Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2011-05-30

Quantifying Black Money

There have been wide-ranging estimates of the amount of Indian black money stashed abroad -- from $500 billion to $1,400 billion.

The Indian government said Sunday it had commissioned a study to examine how black money is generated and recommend ways to bring it back into the mainstream economy.

The study is being conducted by three autonomous institutions under the finance ministry -- National Institute of Public Finance and Policy, the National Institute of Financial Management, and the National Council of Applied Economic Research.

There have been wide-ranging estimates of the amount of Indian black money stashed abroad -- from $500 billion to $1,400 billion.

A recent study by Global Financial Integrity has estimated the outflow of illicit money at $462 billion.

It will be also profile activities, identify sectors and examine methods which encourage generation of unaccounted and black money, and ways by which they are converted into 'white' money.

The study will recommend methods on how to bring back black money stashed in banks outside India as well as to estimate the quantum of tax evasion by companies.

The clamour for taking action against the corrupt and recover funds hidden in tax havens abroad has been getting stronger. Social activist Anna Hazare's 97-hour fast forced the agreement to enact a stringent anti-graft law.

The Supreme Court too has been increasingly critical of the way the Congress-led United Progressive Alliance (UPA) government has been dealing with the issue of investigating illegally acquired wealth and convicting people found responsible for money laundering.

Related opportunities
  • Lingerie & Innerwear
    About Us: Trylo Inner Luxury - the name says it all...
    Locations looking for expansion Gujarat
    Establishment year 1992
    Franchising Launch Date 2014
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Surendranagar Gujarat
  • Others Food Service
    About Us: Wicked China is a place that serves up Chinese..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Quick Service Restaurants
    About Us: • Chawlas2 is one of the biggest North Indian..
    Locations looking for expansion Punjab
    Establishment year 1960
    Franchising Launch Date 1991
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ludhiana Punjab
  • Other Vocational Training
    Established in 2007, Patsav is India's Award Winning Top Pro..
    Locations looking for expansion Telangana
    Establishment year 2007
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Hyderabad Telangana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts