India ranks 4th in black money outflows per annum

money1India ranks fourth in black money outflows with a whopping USD 51 billion siphoned out of the country per annum between 2004-2013, a US-based think-tank’s report said today.

Notably India’s defence budget is less than USD 50 billion. China tops the list with USD 139 billion average outflow of illicit finances per annum, followed by Russia (USD 104 billion per annum) and Mexico (USD 52.8 billion per annum), according to the annual report released by Global Financial Integrity (GFI), a Washington-based research and advisory organisation.  Read More

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