Tuesday, September 14, 2010

How much Money is Siphoned out of India DAILY???

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Here is little unnatural question, How much Money is Siphoned out of India DAILY??? Wanna know the answer to it? Just read below lines from an article.

More than $125 billion worth of funds meant for the uplift of Indians were illegally siphoned out of the country by corrupt politicians and corporates between 2000 and 2008, hindering inclusive growth, says to a leading think tank here.

“Much of the funds flowing out are generated at home within India and then sent illegally abroad,” said an upcoming report from Global Financial Integrity (GFI).

“So the growth of corruption and India’s underground economy contributes significantly to illicit financial flows from the country,” said the research arm of the Centre for International Policy (CIP).

S
o if you calculate in Rupee terms, it comes out that approx. Rs. 587500 Crores Indian Rupees were siphoned out of the country between 2000 and 2008 & these funds were meant for the uplift of Poor Indians. So if you consider 8 Years time span in which these funds were siphoned out and then sent illegally abroad, it comes out to be approx. Rs. 200 Crores daily. Can you imagine that approx. Rs. 200 Crores of money meant for upliftment of poor were siphoned out of the country daily.....It's just unimaginable but TRUE. Read full report here....India’s corrupt siphoned out $125 bn in eight years: Report

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