Term 'black money' is racist, should be changed: Members in Rajya Sabha

NEW DELHI: It may have something to do with the taint it carries, but bitter rivals Trinamool Congress and CPI(M) want the term 'black money' changed because of the hint of 'racism' in the expression.

The issue figured during a discussion on the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Bill, 2015, in the Rajya Sabha today.

Derek O'Brien (TMC) stressed that the term black money should be changed as "dirty money".

Tracing the history of the term 'black money' to Europe several centuries ago, he said, money then appeared in black as it was mixed with copper while minting was called as black money.

CPI(M) leader Sitaram Yechury concurred with the view of his political rival. He said the term black money was "racist" and should be replaced with some other expression.