What is gora?

What is gora?

I found definition of GORA in http://www.urbandictionary.com/. Written by 3 different people

1. Term used by Indians to refer to white people. Literally means "white". "Gori" is used to refer to a white woman. Not derogatory.

Bill Clinton is a gora.

Jennifer Aniston is a hot-ass gori.

2. Gora -a white man or a man with pale skin. Gori is a white girl or a girl with pale skin.

oh kidaa goreyo teek taak hor sna pher gora koi nami taaji?/good day white man are you well have u any new news to tell me?

3. Gora- word used by Indians to describe the white people in US and UK.
He is a white English/ American (Gora)

Do you have your own explanation? Do you feel it's not polite word or is it ok? What's your view?