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  9. Q1

TNPSC Group-I 2021 · Question 1 of 148

Choose the correct statements related to "Black money": (a) These are assets not reported to the Government at the time of their generation. (b) Estimate of black money in India for the year 1983-84 is 95% of GDP. (c) "Tax havens" are typically big countries that impose a high tax on foreigners who decide to settle down.

Economy - Black Money

  1. A(a) onlyCorrect
  2. B(b) only
  3. C(a) and (b) only
  4. D(b) and (c) only

Answer: A. (a) only

Explanation

Black money comprises assets not reported to the government at generation. The 95%-of-GDP figure for 1983-84 and the 'big country high tax' description of tax havens are both false.

Source: TNPSC Group-I Prelims (held 3 Jan 2021) - official paper via examrace.com

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