India Black Money Statistics: $123 Billion Lost In This DecadeDecember 18, 2012 3:07 pm
Black Money Statistics globally can be very surprising as well – we had spotted a stat some time back, that with just the taxes from funds parked offshore for tax evasion reasons, world poverty can be ended three times over.
Illicit capital flight has been a huge issue with the Indian economy. We spotted this today:
“Indian economy suffered $1.6 billion in illicit financial outflows in 2010, capping-off a decade in which it experienced black money losses of $123 billion, according to a new report. India is ranked as the decade’s 8th largest victim of illicit capital flight behind China, Mexico, Malaysia, Saudi Arabia, Russia, the Philippines, and Nigeria, respectively in the report by Global Financial Integrity, a Washington-based research and advocacy organization.”
Huge numbers, these.