India's Black Money Estimated at 10 Percent of GDP
The white paper also said, “The illicit money transferred outside India may come back to India through various methods such as hawala, mispricing, foreign direct investment (FDI) through beneficial tax jurisdictions, raising of capital by Indian companies through global depository receipts (GDRs) and investment in Indian stock markets through participatory notes.”
As formulated in May 2012, the white paper expressed that it is quite possible for a large amount of money which was transferred outside India could have returned by same means into the country.
In the last three reports in the past the black money estimated by NIPFP are 1975 to 1976 
9,958 to 11,870 or 15 percent to 18 percent of GDP; in 1980 to 1981 9,958 to 11,870 or 18 percent to 21 percent and from 1983 to 1984 31,584 to 36,784 or 19 percent to 21 percent. Each time the generated black money has gone up than the previous estimates, indicating scams and corruption spreading at an exponential pace in the country.
