..and they thought India was a poor country
By Good old joe •
Black money: Indians have stashed over $500bn in banks abroad
NEW DELHI: Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars of illegal money stashed by them in tax havens, the CBI director said.
India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc.
It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad. Largest depositors in Swiss Banks are also reported to be Indians
http://timesofindia.indiatimes.com/india/Black-money-Indians-have-stashe...
With the economy in the doldrums, a few gifts will always be appreciated :0)
Ladies Tailor
You are really inviting the Brits again
:D
with the ref to above,why are these so called clean countries encouraging people to deposit black money into their banks.
It is a Guesstimate.. Nothing concrete yet so don't believe the figures..
Bankers has no role ?? !!
last year i read one custom commissioner estimated it to be more than 1.5 trillion!!!!!
ha ha ha..!!! Now that makes me wonder how much our philiphino represantatives of the people have stashed and hidden away in swiss banks.
With all this money India could certainly get Greece and the other troubled European ecconomies back in good ecconomic health again
It does make sense doesn't it? If all that money was back there in India it would have been put to a better use. Anyways you have quoted it from one of the most rubbish-publishing online news paper, don't believe their figures, ever.