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Black money refers to the income and wealth that is earned through illegal means, and is not disclosed for tax purposes or to the government. This type of money is commonly associated with transactions that are done under-the-table or without official documentation. Black money is often used for illegal activities such as bribery, money laundering, and funding terrorist organizations. It can also be used to avoid paying taxes, leading to a loss of revenue for the government. The existence of black money undermines the fairness and integrity of financial systems, and makes it difficult to achieve economic and social development.
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