PTE Write Essay Task Sample 175

You will have 20 minutes to plan, write and revise an essay about the topic below. Your response will be judged on how well you develop a position, organize your ideas, present supporting details, and control the elements of standard written English. You should write 200-300 words. 

Black money

Black money, often used to describe income that is illegally earned, undisclosed, or not subject to taxation, poses a significant challenge to the economic well-being and integrity of a nation. In many countries, including India, the issue of black money has been a persistent concern.

The generation of black money often involves activities such as tax evasion, corruption, money laundering, and other illicit transactions. This unaccounted wealth has detrimental effects on the economy, as it deprives the government of much-needed tax revenue and hampers efforts to promote economic development and social welfare.

Governments worldwide implement various measures to combat the menace of black money. These include introducing stringent tax laws, enhancing financial transparency, and implementing anti-money laundering initiatives. Additionally, encouraging the use of digital transactions and promoting a culture of financial accountability can help in curbing the generation of black money.

Efforts to tackle black money require a multi-faceted approach, involving collaboration between government agencies, financial institutions, and the public. Stricter enforcement of laws, international cooperation to trace illicit financial flows, and public awareness campaigns are essential components of any strategy to address the challenge of black money.

In conclusion, addressing the issue of black money is crucial for fostering a transparent and robust economic system that benefits society as a whole. It necessitates a collective commitment to combating illicit financial activities and promoting a culture of financial integrity.