite news |title=Ahaana Krishna's sister Ishaani to make her debut in Mollywood with Mammootty starrer 'One' |work=The Times of India |url=https://timesofindia.indiatimes.com/entertainment/malayalam/movies/news/ahaana-krishnas-sister-ishaani-to-make-her-debut-in-mollywood-with-mammootty-starrer-one/articleshow/71854806.cms |access-date=2023-07-13 |issn=0971-8257}}</ref>

==References==
{{reflist}}

{{DEFAULTSORT:Krishna, Ishaani}}
[[Category:Living people]]
[[Category:21st-century Indian actresses]]
[[Category:Female models from Thiruvananthapuram]]
[[Category:Indian YouTubers]]
[[Category:Actresses in Malayalam cinema]]
[[Category:People from Thiruvananthapuram district]]
[[Category:Actresses from Thiruvananthapuram]]
[[Category:Year of birth missing (living people)]]

{{India-film-actor-stub}}

List of Battles of Guru Hargobind

2023-07-14T04:59:15Z

Thehashmi:

This is a list of battles fought by the 6th Sikh Guru, [[Guru Hargobind]].

== Background ==
[[Guru Arjan]] had advised his son, Hargobind, to become martially trained when he was a youth.<ref>{{Cite book |last=Mitra |first=Swati |title=Good Earth Punjab Travel Guide |publisher=Eicher Goodearth Limited |year=2006 |isbn=9789380262178 |edition=2nd |pages=26}}</ref> Following Guru Arjan's exeution by Jahangir, the Mughal emperor, the Akal Sena came into being at the same time of the consecration of the [[Akal Bunga]] on the 15 June 1606.<ref>{{Cite journal |title=Abstracts of Sikh Studies |journal=Abstracts of Sikh Studies |location=Chandigarh, India |publisher=Institute of Sikh Studies |volume=3 |issue=3 |pages=54}}</ref><ref>{{cite book |last1=Singh |first1=Dr Kuldip |url=http://panjabdigilib.org/webuser/searches/displayPage.jsp?ID=40833&page=1&CategoryID=12&Searched=W3GX&sbtsro=1&viewall=1 |title=Akal Takht Ate Khalsa Panth |location=Chandigarh |page=2 |ref=PL-000788 |access-date=21 October 2016 |archive-url=https://web.archive.org/web/20161021194818/http://panjabdigilib.org/webuser/searches/displayPage.jsp?ID=40833&page=1&CategoryID=12&Searched=W3GX&sbtsro=1&viewall=1 |archive-date=21 October 2016 |url-status=live}}</ref><ref>{{cite book |last1=Dilgeer |first1=Harjinder Singh |title=The Akal Takht |publisher=Sikh University Press |location=Jalandhar}}</ref> The Akal Sena became the army of the Sikhs and was headquartered in Amritsar.<ref>{{Cite journal |title=The Sikh Review |journal=The Sikh Review |location=Calcutta |publisher=Sikh Cultural Centre |volume=50 |issue=577–588 |pages=29}}</ref> Guru Hargobind's army quickly grew in number and Sikhs began to call Guru Hargobind, "true king". A fort was created outside of Amritsar and Guru Hargobind had set up his own court in the Akal Takht.<ref name="Phyllis2004">{{cite book |author=Phyllis G. Jestice |url=https://books.google.com/books?id=H5cQH17-HnMC&pg=PA345 |title=Holy People of the World: A Cross-cultural Encyclopedia, Volume 1 |publisher=[[ABC-CLIO]] |year=2004 |isbn=9781576073551 |pages=345, 346}}</ref><ref>{{Cite book |last=Dhillon |first=Dalbir Singh |url=https://books.google.com/books?id=osnkLKPMWykC&dq=battle++guru+hargobind&pg=PA123 |title=Sikhism, Origin and Development |publisher=Atlantic Publishers & Distri |pages=113 |language=en}}</ref> Guru Hargobind was eventually summoned to Delhi where he went hunting with Jahangir. Both of them grew close and went to Agra together.<ref>{{Cite book |last=Dhillon |first=Dalbir Singh |url=https://books.google.com/books?id=osnkLKPMWykC&dq=battle++guru+hargobind&pg=PA123 |title=Sikhism, Origin and Development |publisher=Atlantic Publishers & Distri |pages=114–115 |language=en}}</ref> In 1609 he was imprisoned in [[Gwalior Fort|Gawalior Fort]] by the emperor for reasons that are disputed.<ref name="mandair482">{{cite book |author=Arvind-Pal Singh Mandair |url=https://books.google.com/books?id=BEP0Ty-GuVEC&pg=PA48 |title=Sikhism: A Guide for the Perplexed |publisher=[[A & C Black]] |year=2013 |isbn=9781441117083 |page=48}}</ref> Guru Hargobind was eventually let go and had 52 [[Rajput]] Kings let go with him.{{sfn|Singh|1998|p=8}} Following his release Guru Hargobind maintained friendly relations with Jahangur while further strengthining the Akal Sena.<ref name="mandair482" />

== Battles ==
{{Main| List of battles between Mughals and Sikhs}}
{| class="wikitable sortable"
! rowspan="2" |Battle
! rowspan="2" data-sort-type="number" |Year
! colspan="2" |Strength
! colspan="2" |Casualties
! colspan="2" |Combatants
! rowspan="2" |Result
|-
! data-sort-type="number" |Sikhs
! data-sort-type="number" |Enemy
!Sikhs
!Enemy
! data-sort-type="number" |Sikhs
! data-sort-type="number" |Enemy
|-
|[[Battle of Rohilla]]
|1621
|500-700
|4,000<ref name=":1">{{cite book |author=Hari Ram Gupta |url=https://archive.org/details/HistoryOfTheSikhsVol.ITheSikhGurus1469-1708/page/n175/mode/2up |title=History of the Sikhs:The Sikhs Gurus (1469-1708) |publisher=Munshilal Manohorlal 1994 |page=164}}</ref> - 15,000<ref name=":0">Gurbilas Patashahi 6 Chapter 14</ref>
|Unknown
|14,000<ref name=":0" />
|[[Akal Sena]]
|[[Mughal Empire]]
|Sikh Victory<ref name=":2">{{Cite book |last=Singh |first=Fauja |url=https://archive.org/details/guru-tegh-bahadur-martyr-and-teacher |title=Guru Tegh Bahadur: Martyr and teacher |publisher=Publication Bureau Punjabi university, PATIALA |year=1975 |page=10}}</ref>
|-
|[[Battle of Amritsar (1634)|Battle of Amritsar]]
|1634
|700<ref name="Macauliffe1909">{{cite book |last1=Macauliffe |first1=Max Arthur |title=The Sikh Religion, its gurus, sacred writings and authors, Vol 4 |publisher=Clarendon Press |location=Oxford}} [[wikisource:en:Index:The Sikh Religion, its gurus, sacred writings and authors Vol 4.djvu|Wikisource]]</ref>{{Rp|96}}
|7,000<ref name="Macauliffe1909" />{{Rp|92}}
|Unknown
|7,000<ref name="Macauliffe1909" />{{Rp|92}}
|[[Akal Sena]]
|[[Mughal Empire]]
|Sikh Victory{{sfn|Gandhi|2007|p=534-536}}
|-
|[[Battle of Lahira]]
|1634
|3,000 Sikh<ref>Gurbilas Patashai 6 Chapter 19</ref>
1,000 Kangra<ref>Gurbilas Patashai 6 Chapter 19</ref>
|35,100+<ref>Gurbilas Patashai 6 Chapter 19</ref>
|1,200 Sikh<ref>Gurbilas Patashai 6 Chapter 20</ref><ref name=":5">{{Cite book |last=Macauliffe |first=Max Arthur |url=http://archive.org/details/in.ernet.dli.2015.69685 |title=Sikh Religion Vol.4 |pages=185-186}}</ref>

500 Kangra soldiers<ref>Gurbilas Patashai 6 Chapter 20</ref>
|35,100<ref>Gurbilas Patashai 6 Chapter 19</ref>
|[[Akal Sena]]<br>[[Kangra State]]
|[[Mughal Empire]]
|Sikh and Kangra Victory<ref>{{cite book |author=Surjit Singh Gandhi |url=https://books.google.com/books?id=vZFBp89UInUC&dq=hargobind+jahangir&pg=PA540 |title=History of Sikh Gurus Retold: 1606-1708 C.E |publisher=Atlantic Publishers & Dist. |year=2007 |isbn=9788126908585 |page=820-821}}</ref>
|-
|[[Battle of Kartarpur]]
|1635
|1,800
|52,000<ref name="Macauliffe1909" />{{Rp|198}}-100,000<ref name=":02">Gurbilas Patashahi 6 Chapter 20</ref><ref name=":14">Suraj Granth Raas 8</ref>
|700-1,000<ref name="Macauliffe1909" />{{Rp|211}}<ref name="Gurbilas Patashai 6 Chapter 202">Gurbilas Patashai 6 Chapter 20</ref>
|50,000<ref name="Macauliffe1909" />{{Rp|211}}-96,000<ref name=":13">Suraj Granth Raas 8</ref><ref name=":03">Gurbilas Patashahi 6 Chapter 20</ref>
|[[Akal Sena]]
|[[Mughal Empire]]
|Sikh victory<ref name="Gandhi2007" />{{Rp|820–821}}
|-
|[[Battle of Phagwara]]
|1635
|Unknown
|Unknown
|Unknown
|Unknown
|[[Akal Sena]]
|[[Mughal Empire]]
|Sikh Victory<ref name="Gandhi2007">{{cite book |author=Surjit Singh Gandhi |url=https://books.google.com/books?id=vZFBp89UInUC&q=hargobind+jahangir&pg=PA541 |title=History of Sikh Gurus Retold: 1606-1708 C.E |publisher=Atlantic Publishers & Dist. |year=2007 |isbn=9788126908585 |pages=542–543}}</ref><ref>Nayyar,Gurbachan Singh (1995). The Sikhs in Ferment, Battle of the Sikh Gurus</ref><ref name="Darbir Singh">{{Cite book |last=Dhillon |first=Darbir Singh |url=https://books.google.com/books?id=osnkLKPMWykC&q=phagwara |title=Sikhism, Origin and Development |pages=123}}</ref>
|-
|[[Battle of Kiratpur]]
|1638
|23 (during the siege - later reinforced with larger army) <ref>{{Cite book |last= |url=http://archive.org/details/HistoryOfTheSikhGurus-AComprehensiveStudy |title=History Of The Sikh Gurus - A Comprehensive Study |pages=319 |language=English}}</ref>
|Unknown
|Unknown
|High
|[[Akal Sena]]
|
Rulers of [[Rupnagar|Ropar]]<ref name=":3" />

[[Pathans]] of Ropar<ref>{{Cite book |last=Dilagīra |first=Harajindara Siṅgha |url=http://archive.org/details/sikhreferenceboo0000dila |title=The Sikh reference book |publisher=Edmonton, Alb., Canada : Sikh Educational Trust for Sikh University Centre, Denmark ; Amritsar : Available from Singh Bros. |others=Internet Archive |isbn=978-0-9695964-2-4 |pages=140}}</ref>

[[Gujjars]] of Nangal Gujjaran<ref name=":3">{{Cite book |last=Dilagīra |first=Harajindara Siṅgha |url=http://archive.org/details/sikhreferenceboo0000dila |title=The Sikh reference book |publisher=Edmonton, Alb., Canada : Sikh Educational Trust for Sikh University Centre, Denmark ; Amritsar : Available from Singh Bros. |others=Internet Archive |isbn=978-0-9695964-2-4 |pages=140}}</ref>

[[Ranghar|Ranghars]] of [[Malakpur]]<ref>{{Cite book |last=Dilagīra |first=Harajindara Siṅgha |url=http://archive.org/details/sikhreferenceboo0000dila |title=The Sikh reference book |publisher=Edmonton, Alb., Canada : Sikh Educational Trust for Sikh University Centre, Denmark ; Amritsar : Available from Singh Bros. |others=Internet Archive |isbn=978-0-9695964-2-4 |pages=140}}</ref>
|Sikh Victory<ref>{{Cite book |last= |url=http://archive.org/details/HistoryOfTheSikhGurus-AComprehensiveStudy |title=History Of The Sikh Gurus - A Comprehensive Study |pages=319 |language=English}}</ref>
|}

== References ==
<references />

{{Sikhism|state=collapsed}}

[[Category:Lists of battles]]
[[Category:Sikhs]]

Bhāskara I's sine approximation formula

2023-07-06T22:09:58Z

Thehashmi: Shared an insightful publication.

{{Use dmy dates}}
In [[mathematics]], '''Bhāskara I's sine approximation formula''' is a [[rational fraction|rational expression]] in one [[Variable (mathematics)|variable]] for the [[computation]] of the [[approximation|approximate value]]s of the [[sine|trigonometric sine]]s discovered by [[Bhāskara I]] (c. 600 – c. 680), a seventh-century Indian [[mathematician]].<ref name="mcs">{{Cite web|url=http://www-history.mcs.st-and.ac.uk/Biographies/Bhaskara_I.html|title=Bhāskara I|last=J J O'Connor and E F Robertson|date = November 2000|publisher=School of Mathematics and Statistics University of St Andrews, Scotland |accessdate=22 April 2010| archiveurl= https://web.archive.org/web/20100323052236/http://www-history.mcs.st-and.ac.uk/Biographies/Bhaskara_I.html| archivedate= 23 March 2010 | url-status= live}}</ref>
This [[formula]] is given in his treatise titled ''Mahabhaskariya''. It is not known how Bhāskara I arrived at his approximation formula. However, several [[historian]]s of [[mathematics]] have put forward different hypotheses as to the method Bhāskara might have used to arrive at his formula. The formula is elegant, simple and enables one to compute reasonably accurate values of trigonometric sines without using any geometry whatsoever.<ref name="Brummelen"/>

== Approximation formula ==
The formula is given in verses 17–19, chapter VII, Mahabhaskariya of Bhāskara I. A translation of the verses is given below:<ref name="Gupta">{{Cite journal|last=R.C. Gupta|year=1967|title=Bhāskara I's approximation to sine|journal=Indian Journal of History of Science|volume=2|issue=2|url=http://www.new.dli.ernet.in/rawdataupload/upload/insa/INSA_1/20005af0_121.pdf|accessdate=20 April 2010|url-status=dead|archiveurl=https://web.archive.org/web/20120316083451/http://www.new.dli.ernet.in/rawdataupload/upload/insa/INSA_1/20005af0_121.pdf|archivedate=16 March 2012}}</ref>
<blockquote>
(Now) I briefly state the rule (for finding the ''bhujaphala'' and the ''kotiphala'', etc.) without making use of the Rsine-differences 225, etc. Subtract the degrees of a ''bhuja'' (or ''koti'') from the degrees of a half circle (that is, 180 degrees). Then multiply the remainder by the degrees of the ''bhuja'' or ''koti'' and put down the result at two places. At one place subtract the result from 40500. By one-fourth of the remainder (thus obtained), divide the result at the other place as multiplied by the ''anthyaphala'' (that is, the epicyclic radius). Thus is obtained the entire ''bahuphala'' (or, ''kotiphala'') for the sun, moon or the star-planets. So also are obtained the direct and inverse Rsines.
</blockquote>

(The reference "Rsine-differences 225" is an allusion to [[Aryabhata's sine table]].)

In modern mathematical notations, for an angle ''x'' in degrees, this formula gives<ref name="Gupta"/>
: <math>\sin x^\circ \approx \frac{4x(180 - x)}{40500 - x(180 - x)}.</math>

=== Equivalent forms of the formula ===
Bhāskara I's sine approximation formula can be expressed using the [[radian]] measure of [[angle]]s as follows:<ref name="mcs"/>
: <math>\sin x \approx \frac{16x (\pi - x)}{5\pi^2 - 4x (\pi - x)}.</math>

For a positive integer ''n'' this takes the following form:<ref name="Joseph">{{Cite book|last=George Gheverghese Joseph|title=A passage to infinity : Medieval Indian mathematics from Kerala and its impact|publisher=SAGE Publications India Pvt. Ltd.|location=New Delhi|year=2009|isbn=978-81-321-0168-0|title-link=A Passage to Infinity}} (p.60)</ref>
: <math>\sin \frac{\pi}{n} \approx \frac{16(n - 1)}{5n^2 - 4n + 4}.</math>

The formula acquires an even simpler form when expressed in terms of the cosine rather than the sine. Using radian measure for angles from <math>-\frac{\pi}{2}</math> to <math>\frac{\pi}{2}</math> and putting <math>x = \tfrac{1}{2} \pi + y</math>, one gets
: <math>\cos y \approx \frac{\pi^2 - 4 y^2}{\pi^2 + y^2}.</math>

To express the previous formula with the constant <math>\tau = 2\pi,</math> one can use
: <math>\cos y \approx 1 - \frac{20y^2}{4y^2 + \tau^2}.</math>

Equivalent forms of Bhāskara I's formula have been given by almost all subsequent astronomers and mathematicians of India. For example, [[Brahmagupta]]'s (598–668 [[BCE|CE]])
''Brhma-Sphuta-Siddhanta'' (verses 23–24, chapter XIV)<ref name="Gupta"/> gives the formula in the following form:
: <math>R \sin x^\circ \approx \frac{Rx(180 - x)}{10125 - \frac{1}{4}x(180 - x)}.</math>

Also, [[Bhāskara II]] (1114–1185 [[BCE|CE]]) has given this formula in his [[Lilavati]] (Kshetra-vyavahara, Soka No. 48) in the following form:

: <math>2R\sin x^\circ \approx \frac{4 \times 2R \times 2Rx \times (360R - 2Rx)}{\frac{1}{4} \times 5 \times (360R)^2 - 2Rx \times (360R - 2Rx)}.</math>

== Accuracy of the formula ==
[[File:BhaskaraSineApproximation3.jpeg|thumb|right|350px|Figure illustrates the level of accuracy of the Bhāskara I's sine approximation formula. The shifted curves 4''x''(180 − ''x'')/(40500 − ''x''(180 − ''x'')) − 0.2 and sin ''x'' + 0.2 look like exact copies of the curve sin ''x''.]]
[[File:Graph of error Bhaskara I's sine approximation formula.svg|thumb|350x350px|Graph of the error in Bhāskara I's sine approximation formula]]
[[File:BhaskaraSineApproximation1.png|thumb|right|350px|Graph of the relative error in Bhāskara I's sine approximation formula]]

The formula is applicable for values of ''x''° in the range from 0° to 180°. The formula is remarkably accurate in this range. The graphs of sin ''x'' and the approximation formula are visually indistinguishable and are nearly identical. One of the accompanying figures gives the graph of the error function, namely, the function
: <math>\sin x^\circ \approx \frac{4x(180 - x)}{40500 - x(180 - x)}</math>
in using the formula. It shows that the maximum absolute error in using the formula is around 0.0016. From a plot of the percentage value of the absolute error, it is clear that the maximum relative error is less than 1.8%. The approximation formula thus gives sufficiently accurate values of sines for most practical purposes. However, it was not sufficient for the more accurate computational requirements of astronomy. The search for more accurate formulas by Indian astronomers eventually led to the discovery of the [[Madhava series|power series]] expansions of sin ''x'' and cos ''x'' by [[Madhava of Sangamagrama]] (c. 1350 – c. 1425), the founder of the [[Kerala school of astronomy and mathematics]].

== Derivation of the formula ==
Bhāskara had not indicated any method by which he arrived at his formula. Historians have speculated on various possibilities. No definitive answers have as yet been obtained. Beyond its historical importance of being a prime example of the mathematical achievements of ancient Indian astronomers, the formula is of significance from a modern perspective also. Mathematicians have attempted to derive the rule using modern concepts and tools. Around half a dozen methods have been suggested, each based on a separate set of premises.<ref name="Brummelen">{{Cite book |last=Glen Van Brummelen|title=The mathematics of the heavens and the earth: the early history of trigonometry |publisher=Princeton University Press |year=2009|isbn=978-0-691-12973-0}} (p.104)</ref><ref name="Gupta"/> Most of these derivations use only elementary concepts.

=== Derivation based on elementary geometry ===
Let the [[circumference]] of a [[circle]] be measured in [[Degree (angle)|degree]]s and let the [[radius]] ''R'' of the [[circle]] be also measured in [[Degree (angle)|degree]]s. Choosing a fixed diameter ''AB'' and an arbitrary point ''P'' on the circle and dropping the perpendicular ''PM'' to ''AB'', we can compute the area of the triangle ''APB'' in two ways. Equating the two expressions for the area one gets {{nowrap|1=(1/2) ''AB'' × ''PM'' = (1/2) ''AP'' × ''BP''}}. This gives
: <math>\frac{1}{PM} = \frac{AB}{AP \times BP}.</math>
Letting ''x'' be the length of the arc ''AP'', the length of the arc ''BP'' is {{nowrap|180 − ''x''}}. These arcs are much bigger than the respective chords. Hence one gets
: <math>\frac{1}{PM} > \frac{2R}{x(180 - x)}.</math>
One now seeks two constants α and β such that
: <math>\frac{1}{PM} = \alpha \frac{2R}{x(180 - x)} + \beta.</math>
It is indeed not possible to obtain such constants. However, one may choose values for α and β so that the above expression is valid for two chosen values of the arc length ''x''. Choosing 30° and 90° as these values and solving the resulting equations, one immediately gets Bhāskara I's sine approximation formula.<ref name="Brummelen"/><ref name="Gupta"/>

=== Derivation starting with a general rational expression ===
Assuming that ''x'' is in radians, one may seek an approximation to sin ''x'' in the following form:
: <math>\sin x \approx \frac{a + bx + cx^2}{p + qx + rx^2}.</math>
The constants ''a'', ''b'', ''c'', ''p'', ''q'' and ''r'' (only five of them are independent) can be determined by assuming that the formula must be exactly valid when ''x'' = 0, π/6, π/2, π, and further assuming that it has to satisfy the property that sin(''x'') = sin(π − ''x'').<ref name="Brummelen"/><ref name="Gupta"/> This procedure produces the formula expressed using [[radian]] measure of angles.

=== An elementary argument ===
[[File:BhaskaraSineApproximation4.jpeg|thumb|right|350px|Comparison of graphs of the parabolas {{nowrap|''x''(180 − ''x'')/8100}} and {{nowrap|''x''(180 − ''x'')/9000}} with the graph of sin ''x'' (with ''x'' in degrees)]]
The part of the graph of sin ''x'' in the range from 0° to 180° "looks like" part of a parabola through the points (0, 0) and (180, 0). The general such parabola is
: <math>kx(180 - x).</math>

The parabola that also passes through (90, 1) (which is the point corresponding to the value sin(90°) = 1) is
: <math>\frac{x(180 - x)}{90 \times 90} = \frac{x(180 - x)}{8100}.</math>

The parabola which also passes through (30, 1/2) (which is the point corresponding to the value sin(30°) = 1/2) is
: <math>\frac{x(180 - x)}{2 \times 30 \times 150} = \frac{x(180 - x)}{9000}.</math>

These expressions suggest a varying denominator which takes the value 90 × 90 when ''x'' = 90 and the value {{nowrap|2 × 30 × 150}} when ''x'' = 30. That this expression should also be symmetrical about the line ''x'' = 90 rules out the possibility of choosing a linear expression in ''x''. Computations involving ''x''(180 − ''x'') might immediately suggest that the expression could be of the form
: <math>8100a + bx(180 - x).</math>

A little experimentation (or by setting up and solving two linear equations in ''a'' and ''b'') will yield the values ''a'' = 5/4, ''b'' = −1/4. These give Bhāskara I's sine approximation formula.<ref name="Joseph"/>

== See also ==
* [[Aryabhata's sine table]]
* [[Madhava's sine table]]

== References ==
{{Reflist}}

== Further references ==
# R.C..Gupta, On derivation of Bhāskara I's formula for the sine, Ganita Bharati 8 (1-4) (1986), 39–41.
# T. Hayashi, A note on Bhāskara I's rational approximation to sine, Historia Sci. No. 42 (1991), 45–48.
# K. Stroethoff, Bhāskara's approximation for the sine, The Mathematics Enthusiast, Vol. 11, No. 3 (2014), 485–492.

[[Category:Trigonometry]]
[[Category:Indian mathematics]]
[[Category:History of mathematics]]
[[Category:History of geometry]]

Indian black money

2023-01-17T02:19:46Z

Thehashmi: Shared an influential publication.

{{Short description|Income from India's black market or hidden from taxation}}
{{EngvarB}}
{{Use dmy dates}}
[[File:Tax havens.svg|thumb|upright=1.2|Map of [[tax haven]]s, using the 2007 proposed "[[Foreign Account Tax Compliance Act|Stop Tax Haven Abuse Act]]"]]

In [[India]], '''black money''' is funds earned on the [[black market]], on which income and other taxes have not been paid. Also, the unaccounted money that is concealed from the tax administrator is called ''black money''. The black money is accumulated by the criminals, smugglers, and tax-evaders. Around ₹22,000 [[crores]] are supposed{{citation needed}} to have been accumulated by the criminals for vested interests, though writ petitions in the supreme court estimate this to be even larger, at ₹900 lakh crores.<ref>{{cite web |title=Writ petition in the issue of black money |url=https://www.right2info.org/resources/publications/case-pdfs/india_union-of-india-uoi-v.-respondent-association-for-democratic-reforms-and-another-with-peoples-union-for-civil-liberties-pucl-and-another-v.-union-of-india-uoi-and-another |website=Right to information – black money case |publisher=Supreme court of India |access-date=13 June 2018 |archive-date=14 March 2018 |archive-url=https://web.archive.org/web/20180314050919/http://www.right2info.org/resources/publications/case-pdfs/india_union-of-india-uoi-v.-respondent-association-for-democratic-reforms-and-another-with-peoples-union-for-civil-liberties-pucl-and-another-v.-union-of-india-uoi-and-another |url-status=dead }}</ref>

The total amount of black money deposited in foreign banks by Indians is unknown. Some reports claim a total of US$10.6 – $11.4  trillion is held illegally in Switzerland.<ref name="nanjappa">{{cite news |last=Nanjappa |first=Vicky |title=Swiss black money can take India to the top |url=http://election.rediff.com/interview/2009/mar/31/inter-swiss-black-money-can-take-india-to-the-top.htm |access-date=23 May 2016 |work=Rediff.com }}</ref> Other reports, including those reported by the [[Swiss Bankers Association]] and the [[Government of Switzerland]], claim these reports are false and fabricated, and the total amount held in all [[Swiss bank account]]s by citizens of India is about {{USD}}2 billion.<ref name="fm2012">{{cite web |title=White Paper on Black Money |publisher=Ministry of Finance, G.O.I |year=2012 |url=http://finmin.nic.in/reports/WhitePaper_BackMoney2012.pdf |url-status=dead |archive-url=https://web.archive.org/web/20120729033758/http://finmin.nic.in/reports/WhitePaper_BackMoney2012.pdf |archive-date=29 July 2012}}</ref><ref name="swissinfo">{{cite news |title=Banking secrecy spices up Indian elections |publisher=SWISSINFO – A member of Swiss Broadcasting Corporation |url=http://www.swissinfo.ch/eng/politics/foreign_affairs/Banking_secrecy_spices_up_Indian_elections.html?cid=7396340}}</ref> In February 2012, the director of India's [[Central Bureau of Investigation]] said that Indians have US$500 billion of illegal funds in foreign [[tax haven]]s, more than any other country.<ref name="TOI">{{cite news |url=http://timesofindia.indiatimes.com/india/Black-money-Indians-have-stashed-over-500bn-in-banks-abroad-says-CBI/articleshow/11871624.cms |title=Black money: Indians have stashed over $12 in banks abroad, says CBI |work=The Times of India |access-date=29 July 2015}}</ref><ref name="BBC">{{cite news |url=https://www.bbc.co.uk/news/world-asia-india-17013314 |title=India 'loses $500bn to tax havens' |work=BBC News |access-date=29 July 2015}}</ref> In March 2012, the government of India clarified in its parliament that the CBI director's statement on $500 billion of illegal money was an estimate based on a statement made to India's Supreme Court in July 2011.<ref name="thbl1">{{cite web |title=White paper on black money likely to be tabled in Budget Session |publisher=The Hindu – Business Line |url=http://www.thehindubusinessline.com/industry-and-economy/economy/article2990902.ece}}</ref>

In March 2018, it was revealed that the amount of Indian black money currently present in Swiss and other offshore banks is estimated to be ₹300 lakh crores or US$4 trillion.<ref name="et1">{{cite news |title=Bring back black money from abroad: Jethmalani |url=https://economictimes.indiatimes.com/news/politics-and-nation/bring-back-black-money-from-abroad-jethmalani/articleshow/63237520.cms |access-date=13 June 2018 |work=The Economic Times }}</ref>

==Sources of black money income ==
The root cause for the increasing rate of black money in the country is the lack of strict punishments for the offenders. The criminals pay bribes to the tax authorities to hide their corrupt activities. Thus, they are rarely punished by the judge. The criminals who conceal their accounts from the government authorities include big politicians, film stars, cricketers, and businessmen.
Some Indian corporations practice [[transfer mispricing]], by under-invoicing their [[export]]s and over-invoicing their [[import]]s from [[Tax haven|tax haven countries]] such as Singapore, UAE, and Hong Kong. Thus, the promoters of the public limited companies who hold rarely more than 10% of share capital, earn black money abroad at the cost of majority share holders and tax income to the Indian government.<ref name="GFI">{{cite web |url=http://www.gfintegrity.org/wp-content/uploads/2014/02/GFI_India.pdf |title=The Drivers and Dynamics of Illicit Financial Flows from India: 1948–2008 |access-date=9 March 2017}}</ref> By the year 2008, the cumulative Illicit Financial Out flows from the country touched US$452 billion.<ref name="GFI" />

Political organizations, corrupt politicians and government officials take bribes from foreign companies then park or invest the money abroad in tax havens for transferring to India when needed. In addition, locally earned bribes, funds and collections are often routed abroad through [[hawala]] channels in order to evade Indian tax authorities and consequent legal implications.<ref>{{cite web |url=http://www.thecn24.com/2020/05/what-is-black-money.html |title=What Is Black Money? }}</ref>

In the [[Vodafone India#Vodafone-Hutchison tax case|Vodafone-Hutchison tax case]], a foreign multinational company also evaded tax payments in India by making transactions with [[Shell corporation|shell companies]] registered in tax haven countries.<ref name="fm2012" />

The unlawfully acquired money kept abroad is routed back to India by the [[Round-tripping (finance)|round tripping]] processes. Round tripping involves getting the money out of one country, sending it to a place like Mauritius and then, dressed up to look like foreign capital, sending it back home to earn tax-favoured profits.<ref>{{cite web |url=http://blogs.reuters.com/david-cay-johnston/2011/08/09/tax-gateways-to-india/ |archive-url= https://web.archive.org/web/20110927230451/http://blogs.reuters.com/david-cay-johnston/2011/08/09/tax-gateways-to-india/ |url-status= dead |archive-date= 27 September 2011 |title=Tax gateways to India |access-date=29 July 2015 |author=David Cay Johnston|author-link=David Cay Johnston}}</ref>

[[Foreign direct investment in India|Foreign direct investment]] (FDI) is one of the legal channels to invest in Indian stock and financial markets. As per data released by the [[Department of Industrial Policy and Promotion]] (DIPP), two of the topmost sources of the cumulative inflows from April 2000 to March 2011 are Mauritius (41.80 per cent, US$54.227 billion) and Singapore (9.17 per cent, US$11.895 billion). It is not plausible that the small economies of Mauritius and Singapore are the true origins of such huge investments. It is apparent that the investments are being routed through these jurisdictions in order to conceal from revenue authorities the identities of such tax evaders; In many cases they are Indian residents who have invested in their own companies.<ref>{{cite web |url=http://www.thehindubusinessline.com/multimedia/archive/01091/WhitePaper_BackMon_1091518a.pdf |title=(page 17) White Paper on black money, Ministry of Finance |access-date=29 July 2015}}</ref><ref>{{Cite web |url=http://aamaadmiparty.org/complaint-of-huge-money-laundering-and-siphoning-of-rs-6500-crores |title=Complaint of huge money laundering and siphoning of Rs 6500 crores | Aam Aadmi Party |access-date=30 October 2015 |archive-url=https://web.archive.org/web/20140709232030/http://www.aamaadmiparty.org/complaint-of-huge-money-laundering-and-siphoning-of-rs-6500-crores |archive-date=9 July 2014 |url-status=dead}}</ref>

Investment in the [[India]]n [[stock market]] through participatory notes (PNs) or overseas derivative instruments (ODIs) is another way in which the black money generated by Indians is re-invested in India. The investor in PNs does not hold the Indian securities in her or his own name. These are legally held by the FIIs, but derive economic benefits from fluctuations in prices of the Indian securities, as also dividends and capital gains, through specifically designed contracts.{{citation needed}}

Foreign funds received by charitable organisations, non-government organisations (NGOs) and other associations need not disclose the Indian beneficiary.<ref name="fm2012" />

[[The Gold (Control) Act, 1968|Gold imports]] through official channel and smuggling is a major conduit to bring back the black money from abroad and convert into local black money as the gold commands high demand among the rural investors particularly.<ref>{{cite web |url=https://www.scribd.com/doc/58788144/Gold-Imports-A-Social-Evil |title=Gold imports – Social evil |year=2007 |access-date=31 July 2015}}</ref> Also fictitious high value round trip transactions via tax haven countries by diamonds and precious stones exporters and importers is a channel for to and fro transactions outside the country.<ref>{{cite web |url=http://www.indiaspend.com/investigations/gold-diamonds-indias-biggest-tax-beneficiaries-12020 |title=Gold, Diamonds & Large Corporations; India's Biggest Tax Beneficiaries |access-date=31 July 2015}}</ref> Also, fictitious software exports can be booked by software companies to bring black money into India as tax exemptions are permitted to software companies.{{citation needed}}

Unlike in earlier decades, the interest rates offered abroad in US currency is negligible and there is no capital appreciation if the money is parked abroad by the Indians. So, Indians are routing their foreign funds back to India as the capital appreciation in Indian [[capital market]]s is far more attractive.'''<ref>{{cite web |url=http://articles.economictimes.indiatimes.com/2015-07-23/news/64772901_1_rich-indians-lrs-wealth-managers |title=Dollar denominated bonds a preferred choice to earn extra yield overseas |access-date=29 July 2015}}</ref>'''

==The use of Swiss banks for storing black money==
In early 2011, several reports in the Indian media alleged Swiss Bankers Association officials to have said that the largest depositors of illegal foreign money in Switzerland are Indians.<ref name="nanjappa" /><ref name="indiatoday">{{cite web |url=http://indiatoday.intoday.in/site/Story/131970/world/black-money-tax-havens-exposed.html |title=Black money: Tax havens exposed |access-date=9 May 2011}}</ref> These allegations were later denied by Swiss Bankers Association as well as the central bank of Switzerland that tracks total deposits held in Switzerland by Swiss and non-Swiss citizens, and by wealth managers as [[Fiduciary|fiduciaries]] of non-Swiss citizens.<ref name="fm2012" /><ref name="swissinfo" /><ref>{{cite web |title=Banks in Switzerland 2011 |publisher=Swiss National Bank |url=http://www.snb.ch/en/mmr/reference/pre_20120614_2/source/pre_20120614_2.en.pdf}}</ref>

James Nason of Swiss Bankers Association in an interview about allowed black money from India, suggests "The (black money) figures were rapidly picked up in the Indian media and in Indian opposition circles, and circulated as gospel truth. However, this story was a complete fabrication. The Swiss Bankers Association never said or published such a report. Anyone claiming to have such figures (for India) should be forced to identify their source and explain the methodology used to produce them."<ref name="swissinfo" /><ref>{{cite news |title=No 'black money' statistics exist: Swiss banks |url=http://articles.timesofindia.indiatimes.com/2009-09-13/india/28092452_1_james-nason-swiss-bankers-association-sba-s-head |archive-url=https://web.archive.org/web/20110912101749/http://articles.timesofindia.indiatimes.com/2009-09-13/india/28092452_1_james-nason-swiss-bankers-association-sba-s-head |url-status=dead |work=[[The Times of India]] |archive-date=12 September 2011}}</ref>

In August 2010, the government revised the Double Taxation Avoidance Agreement to provide means for investigations of black money in Swiss banks. This revision, expected to become active by January 2012, will allow the government to make inquiries of Swiss banks in cases where they have specific information about possible black money being stored in Switzerland.<ref>{{cite news |author=Ashok Dasgupta |url=http://www.thehindu.com/news/national/article1609599.ece |title=News / National: India will have to wait till year-end for Swiss information |work=The Hindu |access-date=9 May 2011 |location=Chennai, India}}</ref>

In 2011, the Indian government received the names of 782 Indians who had accounts with [[HSBC]]. As of December 2011, the Finance Ministry has refused to reveal the names, for privacy reasons, though they did confirm that no current Members of Parliament are on the list. In response to demands from the [[Bharatiya Janata Party]] (BJP) opposition party for the release of the information, the government announced on 15 December that, while it would not publish the names, it would publish a white paper about the HSBC information.<ref>{{cite news |title=Black money debate: Govt agrees to bring white paper |url=http://articles.timesofindia.indiatimes.com/2011-12-15/india/30519771_1_names-of-account-holders-black-money-money-in-foreign-banks |archive-url=https://archive.today/20120709044918/http://articles.timesofindia.indiatimes.com/2011-12-15/india/30519771_1_names-of-account-holders-black-money-money-in-foreign-banks |url-status=dead |archive-date=9 July 2012 |access-date=7 January 2012 |newspaper=[[The Times of India]] }}</ref>

According to White Paper on Black Money in India report, published in May 2012, Swiss National Bank estimates that the total amount of deposits in all Swiss banks, at the end of 2010, by citizens of India were CHF 1.95 billion (INR 92.95 billion, US$2.1 billion). The Swiss Ministry of External Affairs has confirmed these figures upon request for information by the Indian Ministry of External Affairs. This amount is about 700 fold less than the alleged $1.4 trillion in some media reports.<ref name="fm2012" />

In February 2012, [[Central Bureau of Investigation]] (CBI) director A P Singh speaking at the inauguration of first [[Interpol]] global programme on anti-corruption and asset recovery said: "It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad. Largest depositors in Swiss Banks are also reported to be Indians". In a hint at scams involving ministers, Singh said: "I am prompted to recall a famous verse from ancient Indian scriptures, which says – यथा राजा तथा प्रजा. In other words, if the King is immoral so would be his subjects"<ref name="TOI" /><ref name="CBI chief's wisdom: If king immoral, so will be subjects">{{cite news |url=http://www.indianexpress.com/news/cbi-chiefs-wisdom-if-king-immoral-so-will-be-subjects/911853/ |title=CBI chief's wisdom: If king immoral, so will be subjects |access-date=14 February 2012}}</ref> The CBI Director later clarified in India's parliament that the $500 billion of illegal money was an estimate based on a statement made to India's Supreme Court in July 2011.<ref name="thbl1" />

After formal inquiries and tallying data provided by banking officials outside India, the government of India claimed in May 2012 that the deposits of Indians in Swiss banks constitute only 0.13 per cent of the total bank deposits of citizens of all countries. Further, the share of Indians in the total bank deposits of citizens of all countries in Swiss banks has reduced from 0.29 per cent in 2006 to 0.13 per cent in 2010.<ref name="fm2012" />

The through the [[Investigation Division of the Central Board of Direct Taxes]] released a White Paper on Black Money giving the Income Tax Department increased powers.<ref name="wpbm">Black Money, May 2012, MINISTRY OF FINANCE, DEPARTMENT OF REVENUE, CENTRAL BOARD OF DIRECT TAXES, NEW DELHI http://pib.nic.in/archieve/others/2012/may/d2012052101.pdf</ref>

==2015 HSBC leaks==
In February 2015,balances for the year 2006–07 in [[HSBC]]'s Geneva branch. The list was obtained by French newspaper [[Le Monde]] and included the names of several prominent businessmen, diamond traders and politicians.<ref>{{cite web |url=http://indianexpress.com/article/explained/explained-whats-new-why-its-important/ |title=Explained: What's new, why it's important |work=The Indian Express |access-date=29 July 2015}}</ref> The number of Indian HSBC clients is roughly double the 628 names that French authorities gave to the Indian Government in 2011.<ref>{{cite web |url=http://indianexpress.com/article/india/india-others/express-investigation-hsbc-indian-list-just-doubled-to-1195-names-balance-rs-25420-cr/ |title=Exclusive: HSBC Indian list just doubled to 1195 names. Balance: Rs 25420 cr |work=The Indian Express |access-date=29 July 2015}}</ref> Indian government said it will probe into this matter.<ref>{{cite news |url=http://www.thehindu.com/news/national/centre-taking-vigorous-steps-to-unearth-black-money-jaitley/article6874067.ece?homepage=true |title=Jaitley promises inquiry |author=Jayant Sriram |work=The Hindu |access-date=29 July 2015}}</ref> The balance against the 1195 names stood at {{INRConvert|25420|c}}.<ref>{{cite news |url=http://www.thehindu.com/news/national/kejriwal-demands-action-against-hsbc-officials/article6874095.ece?homepage=true&ref=relatedNews |title=Kejriwal demands action against HSBC officials |author=National Bureau |work=The Hindu |access-date=29 July 2015}}</ref>

The list which had names of dictators and international criminals, was simultaneously published by news organisations in 45 countries including The Guardian, UK; Haaretz, Israel; BBC, London.<ref>{{cite web |url=http://indianexpress.com/article/world/world-others/hsbc-sheltered-murky-cash-linked-to-dictators-arms-dealers/ |title=HSBC sheltered murky cash linked to dictators, arms dealers |work=The Indian Express |access-date=29 July 2015}}</ref> HSBC had helped its clients evade taxes<ref>{{cite news |url=https://www.theguardian.com/business/2015/feb/08/hsbc-files-expose-swiss-bank-clients-dodge-taxes-hide-millions |title=HSBC files show how Swiss bank helped clients dodge taxes and hide millions |author=David Leigh |work=The Guardian |access-date=29 July 2015}}</ref> and said in a statement that "standards of due diligence were significantly lower than today."<ref>{{cite news |url=https://www.theguardian.com/business/2015/feb/08/hsbc-responds-revelations-misconduct-swiss-bank |title=HSBC's response: 'Standards of due diligence were significantly lower than today' |work=The Guardian |access-date=29 July 2015}}</ref>

==2016 Panama Papers leak==
{{Main|Panama Papers}}
The 2016 Panama Papers scandal is the largest-ever leak of information on black money in history.<ref>{{cite web |url=https://www.theguardian.com/news/live/2016/apr/04/panama-papers-global-reaction-to-huge-leak-of-offshore-tax-files-live |title=Panama Papers: mass protests in Iceland call for PM to quit – as it |website=[[TheGuardian.com]] |access-date=6 April 2016}}</ref> [[International Consortium of Investigative Journalists]] first obtained the leaked information, revealing over 11 million documents. These documents pertain to 214,000 offshore entities and span almost 40 years. The papers originated from [[Mossack Fonseca]], a Panama-based law firm with offices in more than 35 countries. The list of names exposed in the scandal includes 500 Indians who flouted rules and regulations, such as [[Amitabh Bachchan]], [[Aishwarya Rai]], [[Niira Radia]],<ref>{{cite web |url=http://indianexpress.com/article/india/india-news-india/panama-papers-panama-papers-india-niira-radia-mossack-fonseca-set-up-firm-linked-to-niira-radia/ |title=Panama Papers: Mossack Fonseca set up firm linked to Niira Radia |access-date=6 April 2016}}</ref> [[KP Singh]], Garware family, [[Harish Salve]], and others.<ref>{{cite web |url=http://indianexpress.com/article/india/india-news-india/panama-papers-india-part-1-list-garware-shishir-k-bajoria-harish-salve/ |title=Panama Papers India Part 1: Clients who knocked on a Panama door |access-date=6 April 2016}}</ref><ref>{{cite web |url=http://indianexpress.com/article/india/india-news-india/panama-papers-list-amitabh-bachchan-kp-singh-aishwarya-rai-iqbal-mirchi-adani-brother/ |title=Indians in PanamaPapers list: Aishwarya Rai, Amitabh Bachchan, KP Singh, Iqbal Mirchi, Adani elder brother |access-date=6 April 2016}}</ref><ref>{{cite web |url=http://indiatoday.intoday.in/story/panama-papers-name-amitabh-bachchan-aishwarya-rai-among-500-indians-with-hidden-assets/1/634465.html |title=Panama Papers name Amitabh Bachchan, Aishwarya Rai among 500 Indians with hidden assets |access-date=6 April 2016}}</ref>

==2016 demonetisation drive==
{{main|2016 Indian banknote demonetisation}}
From 2011 to 2014, the BJP included the return of Indian black money in their manifesto. In speeches, their prime ministerial candidate [[Narendra Modi]] promised to get this black money (estimated to be ₹90 lakh crores or US$1500 billion) back to India.

On 8 November 2016, in a sudden address to the nation, the Prime Minister Narendra Modi announced that [[2016 Indian banknote demonetisation|banknotes of ₹500 and ₹1000 would cease to be legal tender]] from midnight. He said this decision was taken to crack down on black money and corruption which was destroying the country. He also said that the process of cash circulation was directly related to corruption in his country impacting the lower classes of society.<ref>{{cite news |url=https://www.bbc.com/news/business-37906742 |title=India scraps 500 and 1,000 rupee bank notes overnight |work=BBC News |access-date=8 November 2016}}</ref><ref name="etBlackMonryCrackdown">{{cite news |url=http://economictimes.indiatimes.com/news/politics-and-nation/in-an-attempt-to-curb-black-money-pm-narendra-modi-declares-rs-500-1000-notes-to-be-void-from-midnight/articleshow/55315932.cms |title=In an attempt to curb black money, PM Narendra Modi declares Rs 500, 1000 notes to be invalid |access-date=9 November 2016 |newspaper=The Economic Times}}</ref><ref name="India Today2">{{cite web |url=http://indiatoday.intoday.in/story/live-pm-narendra-modi-addresses-nation/1/805755.html |title=Here is what PM Modi said about the new Rs 500, Rs 2000 notes and black money |access-date=9 November 2016 |work=India Today}}</ref> However, neither Indian banks, nor the [[Reserve Bank of India]] (RBI) were adequately prepared for this, resulting in currency shortages up to March 2018 and difficulties for Indian citizens.<ref name="hindu1">{{cite news |title=Modi not honest about black money – Jethmalani |url=http://www.thehindu.com/news/national/modi-not-honest-about-black-money-jethmalani/article19664523.ece |access-date=13 June 2018 |work=The Hindu }}</ref>

As per government figures, the number of income tax returns filed for 2016–17 grew by 25 per cent to 2.82 crores (compared to growth rate of 9.9% in the previous year), and the advance tax collections during that period rose 41.8% over the one-year period, as more individuals filed their tax returns after demonetization.<ref>{{cite news |url=http://www.thehindu.com/business/Economy/number-of-income-tax-returns-filed-goes-up-247/article19446415.ece?homepage=true/ |title=Number of income tax returns filed goes up 24.7% |newspaper=The Hindu }}</ref><ref>{{cite web |url=http://indianexpress.com/article/business/demonetisation-impact-nearly-25-per-cent-increase-in-income-tax-returns-filing-in-current-fiscal-year-says-cbdt-4786458/ |title=Demonetisation impact: Nearly 25 per cent increase in Income Tax Returns filing in current fiscal year, says CBDT }}</ref> By 28 December 2016, official sources said that the Income Tax department detected over {{INRConvert|41.72|b}} of un-disclosed income and seized new notes worth {{INRConvert|1.05|b}} as part of its country-wide operations. The department carried out a total of 983 search, survey and enquiry operations and has issued 5,027 notices to various entities on charges of tax evasion and [[hawala]]-like dealings. The department also seized cash and jewellery worth over {{INRConvert|5.49|b}} out of which the new currency seized (the majority of them ₹2000 notes) is valued at about {{INRConvert|1.05|b}}. The department also referred a total of 477 cases to other agencies like the CBI and the [[Enforcement Directorate]] (ED) to probe other financial crimes like [[money laundering]], [[disproportionate assets]] and corruption.<ref>{{cite news |title=I-T detects Rs 4,172 crore undisclosed income, seizes new note worth Rs 105 crore |url=http://economictimes.indiatimes.com/news/politics-and-nation/i-t-detects-rs-4172-crore-undisclosed-income-seizes-new-note-worth-rs-105-crore/articleshow/56242354.cms |access-date=29 December 2016}}</ref>

==Domestic black money==
''The Economic Times'' reported that Indian companies as well as politicians routinely misuse [[public trust]]s for money laundering. India has no centralized repository— like the registrar of companies for corporates—of information on public trusts.<ref>{{cite news |url=http://economictimes.indiatimes.com/news/economy/finance/how-indian-companies-are-misusing-public-trusts-to-launder-their-csr-spending/articleshow/49474584.cms |title=How Indian companies are misusing public trusts to launder money}}</ref>

==SIT and Supreme court case==
Noted jurist and former law minister [[Ram Jethmalani]] along with many other well known citizens filed a [[Prerogative writ|Writ Petition]] (Civil) No. 176 of 2009 in the [[Supreme Court of India]] (SC) seeking the court's directions to help bring back [[black money]] stashed in [[tax haven]]s abroad and initiate efforts to strengthen the governance framework to prevent further creation of [[black money]].<ref name="SC ordering formation of SIT - 4 July 2011">{{cite web |title=SC ordering formation of SIT – 4 July 2011 |url=http://courtnic.nic.in/supremecourt/temp/17620093472011p.txt |publisher=Supreme Court of India |access-date=15 September 2013}}</ref>

In January 2011, the SC asked why the names of those who have stashed money in the Liechtenstein Bank have not been disclosed.<ref>{{cite news |url=http://articles.timesofindia.indiatimes.com/2011-01-19/india/28371595_1_black-money-liechtenstein-bank-simple-theft |archive-url=https://web.archive.org/web/20120509202750/http://articles.timesofindia.indiatimes.com/2011-01-19/india/28371595_1_black-money-liechtenstein-bank-simple-theft |url-status=dead |archive-date=9 May 2012 |title=SC pulls up govt on black money issue |work=[[The Times of India]] |access-date=9 May 2011}}</ref> The court argued that the government should be more forthcoming in releasing all available information on what it called a "mind-boggling" amount of money that is believed to be held illegally in foreign banks.<ref>{{cite web |url=http://www.livemint.com/2011/01/19164527/SC-raps-govt-on-black-money-in.html |title=SC raps govt on black money in foreign banks – Economy and Politics |publisher=livemint.com |access-date=23 May 2011}}</ref>

The [[Supreme Court of India|SC]] on 4 July 2011, ordered the appointment of a Special Investigating Team (SIT) headed by former [[Supreme Court of India|SC]] judge BP Jeevan Reddy to act as a watch dog and monitor investigations dealing with the black money. This body would report to the [[Supreme Court of India|SC]] directly and no other agency will be involved in this. The two judge bench observed that the failure of the government to control the phenomenon of black money is an indication of weakness and softness of the government.<ref>{{cite news |url=http://news.outlookindia.com/items.aspx?artid=726624 |title=Black Money Probe: Supreme Court Appoints SIT |access-date=2 May 2012 |archive-url=https://web.archive.org/web/20140525200405/http://news.outlookindia.com/items.aspx?artid=726624 |archive-date=25 May 2014 |url-status=dead |df=dmy-all}}</ref>
{{Quotation|text=The issue of unaccounted monies held by nationals, and other legal entities, in foreign banks, is of primordial importance to the welfare of the citizens. The quantum of such monies may be rough indicators of the weakness of the State, in terms of both crime prevention, and also of tax collection. Depending on the volume of such monies, and the number of incidents through which such monies are generated and secreted away, it may very well reveal the degree of "softness of the State."|author=Justice B Sudershan Reddy and Justice S S Nijjar, [[Supreme Court of India]]|source=Source:<ref name="SC ordering formation of SIT - 4 July 2011"/>}}

The government subsequently challenged this order through [[Interlocutory appeal|Interlocutory Application]] No. 8 of 2011. The bench (consisting of Justice [[Altamas Kabir]] in place of Justice B Sudershan Reddy, since Justice Reddy retired) on 23 September 2011 pronounced a split verdict on whether government plea is maintainable. Justice [[Altamas Kabir|Kabir]] said that the plea is maintainable while Justice Nijjar said it is not. Due to this split verdict, the matter will be referred to a third judge.<ref name="SC order on IA 8 of 2011">{{cite web |title=SC order on IA 8 of 2011 |url=http://courtnic.nic.in/supremecourt/temp/wc%2017609p.txt |publisher=Supreme Court of India |access-date=29 July 2012 |author=Justice ALTAMAS KABIR |author2=Justice SURINDER SINGH NIJJAR |archive-url=https://web.archive.org/web/20111011230244/http://courtnic.nic.in/supremecourt/temp/wc%2017609p.txt |archive-date=11 October 2011 |url-status=live |location=New Delhi}}</ref><ref name="Black Money: SC Bench Split on Centre's Plea on SIT">{{cite news |url=http://news.outlookindia.com/items.aspx?artid=735890 |title=Black Money: SC Bench Split on Centre's Plea On SIT |access-date=2 May 2012 |archive-url=https://web.archive.org/web/20140525195806/http://news.outlookindia.com/items.aspx?artid=735890 |archive-date=25 May 2014 |url-status=dead |df=dmy-all}}</ref>

In April 2014, [[Indian Government]] disclosed to the [[Supreme Court of India|Supreme Court]] the names of 26 people who had accounts in banks in Liechtenstein, as revealed to India by German authorities.<ref name="bp">{{cite web |title=Govt discloses names of 26 Liechtenstein Bank Account Holders |url=http://news.biharprabha.com/2014/04/govt-discloses-names-of-26-liechtenstein-bank-account-holders/ |agency=Indo-Asian News Service |publisher=news.biharprabha.com |access-date=29 April 2014}}</ref>

On 27 October 2014, Indian Government submitted name of three people in an affidavit to the Supreme Court who have black money account in foreign countries.<ref>{{cite news |title=Dabur's Pradip Burman among 3 named for holding black money accounts abroad |url=http://timesofindia.indiatimes.com/india/Centre-names-3-black-money-account-holders-in-affidavit-to-SC/articleshow/44945687.cms |work=The Times of India |access-date=27 October 2014}}</ref> But on the very next day, Supreme Court of India orders centre Government to reveal all the names of black money account holders which they had received from various countries like Germany. The honorable bench of the Supreme court also asked the Centre not to indulge in any kind of probe rather just pass the names to them and Supreme court will pass the order for further probe.<ref>{{cite news |title=Black money: Supreme Court orders Centre to reveal all names by tomorrow |url=http://timesofindia.indiatimes.com/india/Black-money-Supreme-Court-orders-Centre-to-reveal-all-names-by-tomorrow/articleshow/44959922.cms |work=The Times of India |access-date=28 October 2014}}</ref>

But the facts were the other way round, as the clarification affidavit filed by the Finance Ministry on 27 October revealed.<ref>{{Cite web |url=https://rvaidya2000.com/2014/10/31/additional-affidavit-on-behalf-of-the-respondent-no-1-union-of-india-27-10-2014/ |title=ADDITIONAL AFFIDAVIT ON BEHALF OF THE RESPONDENT NO.1 – UNION OF INDIA – 27.10.2014 – (3) |last=Vaidyanathan |first=Prof |website=Vaidyanathan |access-date=1 May 2016}}</ref> The affidavit asserted that a complete list of cases where information had been obtained from the German and French governments, with the status of the action taken by the government was submitted by the Central Board of Direct Taxes on 27 June. It added that the CBDT officials also met and briefed the SIT on the status of the cases, background of the information received, non-sharing of information by Swiss authorities, and constraints faced by the government and alternative methods of securing account details.<ref>{{Cite web |url=http://www.newindianexpress.com/columns/s_gurumurthy/Legalism-and-Government-Stand-in-Black-Money-Case/2014/10/30/article2499040.ece |title=Legalism and Government Stand in Black Money Case |website=The New Indian Express |access-date=1 May 2016}}</ref>

On 12 May 2015, Ram Jethmalani attacked Modi Government for failing to bring back the Black money as was promised before Election.<ref>{{cite web |url=http://indiatoday.intoday.in/story/ram-jethmalani-attacks-modi-amit-shah-over-black-money/1/437650.html |title=Ram Jethmalani attacks Modi, Amit Shah for failing to bring back black money |access-date=29 July 2015}}</ref><ref>{{cite news |url=http://timesofindia.indiatimes.com/india/Modi-govt-has-no-intention-to-bring-black-money-Ram-Jethmalani/articleshow/46372130.cms |title=Modi govt has no intention to bring black money: Ram Jethmalani |work=The Times of India |access-date=29 July 2015}}</ref><ref>{{cite web |url=http://www.rediff.com/news/report/fraud-on-black-money-perpetuated-by-upa-nda-jethmalani-tells-sc/20150512.htm |title=Present govt will not recover black money: Jethmalani tells SC |access-date=29 July 2015}}</ref>

International tax lawyer Ashish Goel has argued that the Modi Government failed miserably to take steps to bring back black money stacked in foreign banks.<ref>{{cite web |url=https://thewire.in/political-economy/how-successful-was-modis-war-on-black-money-stashed-abroad |title=How Successful Was Modi's War on Black Money Stashed Abroad? |access-date=20 January 2019}}</ref><ref>{{cite web |url=https://www.telegraphindia.com/opinion/modi-s-achhe-din-remains-a-distant-dream/cid/1674777 |title=Modi's 'achhe din' remains a distant dream |access-date=20 January 2019}}</ref>

On 2 November 2015, [[HSBC]] whistleblower [[Herve Falciani]] said he is willing to "cooperate" with the Indian investigative agencies in [[black money]] probe but would need "protection". [[Prashant Bhushan]] and [[Yogendra Yadav]] furnished a letter written by Falciani on 21 August 2015, to Justice (retd) M B Shah, who is heading the SIT on black money.<ref name="economictimes.indiatimes.com">{{Cite news |url=http://economictimes.indiatimes.com/articleshow/49632029.cms |title=Black money: HSBC whistleblower Herve Falciani says illicit funds easily flowing out of India |newspaper=The Economic Times |access-date=8 October 2016}}</ref><ref>{{Cite news |url=http://indianexpress.com/article/india/india-news-india/blackmoney-hsbc-whistleblower-offers-to-cooperate-with-india/#sthash.judkJ1c4.dpuf |title=Black money: HSBC whistleblower offers to 'cooperate' with India |newspaper=The Indian Express |access-date=8 October 2016}}</ref> Under the supervision of the SIT the I-T department has recovered just around Rs 3,500 crore from some of the account holders and expected to recover a total of 10000 crore till March 2015.'''<ref>{{cite news |url=http://timesofindia.indiatimes.com/india/Govt-to-net-Rs-10000-crore-from-Swiss-bank-accounts-by-March-end-SIT/articleshow/46180794.cms |title=Govt to net Rs 10,000 crore from Swiss bank accounts by March-end: SIT |work=The Times of India |access-date=29 July 2015}}</ref>'''

===Double taxation agreements===
Indian Government has repeatedly argued before the Court that it cannot divulge the names. It has further argued that the privacy of individuals would be violated by the revelation of data. These arguments are only designed to stall the revelation of names of some favoured entities. BJP leader Dr. [[Subramanian Swamy]] said that [[Tax treaty|DTA]] was not a valid reason for not revealing names of the accounts of Indians held in foreign banks.<ref>{{cite web |url=http://indianexpress.com/article/india/india-others/no-valid-reason-given-for-not-disclosing-names-in-blackmoney-list-subramanian-swamy/#sthash.W34dniRn.dpuf |title=No valid reason given for not disclosing names in blackmoney list: Subramanian Swamy |work=The Indian Express |access-date=29 July 2015}}</ref><ref>{{cite web |url=http://www.india.com/top-n/black-money-list-subramanian-swamy-lists-6-steps-to-bring-back-black-money-in-an-open-letter-to-narendra-modi-186813/ |title=Black Money List: Subramanian Swamy lists 6 steps to bring back black money in an open letter to Narendra Modi |work=India.com |access-date=29 July 2015}}</ref>

DTA Agreement is about declared white incomes of entities so that tax may be levied in one or the other country and not in both. Black income is not revealed in either of the two countries so there is no question of double taxation. Further, this data would not be available to either of the two countries to be exchanged. It is no wonder then that till date, no data has been supplied to India by any of the countries with which this treaty has been signed. In brief, DTAA is about white incomes and not black incomes, so it is disingenuous to say that in future no data would be given to us if names are given to courts.<ref name="thehindu.com">{{cite news |url=http://www.thehindu.com/opinion/lead/lead-article-secrecy-in-the-name-of-privacy/article6553153.ece |title=Secrecy in the name of privacy |author=Arun Kumar |work=The Hindu |access-date=29 July 2015}}</ref>

===Criticism of government===
Different governments have tried to stall SIT.<ref>{{cite news |url=http://timesofindia.indiatimes.com/india/Black-money-Where-is-Rs-15-lakh-for-s-Indian-Congress-asks/articleshow/44977830.cms |title=Black money: Where is Rs 15 lakh for each Indian? Congress asks |work=The Times of India |access-date=29 July 2015}}</ref> A bank has been revealed to have acted like a "[[hawala]]" operator.<ref>{{Cite news |url=https://www.lawji.in/2018/09/black-money-in-india.html |title=Black Money in India {{!}} LawJi|work=LawJi.in : one-stop destination for all law students |access-date=18 September 2018 |archive-url=https://web.archive.org/web/20180918160749/https://www.lawji.in/2018/09/black-money-in-india.html |archive-date=18 September 2018 |url-status=dead}}</ref> Other MNC and private Indian banks are also suspected to have indulged in these activities.<ref name="thehindu.com" />

The HSBC Black money whistleblower [[Herve Falciani]], who works with a team of lawyers and experts, told NDTV that there is "1000 times more information" available for investigators and there are a lot of business procedures to be unveiled to them. "It's just up to (the Indian administration). They can contact us," he said. He said India was given only 2 MB of the 200 GB of data. "If India asks tomorrow we will send a proposal tomorrow," he added.<ref>{{cite web |url=http://www.ndtv.com/article/india/india-has-less-than-1-info-on-black-money-lots-more-i-can-offer-whistle-blower-herve-falciani-to-ndt-623319?curl=1416574701 |title='India has Less Than 1% Info on Black Money, Lots More I Can Offer': Whistle-blower Herve Falciani to NDTV |author=Noopur Tiwari |work=NDTV.com |access-date=29 July 2015}}</ref> On 2 November 2015, Falciani told in a press conference organised by [[Prashant Bhushan]] and [[Yogendra Yadav]] that, India has not used information on those illegally stashing away black money in foreign bank accounts, and still millions of crores were flowing out.<ref name="economictimes.indiatimes.com" /><ref>{{Cite web |url=http://www.newindianexpress.com/business/news/Information-on-Black-Money-Remains-Unused/2015/11/03/article3110794.ece |title=Information on Black Money Remains Unused |website=The New Indian Express |access-date=8 October 2016}}</ref><ref>{{Cite news |url=http://indianexpress.com/article/india/india-news-india/blackmoney-hsbc-whistleblower-offers-to-cooperate-with-india/ |title=Black money: HSBC whistleblower offers to 'cooperate' with India |newspaper=The Indian Express |access-date=8 October 2016}}</ref>

==Hasan Ali case==
Hasan Ali was arrested by [[Enforcement Directorate]] and the Income Tax Department on charges of stashing over ₹60 billion in foreign banks.<ref>{{cite web |url=http://ibnlive.in.com/generalnewsfeed/news/act-tough-on-black-money-kerala-cm-tells-pm/643409.html |title=Act tough on black money: Kerala CM tells PM, IBN Live News |publisher=Ibnlive.in.com |access-date=9 May 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110412161829/http://ibnlive.in.com/generalnewsfeed/news/act-tough-on-black-money-kerala-cm-tells-pm/643409.html |archive-date=12 April 2011}}</ref> ED lawyers said Hasan Ali had financed international arms dealer [[Adnan Khashoggi]] on several occasions.<ref name="HC questions Hasan Alis source of wealth">{{cite news |title=HC questions Hasan Ali's source of wealth |newspaper=[[The Times of India]] |url=http://articles.timesofindia.indiatimes.com/2011-07-29/india/29829035_1_international-arms-dealer-hasan-ali-khan-kashinath-tapuriah |access-date=13 February 2012 |archive-url=https://web.archive.org/web/20110913074655/http://articles.timesofindia.indiatimes.com/2011-07-29/india/29829035_1_international-arms-dealer-hasan-ali-khan-kashinath-tapuriah |url-status=dead |archive-date=13 September 2011}}</ref>

However, media sources claimed this case is becoming yet another perfect instance of how investigative agencies like Income Tax Department go soft on high-profile offenders.<ref name="Black money: Enforcement Directorate helped Hasan Ali Khan cover tracks">{{cite news |url=http://indiatoday.intoday.in/story/money-laundering-hasan-ali-khan-enforcement-directorate/1/168968.html |title=Black money: Enforcement Directorate helped Hasan Ali Khan cover tracks |access-date=13 February 2012}}</ref><ref name="Hasan Ali probe hits dead end2">{{cite news |url=http://articles.timesofindia.indiatimes.com/2011-11-30/india/30458491_1_hassan-ali-hasan-ali-kashinath-tapuriah |archive-url=https://web.archive.org/web/20131221095822/http://articles.timesofindia.indiatimes.com/2011-11-30/india/30458491_1_hassan-ali-hasan-ali-kashinath-tapuriah |url-status=dead |archive-date=21 December 2013 |title=Hasan Ali probe hits dead end |work=[[The Times of India]] |access-date=13 February 2012}}</ref><ref name="Black money: Enforcement Directorate going soft on Hasan Ali Khan is a comment on our system">{{cite news |url=http://indiatoday.intoday.in/story/black-money-enforcement-directorate-going-soft-on-hasan-ali/1/169163.html |title=Black money: Enforcement Directorate going soft on Hasan Ali Khan is a comment on our system |access-date=13 February 2012}}</ref><ref name="ED HELPED HASAN ALI COVERTRACKS">{{cite news |url=http://epaper.mailtoday.in/epapermain.aspx?queryed=9&querypage=1&boxid=25815484&parentid=63623&eddate=01/16/12 |title=ED HELPED HASAN ALI COVERTRACKS |access-date=13 February 2012}}</ref> Hasan Ali's premises were raided by ED as far back as 2016. According several news reports, the probe against him has proceeded at an extremely slow pace and seems to have hit a dead end.<ref name="Hasan Ali probe hits dead end">{{cite news |url=http://articles.timesofindia.indiatimes.com/2011-11-30/india/30458491_1_hassan-ali-hasan-ali-kashinath-tapuriah |archive-url=https://web.archive.org/web/20131221095822/http://articles.timesofindia.indiatimes.com/2011-11-30/india/30458491_1_hassan-ali-hasan-ali-kashinath-tapuriah |url-status=dead |archive-date=21 December 2013 |title=Hasan Ali probe hits dead end |work=[[The Times of India]] |access-date=4 March 2012}}</ref><ref name="Billions, gone with the hawa(la)!">{{cite news |url=https://www.digitalworldeconomy.com/economy/more-than-one-lakh-shell-companies-listed-by-sfio-as-a-war-against-black-money-1248 |title=More than One Lakh shell companies listed by SFIO as a war against black money |author=Kumar |first=Rahul |work=Digital World Economy |access-date=9 June 2018}}{{cbignore|bot=medic}}</ref><ref name="ED officer suspended for slow pace of Hasan Ali probe">{{cite news |url=http://indiatoday.intoday.in/story/hasan-ali-case-ed-officer-suspended-for-slow-pace-of-probe/1/137249.html |title=ED officer suspended for slow pace of Hasan Ali probe |work=India Today |access-date=4 March 2012}}</ref><ref name="SC pulls up Centre on Hasan Ali case">{{cite news |url=http://articles.timesofindia.indiatimes.com/2011-05-05/india/29512018_1_petitioner-ram-jethmalani-sc-raps-govt-status-report |archive-url=https://web.archive.org/web/20131221095808/http://articles.timesofindia.indiatimes.com/2011-05-05/india/29512018_1_petitioner-ram-jethmalani-sc-raps-govt-status-report |url-status=dead |archive-date=21 December 2013 |title=SC pulls up Centre on Hasan Ali case |work=[[The Times of India]] |access-date=4 March 2012}}</ref><ref name="ED official in the dock for 'helping' Hasan Ali, aides">{{cite news |url=http://www.indianexpress.com/news/ed-official-in-the-dock-for-helping-hasan-ali-aides/787084/0 |title=ED official in the dock for 'helping' Hasan Ali, aides |work=The Indian Express |access-date=4 March 2012}}</ref><ref name="Shame them! Black money held abroad is not just a tax issue">{{cite news |url=http://www.firstpost.com/economy/shame-them-black-money-held-abroad-is-not-just-a-tax-issue-145692.html |title=Shame them! Black money held abroad is not just a tax issue |access-date=4 March 2012 |author=R Vaidyanathan – Prof of finance and control, IIM Baglore}}</ref>

Today claimed that it had verified a letter confirming the US$8 billion in black money was in UBS bank account, and the government of India too has verified this with UBS.<ref>{{cite news |title=Who is Hasan Ali Khan? |work=India Today |url=http://indiatoday.intoday.in/story/who-is-hassan-ali-khan/1/131363.html}}</ref>

The UBS bank has denied Indian reports alleging that it maintained a business relationship with or had any assets or accounts for Hasan Ali. Upon formal request by Indian and Thailand government authorities, the bank announced that the documentation supposedly corroborating such allegations were forged, and numerous media reports claiming US$8 billion in stashed black money were false.<ref>{{cite news |title=Swiss bank UBS denies any dealings with Hasan Ali Khan |work=Deccan Herald |url=http://www.deccanherald.com/content/138299/ipl-2012.html}}</ref><ref>{{cite news |title=Documents in Hasan Ali money-laundering case forged: Swiss Bank |work=The Economic Times |author=M Padmakshan |url=http://articles.economictimes.indiatimes.com/2011-02-17/news/28555039_1_money-laundering-swiss-authorities-swiss-bank}}</ref> Today, in a later article, wrote, "Hasan Ali stands accused of massive tax evasion and stashing money in secret bank accounts abroad. But the problem is that the law enforcement agencies have precious little evidence to back their claims. For one, UBS Zurich has already denied having any dealings with Hasan Ali."<ref>{{cite news |title=ED lacks evidence on Hasan Ali Khan |work=India Today |url=http://indiatoday.intoday.in/story/ed-lacks-evidence-on-hasan-ali-khans-ubs-account/1/131873.html}}</ref>

==Estimates==
As Schneider estimates, using the dynamic multiple-indicators multiple-causes method and by currency demand method, the size of India's black money economy is between 23 and 26%, compared to an Asia-wide average of 28 to 30%, to an Africa-wide average to 41 to 44%, and to a Latin America-wide average of 41 to 44% of respective gross domestic products. According to this study, the average size of the shadow economy (as a percent of "official" GDP) in 96 developing countries is 38.7%, with India below average.<ref>{{cite web |title=Shadow Economies and Corruption All Over the World: What Do We Really Know? |author=Friedrich Schneider |publisher=Institute for the Study of Labor (IZA Bonn) |url=http://ftp.iza.org/dp2315.pdf}}</ref><ref name="lw">{{cite book |title=The Underground Economy: Global Evidence of Its Size and Impact |author=Owen Lippert, Michael Walker |isbn=978-0889751699 |url-access=registration |url=https://archive.org/details/undergroundecono0000unse_c9p1}}</ref><ref>{{cite web |title=Informal and Underground Economy |author=Frey and Schneider |year=2000 |url=http://faculty.nps.edu/relooney/3041_MT_2.pdf}}</ref>

==Public protests and government's response==
{{further|2011 Indian anti-corruption movement|Corruption in India}}

In May 2012, the Government of India published a white paper on black money. It disclosed India's effort at addressing black money and guidelines to prevent black money in the future.<ref name="fm2012" />

===MC Joshi committee===
After a series of ongoing [[2011 Indian anti-corruption movement|demonstrations and protests across India]], the government appointed a high-level committee headed by MC Joshi (the then [[CBDT Chairman]]<ref name="M C Joshi takes over as CBDT new Chairman">{{cite news |title=M C Joshi takes over as CBDT new Chairman |url=http://post.jagran.com/M-C-Joshi-takes-over-as-CBDT-new-Chairman-1312212830 |access-date=10 August 2012 |newspaper=Jagran Post }}</ref>) in June 2011 to study the generation and curbing of black money. The committee finalised its draft report on 30 January 2012. Its key observation and recommendations were:<ref name="Panel calls for amnesty to get back black money">{{cite news |url=http://www.indianexpress.com/news/panel-calls-for-amnesty-to-get-back-black-money/910358/0 |title=Panel calls for amnesty to get back black money |access-date=9 February 2012}}</ref>
# The two major national parties (an apparent reference to [[Indian National Congress]], BJP) claim to have incomes of merely {{INRConvert|5|b}} and {{INRConvert|2|b}}. But this isn't "even a fraction" of their expenses. These parties spend between {{INRConvert|100|b}} and {{INRConvert|150|b}} annually on election expenses alone.<ref name="Panel calls for amnesty to get back black money" />
# Change maximum punishment under [[Prevention of Corruption Act, 1988|Prevention of Corruption Act]] from the present 3, 5 and 7 years to 2, 7 and 10 years rigorous imprisonment and also changes in the years of punishment in the [[The Income-tax Act, 1961|Income Tax Act]].<ref name="Panel calls for amnesty to get back black money" />
# Taxation is a highly specialised subject. Based on domain knowledge, set up all-India judicial service and a National Tax Tribunal.<ref name="Panel calls for amnesty to get back black money" />
# Just as the USA [[Patriot Act]] under which global financial transactions above a threshold limit (by or with Americans) get reported to law enforcement agencies, India should insist on entities operating in India to report all global financial transactions above a threshold limit.<ref name="Panel calls for amnesty to get back black money" />
# Consider introducing an [[amnesty]] scheme with reduced penalties and immunity from prosecution to the people who bring back black money from abroad.<ref name="Panel calls for amnesty to get back black money" />

===Tax Information Exchange Agreements===
To curb black money, India has signed TIEA with 13 countries—[[Gibraltar]], Bahamas, [[Bermuda]], the [[British Virgin Islands]], the [[Isle of Man]], the [[Cayman Islands]], [[Jersey]], Liberia, Monaco, [[Macau]], Argentina, [[Guernsey]] and Bahrain – where money is believed to have been stashed away. India and Switzerland, claims a report, have agreed to allow India to routinely obtain banking information about Indians in Switzerland from 1 April 2011.<ref>{{cite news |url=http://www.thehindu.com/news/national/article1201001.ece |location=Chennai, India |work=The Hindu |title=Bank deposits outside India will be a taxable asset }}</ref>

In June 2014, the Finance Minister Arun Jaitely on behalf of the Indian government requested the Swiss Government to hand over all the bank details and names of Indians having unaccounted money in Swiss banks.<ref>{{cite web |url=http://indiatoday.intoday.in/story/black-money-india-writes-to-switzerland-seeks-details-on-secret-accounts/1/369138.html |title=Black money menace: India writes to Switzerland, seeks details on secret accounts |access-date=29 July 2015}}</ref>

==Demonetisation of 500 and 1000 rupee currency notes==
{{main|Indian 500 and 1000 rupee currency demonetisation}}

Following recommendations from the OECD on curbing black money on 22–23 February 2014 and previous moves by the RBI, on the night of 8 November 2016 the Indian Government decided to ban old notes and change them with new 500 and 2000 rupee notes. Similar moves had been made earlier in pre-independence era in 1946 and also in 1978 by the first non-Congress government called [[Janata government]].<ref>{{cite news |title=A Look Back to 1978 When Currency Notes Were Last Scrapped |url=https://www.thequint.com/india/2016/11/09/rs-500-1000-notes-scrapped-narendra-modi-a-look-back-at-1977-when-notes-were-scrapped-demonetization-black-money-rbi |access-date=10 November 2016}}</ref> ATMs all over India remained closed for two days and banks for one day. Also, until 31 December, people were only allowed to withdraw Rs 2,500 maximum per day from ATMs, Rs 24,000 per week from banks.<ref name="Withdrawal_Revision">{{cite web |title=Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Revision in limits |url=https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=10706&Mode=0}}</ref> Online bank transactions have been granted exemption from such limits. The issuing of the ₹2000 sought to throw hoarders of black money off by rendering the cash money they held in large denomination currency notes as useless. This meant they would need to get the notes exchanged at a bank or post office, which would be near impossible due to the exchange limits. Additionally, banks and authorities would question the large amounts of cash held by many hoarders, who now risked an official investigation being launched into their money situation. Economists and financial analysts believe that a large percentage of black money being held in cash in India would now be brought into the mainstream economy through the banks, which would bolster economic growth over the long term. Furthermore, the move is also intended as a way to cut down on the funding of terrorism, by rendering useless the large currency denominations of black money or counterfeit currency being paid to [[sleeper cell]]s.<ref>{{cite web |url=http://www.ndtv.com/india-news/pm-modi-speaks-to-nation-tonight-at-8-pm-1622948 |title=PM Modi Announces Notes Ban In Anti-Corruption Move, Millions Face Cash Crunch}}</ref>

===Previous Information===
In 2012, the [[Central Board of Direct Taxes]] had recommended demonetisation, saying in a report that "demonetisation may be a solution for tackling black money or economy, although it is largely held in the form of [[Benami Transactions (Prohibition) Act, 1988|benami properties]], bullion and jewellery".<ref>{{cite web |url=http://indianexpress.com/article/business/banking-and-finance/demonetisation-black-money-corruption-banks-atms-modi-finance-ministry4375205/ |title=At least 4 months needed to replace demonetised notes, not 50 days: Here's why |work=The Indian Express}}</ref><ref>{{cite web |url=https://dor.gov.in/sites/upload_files/revenue/files/Measures_Tackle_BlackMoney.pdf |title=Request Rejected |website=dor.gov.in |access-date=15 January 2022 |archive-url=https://web.archive.org/web/20200924171402/https://dor.gov.in/sites/upload_files/revenue/files/Measures_Tackle_BlackMoney.pdf |archive-date=24 September 2020 |url-status=dead}}</ref> According to data from income tax probes, black money holders keep about 9% of their ill-gotten wealth as cash, hence targeting this cash may be considered as a successful strategy.<ref>{{cite web |url=http://www.hindustantimes.com/india-news/cash-has-only-6-share-in-black-money-seizures-reveals-income-tax-data/story-JfFuTiJYtxKwJQhz2ApxlL.html |title=Why govt's demonetisation move may fail to win the war against black money |work=Hindustan Times |access-date=12 November 2016 |author=Appu Esthose Suresh}}</ref>

On 28 October 2016 the total banknotes in circulation in India was {{INRConvert|17.77|t}}. In terms of value, the annual report of Reserve Bank of India (RBI) of 31 March 2016 stated that total bank notes in circulation valued to {{INRConvert|16.42|t}} of which nearly 86% (around {{INRConvert|14.18|t}}) were ₹500 and ₹1,000 banknotes.<ref>{{cite web |url=http://www.indiatimes.com/news/india/three-months-after-demonetisation-rbi-is-still-counting-the-banned-notes-which-came-back-271329.html |title=Three Months After Demonetisation, RBI Is Still Counting The Banned Notes Which Came Back |access-date=8 March 2017}}</ref> In terms of volume, the report stated that 24% (around 22.03 billion) of the total 90266 million banknotes were in circulation.<ref name="equipped">{{cite web |url=http://indianexpress.com/article/opinion/web-edits/rs-500-rs-1000-notes-are-banks-equipped-to-replace-1874-crore-pieces-of-notes-4364746/ |title=Are banks equipped to replace 2,300 crore pieces of Rs 500 and Rs 1,000 notes? |work=[[The Indian Express]] |access-date=9 November 2016 |author=Damodaran, Harish}}</ref>

In the past, the [[Bharatiya Janata Party]] (BJP) had opposed demonetisation. BJP spokesperson [[Meenakshi Lekhi]] had said in 2014 that "The ''aam aurat''s and the ''aadmi''s (general population), those who are illiterate and have no access to banking facilities, will be the ones to be hit by such diversionary measures."<ref>{{cite web |url=http://www.hindustantimes.com/india-news/the-measure-is-anti-poor-when-bjp-opposed-demonetisation-during-upa-govt/story-1HSYEYCaX3SaIsRS6q2rhJ.html |title=The measure is 'anti-poor': When BJP opposed demonetisation during UPA govt |work=Hindustan Times |access-date=12 November 2016 |author=Kumar Uttam}}</ref><ref>{{cite web |url=http://www.huffingtonpost.in/2016/11/11/bjp-had-a-very-different-view-on-demonetisation-in-2014/ |title=BJP Had A Very Different View on Demonetisation in 2014 |publisher=Huffingtonpost.in |author=Betwa Sharma |access-date=12 November 2016 |archive-url=https://web.archive.org/web/20161112143809/http://www.huffingtonpost.in/2016/11/11/bjp-had-a-very-different-view-on-demonetisation-in-2014/ |archive-date=12 November 2016 |url-status=dead}}</ref><ref>{{cite web |url=http://indianexpress.com/article/india/india-news-india/demonetisation-bjp-aap-currency-ban-4370935/ |title=Explain opposition to similar move by UPA: AAP to BJP on demonetisation |work=The Indian Express |access-date=12 November 2016}}</ref><ref>{{cite web |url=http://blogs.timesofindia.indiatimes.com/sanjeev-singh-blog/how-bjp-had-termed-demonetisation-as-anti-poor-in-2014/ |title=How BJP had termed demonetisation as 'anti-poor' in 2014 |work=The Times of India |access-date=12 November 2016}}</ref>

The Government of India devised an Income Declaration Scheme (IDS), which opened on 1 June and ended on 30 September 2016. Under the scheme, the [[black money]] holders could come clean by declaring the assets, paying the tax and penalty of 45% thereafter.<ref name="Firstpost 2016">{{cite web |title=Rs 500, Rs 1000 banned; Rs 2000 to come: Did we miss these Twitter, RBI hints? |website=Firstpost |url=http://www.firstpost.com/politics/rs-500-rs-1000-banned-rs-2000-to-come-did-we-miss-these-twitter-rbi-hints-3095984.html |access-date=29 November 2016}}</ref>

Modi said that the queues due to demonetisation were the last queues that would end all other queues.<ref>{{cite web |url=http://indianexpress.com/article/india/pm-narendra-modis-top-quotes-parivartan-rally-moradabad-this-queue-is-the-last-queue-to-end-all-queues-4408467/ |title=This queue is the last queue to end all queues: PM Modi's top quotes at Parivartan rally }}</ref><ref>{{cite news |url=http://timesofindia.indiatimes.com/india/A-queue-to-end-all-queues-PM-Narendra-Modi-hard-sells-demonetisation-in-Moradabad/articleshow/55770739.cms |title='A queue to end all queues': PM Narendra Modi hard-sells demonetisation in Moradabad – Times of India |website=[[The Times of India]]}}</ref>

==Proposals to prevent Indian black money==
===History===
Even in colonial India, numerous committees and efforts were initiated to identify and stop underground economy and black money with the goal of increasing the tax collection by the British Crown government. For example, in 1936 Ayers Committee investigated black money from the Indian colony. It suggested major amendments to protect and encourage the honest taxpayer and effectively deal with fraudulent evasion.<ref>{{cite book |title=Income tax enquiry report, 1936, submitted to the Government of India as a result of the investigation of the Indian income-tax system |author=Ayers, Chambers and Vachha |year=1936 |url=https://books.google.com/books?id=SDxJAAAAYAAJ}}</ref>

===Current Proposals===
In its white paper on black money, India has made the following proposals to tackle its underground economy and black money.<ref name="fm2012" />

===Reducing disincentives against voluntary compliance===
Excessive tax rates increase black money and tax evasion. When tax rates approach 100 per cent, tax revenues approach zero, because higher is the incentive for tax evasion and greater the propensity to generate black money. The report finds that punitive taxes create an economic environment where economic agents are not left with any incentive to produce.

Another cause of black money, the report finds is the high transaction costs associated with compliance with the law. Opaque and complicated regulations are other major disincentive that hinders compliance and pushes people towards underground economy and creation of black money. Compliance burden includes excessive need for compliance time, as well as excessive resources to comply.

Lower taxes and simpler compliance process reduces black money, suggests the white paper.<ref name="fm2012" />

===Banking transaction tax===
Arthakranti, Pune-based think-tank has outlined policy prescription that involves replacement of most direct and indirect levies with a banking transaction tax and de-monetisation of currency notes of Rs 500 and Rs 1,000 to help prevent Indian black money, ease inflation, improve employment generation and also lower corruption.<ref>{{cite news |url=http://www.business-standard.com/article/beyond-business/baba-ramdev-could-be-the-next-adam-smith-114012400538_1.html |title=Baba Ramdev could be the next Adam Smith |author=BS |newspaper=Business Standard India |access-date=29 July 2015}}</ref><ref>{{cite web |url=http://www.financialexpress.com/news/baba-ramdev-pushes-for-banking-transaction-tax-to-replace-all-taxes/1218784 |title=Baba Ramdev pushes for banking transaction tax to replace all taxes |author=Surabhi |work=The Financial Express |access-date=29 July 2015}}</ref>

===Economic liberalisation===
The report suggests that non-tariff barriers to economic activity such as permits and licences, long delays in getting approvals from government agencies are an incentive to proceed with underground economy and hide black money. When one can not obtain a licence to undertake a legitimate activity, the transaction costs approach infinity, and create insurmountable incentives for unreported and unaccounted activities that will inevitably generate black money. The successive waves of economic liberalisation in India since the 1990s have encouraged compliance and taxes collected by the government of India have dramatically increased over this period. The process of economic liberalisation must be relentlessly continued to further remove underground economy and black money, suggests the report.<ref name="fm2012" />

===Reforms in vulnerable sectors of the economy===
Certain vulnerable sectors of Indian economy are more prone to underground economy and black money than others. These sectors need systematic reforms. As example, the report offers gold trading, which was one of the major sources of black money generation and even crime prior to the reforms induced in that sector. While gold inflows into India have remained high after reforms, gold smuggling is no longer the menace as it used to be. Similar effective reforms of other vulnerable sectors like real estate, the report suggests can yield a significant dividend in the form of reducing generation of black money in the long term.

The real estate sector in India constitutes about 11 per cent of its GDP. Investment in property is a common means of parking unaccounted money and a large number of transactions in real estate are not reported or are under-reported. This is mainly on account of very high levels of property transaction taxes, commonly in the form of stamp duty. High transaction taxes in property are one of the biggest impediments to the development of an efficient property market. Real estate transactions also involve complicated compliance and high transactions costs in terms of search, advertising, commissions, registration, and contingent costs related to title disputes and litigation. People of India find it easier to deal with real estate transactions and opaque paperwork by paying bribes and through cash payments and under-declaration of value. Unless the real estate transaction process and tax structure is simplified, the report suggests this source of black money will be difficult to prevent. Old and complicated laws such as the [[Urban Land Ceiling Regulation Act]] and [[Rent Control Act]] need to be repealed, property value limits and high tax rates eliminated, while Property Title Certification system dramatically simplified.<ref name="fm2012" />

Other sectors of Indian economy needing reform, as identified by the report, include equity trading market, mining permits, bullion and non-profit organisations.

===Creating effective credible deterrence===
Effective and credible deterrence is necessary in combination with reforms, transparency, simple processes, elimination of bureaucracy and discretionary regulations. Credible deterrence needs to be cost effective, claims the report.<ref name="fm2012" /> Such deterrence to black money can be achieved by information technology (integration of databases), integration of systems and compliance departments of the Indian government, direct tax administration, adding data mining capabilities, and improving prosecution processes.

===Supportive measures===
Along with deterrence, the report<ref name="fm2012" /> suggests public awareness initiatives must be launched. Public support for reforms and compliance are necessary for long-term solution to black money. In addition, financial auditors of companies have to be made more accountable for distortions and lapses. The report suggests Whistleblower laws must be strengthened to encourage reporting and tax recovery.

===Amnesty===
Amnesty programmes have been proposed to encourage voluntary disclosure by tax evaders. These voluntary schemes have been criticized on the grounds that they provide a premium on dishonesty and are unfair to honest taxpayers, as well as for their failure to achieve the objective of unearthing undisclosed money. The report<ref name="fm2012" /> suggests that such amnesty programmes can not be an effective and lasting solution, nor one that is routine.

===Excessive demonetised currency notes===
After the recent demonetisation of old 500 and 1000 Rs notes, Reserve Bank of India (RBI) collected these notes in excess of (more than INR 2 trillions) what it had officially released into circulation earlier.<ref name="equipped" /> The value of fake notes received by RBI is negligible compared to total value. GoI shall conduct thorough probe to reveal how it has happened and bring to book the culprits. This could have happened by unscrupulous politicians yielding power with the connivance of RBI top brass to plunder wealth of the nation.

===International enforcement===
India has Double Tax Avoidance Agreements with 82 nations, including all popular tax haven countries. Of these, India has expanded agreements with 30 countries which requires mutual effort to collect taxes on behalf of each other, if a citizen attempts to hide black money in the other country. The report<ref name="fm2012" /> suggests that the Agreements be expanded to other countries as well to help with enforcement.

===Modified currency notes===
Government printing of such legal currency notes of highest denomination i.e.; {{INRConvert|1000}} and {{INRConvert|500}} which remain in the market for only 2 years. After a 2-year period is expired there should be a one-year grace period during which these currency notes should be submitted and accepted only in bank accounts. Following this grace period the currency notes will cease to be accepted as legal tender or destroyed under the instructions of The Reserve Bank of India. As a consequence turning most of the unaccountable money into accountable and taxable money.

===Holding United States currency===
Many people in India who want to stash black money keep it as cash in US$ which will fetch appreciation in its value also as the INR gets devalued against US currency. GoI should tighten the rules to prevent acquiring/holding of the foreign currency (FC) cash in huge quantities by tracking cash transactions in US$ and limiting FC availability in small value through reputed banks / authorised firms by cashless transaction only. Smuggling of US$ into the country by NRIs, foreign tourists shall be curbed at entry ports. NRIs / foreign tourists shall conduct cashless transactions for acquiring INR currency, etc. All Indians who are going abroad should use international credit / debit cards instead of carrying US$ in cash with them. This would also prevent international trade in narcotics, terrorist funding, etc.

===Corruption in education===
{{further|Capitation fee}}
Many institutions that are meant to provide education have been promoting corruption, and education has been a major contributor to domestic black money in India. Single common entrance exams for various professional courses (medicine and allied, engineering and allied, business management and allied),<ref>{{cite web |url=http://www.ebc-india.com/lawyer/sp_case_comment/submissions_3.htm |title=Additional Submissions of Soli J. Sorabjee, Attorney-General for India as Amicus Curiae |publisher=Eastern Book Company |access-date=4 September 2016}}</ref> releasing the audited financial statements of the trusts/not-for-profit organizations that own these educational institutions in the public domain (website, a common e-repository), stoppage of government funds from AICTE, DST etc. to such institutions, are some of the suggestions to reduce the generation of black money in education.<ref>{{cite news |url=http://www.business-standard.com/article/pti-stories/madras-hc-orders-issue-of-notice-to-it-department-116070401144_1.html |access-date=4 September 2016 |title=Madras HC orders issue of notice to IT department |newspaper=Business Standard India |via=Business Standard News |agency=Press Trust of India}}</ref>
As per a report submitted by National Institute of Public Finance and Policy (NIPFP) to the Finance Ministry in December 2013, the capitation fees collected by private colleges, on management quota seats in professional courses, the previous year was around Rs 5,953 crores.<ref>{{cite web |url=http://www.thehindu.com/news/national/black-economy-now-amounts-to-75-of-gdp/article6278286.ece |title=Black economy now amounts to 75% of GDP |work=The Hindu |first=Puja |last=Mehra}}</ref>

===Withdrawal of currency notes of higher denomination===
There have been suggestions to withdraw currency notes of higher denominations, such as the 2000 rupee notes.<ref>{{cite web |url=http://udayindia.in/2011/06/18/this-fight-is-against-deep-rooted-corruption-in-the-system-baba-ramdev/ |title="This Fight Is Against Deep-Rooted Corruption In The System" —Baba Ramdev }}</ref><ref>{{cite web |url=http://www.livemint.com/Opinion/mnhjNJZTxSZvcNNuJ8V2rN/Retiring-the-1000-rupee-note.html?facet=print |title=Retiring the 1,000 rupee note – Print View – Livemint |website=livemint.com }}</ref><ref>{{Cite web |url=http://www.firstpost.com/printpage.php?idno=354908&sr_no=0 |title=Archived copy |access-date=14 October 2016 |archive-url=https://web.archive.org/web/20161108230933/http://www.firstpost.com/printpage.php?idno=354908&sr_no=0 |archive-date=8 November 2016 |url-status=dead}}</ref> While this could lead to an increase in printing costs for the RBI, these costs should be weighed against the costs for misuse of high-value notes.<ref>{{cite web |url=http://www.livemint.com/Politics/fhNlITluEPxCOHef3GSA6H/Scrapping-Rs500-Rs1000-notes-a-costly-idea.html?facet=print |title=Scrapping Rs500, Rs1000 notes a costly idea – Print View – Livemint |website=livemint.com }}</ref>

==Books==

Black money in India has been a popular subject of discussion but not many books have been authored on the subject.

Books that have been authored on the subject of black money in India include:

# ''The Black White & Grey: Re-coloring the Rupiah'' by [[Pragun Akhil Jindal]]<ref name="auto">{{cite news |url=http://www.business-standard.com/article/news-ians/book-on-black-money-launched-in-delhi-116121400627_1.html |title=Book on black money launched in Delhi |last=IANS |work=Business Standard}}</ref><ref name="indiatimes.com">{{Cite web |url=https://toistudent.timesofindia.indiatimes.com/news/interviews/this-author-has-decoded-black-money/7954.html |title=This Author Has Decoded Black Money }}</ref><ref name="odishastory.com">{{cite web |url=http://www.odishastory.com/tag/the-black-white-grey/ |title=The Black White & Grey – ODISHA STORY |website=odishastory.com |access-date=3 May 2017 |archive-date=5 August 2017 |archive-url=https://web.archive.org/web/20170805102507/http://www.odishastory.com/tag/the-black-white-grey/ |url-status=dead }}</ref><ref name="specttrumnews.com">{{cite web |url=http://specttrumnews.com/news/3018-the-black-and-white-sides-of-money-explained-in-a-new-book.aspx |title=The black and white sides of money explained in a new book |website=specttrumnews.com |access-date=3 May 2017 |archive-url=https://web.archive.org/web/20170805102014/http://specttrumnews.com/news/3018-the-black-and-white-sides-of-money-explained-in-a-new-book.aspx |archive-date=5 August 2017 |url-status=dead}}</ref><ref name="pressreader.com">{{cite web |url=https://www.pressreader.com/india/the-asian-age/20170125/283210147950101 |title= |via=PressReader}}</ref><ref name="sify.com">{{cite web |url=http://www.sify.com/news/book-on-black-money-launched-in-delhi-news-others-qmoqueigcffha.html |archive-url=https://web.archive.org/web/20170805105208/http://www.sify.com/news/book-on-black-money-launched-in-delhi-news-others-qmoqueigcffha.html |url-status=dead |archive-date=2017-08-05 |title=Book on black money launched in Delhi|website=[[Sify]] }}</ref><ref name="thehindu.com1">{{cite news |url=http://www.thehindu.com/news/national/Deposits-scrutiny-a-challenge-says-ex-CBDT-chief/article16900735.ece |title=Deposits scrutiny a challenge, says ex-CBDT chief |newspaper=The Hindu |last1=Dhoot |first1=Vikas}}</ref>
#''The Black Economy'' by Arun Kumar

===''The Black White & Grey''===

The book ''The Black White & Grey: Re-Coloring The Rupiah'', authored by [[Pragun Akhil Jindal|Pragun Jindal]] and published by Money Worries, looks at the black money menace and ways to curb it.

Senior Congress Leader [[Manish Tewari]] and political commentator [[Paranjoy Guha Thakurta]] on 13 December 2016 launched the book, which attempts to debunk "a lot of lies, unknown facts and baseless rumours about Black Money".

"A delinquent like poverty only affects the poor, unemployment affects those who are unemployed, alcoholism and drug abuse affect those who devour them, black money is a hitch which does not affect persons who amass 'black dough' but it affects the common man in the populace", said the author at the book's launch event.<ref name="auto" /><ref name="indiatimes.com" /><ref name="odishastory.com" /><ref name="specttrumnews.com" /><ref name="pressreader.com" /><ref name="sify.com" /><ref name="thehindu.com1" />

==Estimates of Black Money in India by various organizations==
{| class="wikitable"
|-
! '''Organization''' !! '''Estimation of Black money in India'''
|-
| International Monetary Fund || 50% of gross domestic product
|-
| Central Bureau of Investigation (India) || ₹28 lakh crores
|-
| World Bank || 20% of gross domestic product
|}
In India, there is a lack of deterrent punishment for holding black money. As per one survey Between 2008 and 2012, more than 20,000 cases of corruption were filed and only 20 percent of cases reached final conclusion.

[[Economy of India|Indian economy]] is also called parallel economy or shadow economy because it is very difficult to distinguish between black money and white money of the total money circulated in the economy.

It is important to mention that Black money is generated by one person but its effect is felt by another person. For Instance, the government is not able to form and implement apt social welfare policies for poor and disadvantaged people of society due to low level of tax revenue as people holding black money do not pay taxes

It is also important to mention that black money can also be generated by legal sources also. For Instance, those government doctors and teachers who do private practice at home violate laws as they are not allowed to do private practice and consequently do tax evasion by not disclosing taxable income. This results in the generation of black money as it affects the tax revenue of the government.

Moreover, some forms of betting are legal (not counted in black money) in India like winning money from horse races.

==See also==
{{portal|India|Money}}
*[[Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015]]
*[[Corruption in India]]
*[[Debt bondage in India]]
*[[The Gold (Control) Act, 1968|Gold import policy of India]]
*[[Nagarwala case]]
*[[List of scandals in India]]
*[[2012 Indian anti-corruption movement]]
*[[2011 Indian anti-corruption movement]]
*[[International asset recovery]]
*[[United Nations Convention against Corruption]]

==References==
{{Reflist}}

==External links==
*[https://hinduism.stackexchange.com/q/15784/18848 Dharma Shastras on Black Money, Corruption and paying Interest]

{{Asia topic|Informal economy of}}

{{DEFAULTSORT:Indian Black Money}}
[[Category:Corruption in India]]
[[Category:Tax evasion in India]]
[[Category:Wealth in India]]
[[Category:Informal economy in Asia]]
[[Category:Black markets]]