10 Countries With Highest Black Money Outflows

So the list goes on. Now moving on to understand who owns this black money. The answer would pretty much include everyone who is a part of the economy. It includes a middle class man who conceals the amount of his actual income to the political hotshot who illegitimately spends the funds he receives.

India is now anticipating that the new government’s Special Investigative Teamcan bring back the black money that has been stacked up in foreign banks and tax haven countries. However, experts say that most of the black money was spent on the recent elections and was invested in Indian and foreign industries. So do you think all that money would still sit idle in those banks? Certainly not. What good can come of this SIT set up by the Government? The good part is that citizens will now be exposed to the amount of black money owned by India alone. Other positive outcome is that the government can take effective measures to check this kind of parallel economy to certain extent. All the ‘Hawaldaars’ and ‘Black Marketers’ will be exposed to the government, constraining them from running the black market. It is a long process, yet a right initiative.

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