Black money refers to funds earned on the black market, on which income and other taxes has not been paid. The total amount of black money deposited in foreign banks by Indians is unknown, but many estimates that a total of US$1.5 trillion are stashed abroad. According to Central Bureau of Investigation (CBI) Indians are the largest depositors in banks abroad with an estimated $500 billion of illegal money stashed by them in tax havens.

While official numbers are not available, Swiss banking officials have said that the largest depositors of illegal foreign money in Switzerland are Indian.

In August 2010, the government revised the Double Taxation Avoidance Agreement to provide means for investigations of black money in Swiss banks. This revision, expected to become active by January 2012, will allow the government to make inquiries of Swiss banks in cases where they have specific information about possible black money being stored in Switzerland.

In 2011, the Indian government received the names of 782 Indians who had black money saved in HSBC. As of December, 2011, the Finance Ministry has refused to reveal the names, though they did confirm that no current MPs are on the list. In response to demands from the Bharatiya Janata Party (BJP) opposition party for the release of the information, the government announced on 15 December that, while it would not publish the names, it would publish a white paper about the HSBC information.

A black market or underground economy is a market in goods or services which operates outside the formal one(s) supported by established state power. Typically the totality of such activity is referred to with the definite article as a complement to the official economies, by market for such goods and services, e.g. "the black market in bush meat" or the state jurisdiction "the black market in China".

It is distinct from the grey market, in which commodities are distributed through channels which, while legal, are unofficial, unauthorized, or unintended by the original manufacturer, and the white market, the legal market for goods and services.

Worldwide, the underground economy is estimated to have provided 1.8 billion jobs.

The literature on the black market has avoided a common usage and has instead offered a plethora of appellations including: subterranean; hidden; grey; shadow; informal; clandestine; illegal; unobserved; unreported; unrecorded; second; parallel and black. This profusion of vague labels attests to the confusion of a literature attempting to explore a largely uncharted area of economic activity.

Subramanian Swamy (born 15 September 1939 in Chennai, India sometimes spelt Subramaniam Swamy) is an Indian politician, academician and an economist. He is the President of the Janata Party of India. He also presently serves as chairman of the SCMS Board of Governors of the SCMS Group of Educational Institutions in Kerala.

Swamy has previously served as member of the Planning Commission of India and Cabinet Minister of India. He has written extensively on foreign affairs dealing largely with India-China, India-Pakistan and Indo-Israel relation and is also a published author.

In November 1978, Swamy was member of the Group of Eminent persons called to Geneva to prepare a report of the United Nations (UNCTAD) on Economic Co-operation between Developing countries (ECDC).Swamy simplified trade procedures and formulated a new export strategy which became the forerunner of trade reform adopted subsequently. In 1994, Swamy was appointed as Chairman of the Commission on Labour Standards and International Trade by then Prime Minister P. V. Narasimha Rao. This was perhaps for the first time that an Opposition Party member was given a Cabinet rank post by the ruling party.

Lal Krishna Advani (Sindhi: लाल किशनचंद आडवाणी (Devanagari) [laˑl kiɕəntɕən̪d̪ aˑᶑʋaˑɳiˑ]; born on 8 November 1927, at Karachi) known as L.K Advani is a Veteran Indian politician. A former president of the Bharatiya Janata Party (BJP), which is currently the major opposition party in the Indian Parliament. He also served as a Deputy Prime Minister of India from 2002 to 2004. He was the Leader of the Opposition in the 10th Lok Sabha and 14th Lok Sabha (Lower House of the Indian Parliament). Advani began his political career as a volunteer of Rashtriya Swayamsevak Sangh.

L.K Advani was born at Karachi, in Sindh of British India to Kishanchand D Advani and Gyani Devi. He completed his early schooling from Saint Patrick's High School, Karachi, then he joined the D G National College in Hyderabad, Sindh for his college education. He then graduated in Law from Government Law College, Bombay University.

L.K Advani's life as a politician started in 1947 when he was elected as the Secretary, Rashtriya Swayamsevak Sangh, Karachi. In 1947, Advani was sent to Mewar in Rajasthan, which had witnessed communal violence following partition, to oversee the affairs of the RSS there.