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$770-bn black money entered India in 10 yrs, $101 bn of that in 2014 alone

The period also coincides with a sharp rise in consumer inflation

Sai Manish  |  New Delhi 

A report by Global Financial Integrity (GFI) documenting illicit financial flows across the world has pegged the total illicit inflows in India between 2005 to 2014 at $770 billion. The yearly report titled ‘Illicit Financial Flows from Developing Countries’ also pegs the illicit money inflows in 2014 at $101 billion in the report.  On the other hand, illicit outflows from India was pegged at $165 billion between 2005 and 2014. In 2014, the illicit money flowing outside India stood at $21 billion – a fifth of the outflows during the year. The report notes ...

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First Published: Wed, May 03 2017. 13:45 IST
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