India lost $462 billion in illicit financial flows: Report
Post independence, India lost a staggering $462 billion in illicit financial flows due to tax evasion, crime and corruption, a research and advocacy group said in a report today.
The report, The Drivers and Dynamics of Illicit Financial Flows from India: 1948-2008', released by Washington-based Global Financial Integrity (GFI) found that the faster rates of economic growth since economic reform started in 1991 led to a deterioration of income distribution which led to more illicit flows from the country. Read more..........India lost $462 billion in illicit financial flows
The report, The Drivers and Dynamics of Illicit Financial Flows from India: 1948-2008', released by Washington-based Global Financial Integrity (GFI) found that the faster rates of economic growth since economic reform started in 1991 led to a deterioration of income distribution which led to more illicit flows from the country. Read more..........India lost $462 billion in illicit financial flows
Labels: corruption, India
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posted by Sancho at 9:21 PM
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