Which one of the following effects of the creation of black money in India has been the main cause of worry to the Government of India

(a)

Diversion of resources to the purchase of real estate and investment in luxury housing

(b)

Investment in unproductive activities and purchase of precious stones, jewelry, gold, etc.

(c)

Large donations to political parties and the growth of regionalism

(d)

Loss of revenue to the State Exchequer due to tax evasion