The Swiss Banking Association said that India, which took fourth place for outflow, holds more black money
than the rest of the world combined.
INDIA ranked fourth in the world in generating black money
with a staggering $ 51 billion flowing out of the country every year between 2004- 2013, according to the annual report released by Global Financial Integrity ( GFI) on Wednesday.
Mohan Ramaswamy, Managing Director, LexisNexis India said, “Publishing this book on Black Money
- a topic of national significance is a part of our continuous endeavor to improve transparency and advance the rule of law through our works and solutions that make professionals become more efficient, drive debates and discussions and fuel intelligent thoughts and action.
With a view to curb the generation of black money
in real estate, the Budget proposes to amend the provisions of Section 269SS and 269T of the Income-tax Act so as to prohibit acceptance or re-payment of advance in cash of Rs 20,000 or more for any transaction in immovable property.
28, the Modi government got a severe tongue lashing from the Supreme Court, which reprimanded it for seeking modification of its order on black money
on disclosing names of alleged account holders in foreign banks.
Modi must respond to Sonia since BJP had made a big issue out of the black money
issue in the last general elections and had promised to get it back.
The Special Investigation Team on black money
, constituted by the Narendra Modi government on May 27 in compliance with a Supreme Court directive, is studying the report.
Anjan told ANI, "Baba Ramdev and Prime Minister Narendra Modi promised during the election campaign that as soon as the party wins the election black money
will be brought back.
Pakistan can pay off all its debts in no time if succeeds to recover all this black money
The sting operation by Cobrapost found out that many private sector banks floated the rule and turned black money
to white, accepting cash amounting to lakhs.
Is it not one more act of mega-corruption that this most corrupt political government of our history is trying to inflict upon the country a scheme that can only give black money
accumulated during this period to get into the system as white?
Summary: The indian government's white paper on black money
is a huge disappointment.