How the black money problem will be influenced to our PM Modi to took a historical step to eradicate the black money and illegal currency from the Indian market to build a single face economy in the nation....

1. By
Manjunath Palled
Black Money
To
White Money

4. What is 'Black Money'
Black money is money which is earned through any illegal activity controlled by
country regulations. Black money proceeds are usually received in cash from
underground economic activity and, as such, is not taxed. Recipients of black money
must hide it, spend it only in the underground economy, or attempt to give it the
appearance of legitimacy through money laundering.

5. Between 2002-2011, corrupt Indians siphoned off a total of Rs 21,00,000
cr ($343 billion) worth of black money into offshore bank accounts. Rank wise,
we are world’s 5th most corrupt country in terms of black money outflow.
These stunning revelations were included in a report titled “Illicit Financial
Flows from Developing Countries: 2002-2011” which was released by Global
Financial Integrity, Washington-based research and advocacy organization
which is supported by Ford Foundation.
$462 billion (about Rs28.6 lakh crore): According to Global Financial Integrity
(GFI) between 1948 to 2016
$500 billion ( Rs 31.4 lakh crore) and $1.4 trillion ( Rs 86.8 lakh crore): Parked in
undisclosed overseas accounts, according to a BJP task force report of 2011

6. Top 20 Countries’ Cumulative Illicit Flows; 2000-2008
(billion U.S. dollars)

7. Illicit Financial Flows from the Top Ten Developing Economies, 2002-2011
As the world economy sputters along in the wake of the global financial crisis, the illicit
underworld is thriving—siphoning more and more money from developing countries each
year,”
Overall, the developing countries of the world during this period of 2002-2011 lost around
$1.9 trillion worth of money into the unknown abyss filled with corruption, black money,
crime and greed.

8. How is common man affected by this Black money?
Taxes
Inflation
Black market economy
Social and economical life

9. The real black money is circulated inside the country
how else do you think the intra and inter day changes in the Sensex be so
fluctuating and the only reason for it being the money pumped in case of a jump
or money pulled out in case of a fall. Where is the money pumped in from? Who
pulls it out? Why are there so many NGOs, charity trusts and other such
organizations out there? If you carefully see the other markets you will see a
gradual increase or decrease, any fluctuation is caused only by some very
shocking news like announcement of recession leads to a steep fall. Even if you
are in recession unless announced you haven’t seen the actual plunge appear in
the form of statistics, till then it is all calm or gradual and minimal decrease. The
organizations like NGOs and which support charity help converting white money –
black money – white money.

11. How many of you Agree ?

13. Manjunath Palled
MBA
8792765799
mrpalled@gmail.com
Bangalore
India