Definition 1 of 1
Many large financial transactions in India have two components - the official amount *white" and unofficial amount "black".
Black money is technically illegal but very much part of the corruption culture prevalent across India, South Asia. For example a land sale will have Rs. 10 Lakhs (Rs 1 million) paid in white and Rs. 40 lakhs (Rs. 4 million) paid in black. The black component is off the books and no tax is paid. The parallel "black economy" of India runs into hundreds of billions of rupees. It is also a key part of election financing.
"Total price 3 Crore (300 Lakhs/30 million). Pay 50 lakhs in white. Balance settle separately"