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My Blog is an sincere effort to share my thoughts with readers on the current social issues especially, topics related to the present Indian Political System and the government.
Friday, November 9, 2012
Black money flowing out of India is more than fiscal deficit
In the period 2000-2009 the illicit capital flows from India stood at a whopping $104 billion. Currently one dollar is worth around Rs 55. Hence in rupee terms this amounts to a huge Rs 5,70,00 crore. To give the reader a sense of comparison, the fiscal deficit of the government of India for the financial year 2012-2013 ( i.e. the period between April 1, 2012 and March 31, 2013) was initially estimated to be at Rs 5,13,590 crore.
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