Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

Any country in the world where black money generation is of the magnitude like that it is in India? Your views on this please?

Tags: india, money, black money
Asked by Good Citizen, 20 Jan '11 12:01 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (4)

 
1.

It is ironical that ,We the Indians are the number one depositor in Swiss Banks ..The first study on unaccounted money was conducted way back in 1985. In it, the NIPFP had put the estimate of black money amount between Rs 31,584 crore and Rs 36,786 crore, in 1983-84, which was 16.53 per cent of the Indian economy then.As such, the actual amount of black money, after liberalisation, may well be captured by the proposed study.The new study will also assume importance, since Indias economy has grown about 31 times to Rs 6,231,171 crore during 2009-10, against Rs 222,485 crore during 1983-84, for which the first study was conducted.According to the data provided by the Swiss bank, India has more black money than rest of the world combined. India topping the list with almost $1500 Billion black money in swiss banks, followed by Russia $470 Billion, UK $390 Billion, Ukraine $100 Billion and China with $96 Billion.
Answered by venkatesaldevarajan, 20 Jan '11 12:14 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
2.

No . One estimate of swiss banks association suggested in 2006 that 1.45 trillion dollars of Indian black money is stashed there . This amount is about 13 times larger than the countrys foreign debt. The next comes Russia with 0.47 trillion dollars .Here in India over the years big industrialists , politicians and big bureaucrates have mostly been looters of public money and their money has gone overseas . If all those money gets transferred here we can pay all our foreign loans and from its balance remaining money (if put in banks )with its interest entire central govt budget could easily be manged without any tax on public !!
Answered by sk singh, 20 Jan '11 01:11 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
3.

I think India stands number 1...It is due to huge population.
Answered by anantharaman, 20 Jan '11 01:10 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
4.

All countries where bribes r high
Answered by dhanendra kumar jain, 20 Jan '11 12:17 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining

Related Answer

Q.
A

I think all the problems are related to water. here are a few problems that i have found for you. however there are environmental problems as well as ..more

Answered by ChaluTakla