As we all know, that in prehistoric time our country, India was famous as Golden Bird due to the reason that our populaces were more enlightened with respect to synchronization and teamwork, functioned in very fervent & frank manner in order to provide true results of their functioning to each and every person without any self-interest or jealousy. It implies that the people were not apprehended about their salary and not compare with other people. They concentrated on the wellbeing of the nation in complete terms rather than self. So that time, we were having the great economy in the world and great Education system as well. But as the country developed we moved towards the use of Black Money and did many scams such as Vyapam Scam (most common in all) to a large extent and thus the concept of money laundering came into being.
In early times, the manner of earning money was very apparent i.e. each and every person knows the origins of money and its use, and thus called white money. But nowadays it has been changed to Black Money.
Black Money is the total of income generated from all the sources but has not been reported to the authorities, which are taxable. This is done to avoid taxes.
Black Money in Swiss Bank Accounts: India has fallen down to seventieth place with respect to foreign money deceit at Swiss Bank accounts for measly 0.10 % of total inclusive wealth stored in the country’s banking organizations. Even the CBI is not being able to retain the money back in our country.
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Donations to Educational Institutions Converted to Black Money
The profound donations compensated for admissions in Educational Institutions of advanced learning & yet hefty corporate Educational Institutions are yet another huge origin of generating and flowing Black Money. Are these contributions attained by cheques and not even its receipts are issued for proper transactions? Are these recorded in the organization official accounts? The responses to all these queries are in negative. This is not accomplished due to several private Educational Institutions are operated by officials, politicians or factories that either collude with law compelling authorization or bribe them with the Black Money they generate. Black Money transactions took place in the surroundings and disclosing of question papers and assists in examination locations to get particular students exceed via deceitful manner or to attain few of them the highest ranks in exams. This not merely entails Black Money transactions but in addition producing scorns of our Educational system & exams.
In earlier times, no long time before, the Education was a dignified profession. At that time, the creation of any Educational Institution (college or school) was a virtuous act. There was neither contribution fee nor even donations or other high amount fees. An individual joining any private coaching was thought to be a failure. But nowadays Education has turn out to be a big business providing field. We are providing the standard ways of outspoken payment referred to as capitation fee or donation, at distinct stages of Education:
- PlayGroup or Pre-KG requires 36000 to 60,000 rupees per year
- Junior Kinder Garden requires capitation fee of 30,000 to 5,00,000 with the fee excluded per month ranging from two to ten thousands.
- 11th or 12th requires capitation fee ranging from Rs 2,00,000 to 5,00,000 excluding the fee
- Acquiring under graduate admission excluding fee requires
- MBBS (Medical Field) 30,00,000 to 60,00,000 RS. capitation fee
- BAMS & other course (Medical Field) 3,00,000 to 8,00,000 Rs. Capitation or Donation fee
- Engineering Field needs 2,00,000 to 10,00,000 as donation fee
- Post Graduation admission, excluding fee, requires :
- Medical field requires one to four crores as capitation or donation fee
- Management field requires ten to twenty lakhs Capitation or donation amount
Now, where does this so-called donation goes in actuality? The answer to this question is not yet known officially. Indeed, this money not even exists officially. This money is what we refer it to as Black Money..
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