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GFI Identifies $770 Billion of Black Money Inflow Between 2005-2014
May 08, 2017
According to a recent report released by Global Financial Integrity, which is a US-based think tank, about US$770 billion in the form of black money entered in Indian economy between the years 2005 and 2014. In 2014 itself the total inflow of black money was circa USD 101 billion, and the outflow USD 23 billion.
The report titled “Illicit Financial Flows to and from Developing Countries: 2005-2014” is the first global study on illegal inflows and outflows of black money. Apart from providing the details for illicit inflows and outflows, the report also said that black money needs to be checked and policymakers should get the businesses to disclose their financial details such as profits and losses publicly.
