Ganapat is salaried person. When his salary was just Rs. 20,000/- per month in an honorable job sought to get for his growing family a house, a flat in an upcoming housing scheme in a good locality of the city. But at that time the cost of the flat was Rs. 20 Lakhs, which he felt was way out of his capacity to pay. So he dropped the idea of buying a house of his own for the family.
Image Credit: www.patrika.com
After few years, Ganpat's salary had became Rs. 50,000/- per month. At that time the family decided to get own house of its own since the rental they were paying for the house was too much. But the house was priced now Rs. 50 Lakhs, again the way of beyond Ganpat's capacity to pay.
Yet, the family decided to go for it. They borrowed from parents, friends and relatives to muster up few lakhs. Everybody chipped in, giving Ganpat and his family whatever was possible, much of only the white money since everybody was a job-doer and did not have any source of black money.
Ganpat chose a house. The builder's condition was terrible. The was to cost Rs. 50 lakh unofficially whereas it's official price was only Rs. 27 lakhs. The rest Rs. 23 lakh had to be paid unofficially. That was final or otherwise, the transaction could not take place.
So, Ganpat and his family mustered upto Rs. 15 lakhs - all white money from friends and relatives and added Rs. 8 lakhs from their savings which they had put in the bank that made up for the black maoney. A grand story of how white money was pushed into the black segment!
But what about official component of Rs. 27 lakh? So, Ganpat approached the bank, which promptly give the loan. For the past few years, Ganapat is paying nearly Rs. 30,000/- as monthly repayment of loan, and managing his family in a paltry sum which is so inadequate to support the growing children's education plus elderly person's medicines ...!
This real-life story gives the most correct picture: White money converted into black and loan taken for the white money component of the flat's price. And Ganapat claims that he is happy having bought the house. Yes, he is, for he really needed the house. The builder, too, is happy having pocketed Rs. 23 lakhs in black.
The loot of Rs. 23 lakhs on name of unofficial price, is for the sake of distributing the amount among many officials - forms a component of black money all over from white money. And the reason is simple: there are many partners in this revenue sharing model of black economy.
This is how people like Ganapat - common people contribute unknowingly and thus this black component of economy grows causing our economy to be weak. So before investing in any thing make sure about that you are not contributing unknowingly your hard earned white money in black component of the price of that investment. Be aware!
Image Credit: www.patrika.com
After few years, Ganpat's salary had became Rs. 50,000/- per month. At that time the family decided to get own house of its own since the rental they were paying for the house was too much. But the house was priced now Rs. 50 Lakhs, again the way of beyond Ganpat's capacity to pay.
Yet, the family decided to go for it. They borrowed from parents, friends and relatives to muster up few lakhs. Everybody chipped in, giving Ganpat and his family whatever was possible, much of only the white money since everybody was a job-doer and did not have any source of black money.
Ganpat chose a house. The builder's condition was terrible. The was to cost Rs. 50 lakh unofficially whereas it's official price was only Rs. 27 lakhs. The rest Rs. 23 lakh had to be paid unofficially. That was final or otherwise, the transaction could not take place.
So, Ganpat and his family mustered upto Rs. 15 lakhs - all white money from friends and relatives and added Rs. 8 lakhs from their savings which they had put in the bank that made up for the black maoney. A grand story of how white money was pushed into the black segment!
But what about official component of Rs. 27 lakh? So, Ganpat approached the bank, which promptly give the loan. For the past few years, Ganapat is paying nearly Rs. 30,000/- as monthly repayment of loan, and managing his family in a paltry sum which is so inadequate to support the growing children's education plus elderly person's medicines ...!
This real-life story gives the most correct picture: White money converted into black and loan taken for the white money component of the flat's price. And Ganapat claims that he is happy having bought the house. Yes, he is, for he really needed the house. The builder, too, is happy having pocketed Rs. 23 lakhs in black.
The loot of Rs. 23 lakhs on name of unofficial price, is for the sake of distributing the amount among many officials - forms a component of black money all over from white money. And the reason is simple: there are many partners in this revenue sharing model of black economy.
This is how people like Ganapat - common people contribute unknowingly and thus this black component of economy grows causing our economy to be weak. So before investing in any thing make sure about that you are not contributing unknowingly your hard earned white money in black component of the price of that investment. Be aware!
No comments:
Post a Comment