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black money in India
by truthbetold Wed Nov 11, 2015 7:00 pm
recently i finished watching a netflix network's own series on Pablo escobar: Narco wars.
According to US DEA, in 1980s, Pablo Escobar was trasacting around 60 million dollars a day on drug trade. At one point, it was estimated, he was worth above 5 billion dollars (again 1980 dollars).
The difficulty in money laundering forced Escobar to dig holes in fields and hide money in the ground.
It is widely believed that India has anywhere 10 to 50% underground economy. These people do not pay taxes, and cannot put money in banks.
So where do Indian rich hide their money?
Some common methods read in newspapers are undeclared money hidden inside their own house, gold hidden in bank vaults, and in the past few decades wide spread hiding in land deals.
Another reported method is under/over invoicing goods in foreign trade (satyam case).
Several of us talk about black money. Do you know how Indian rich hide their money? How do they move it with in India? How do they take it out of India or bring it back to india? where do politicians find money during the elections?
According to US DEA, in 1980s, Pablo Escobar was trasacting around 60 million dollars a day on drug trade. At one point, it was estimated, he was worth above 5 billion dollars (again 1980 dollars).
The difficulty in money laundering forced Escobar to dig holes in fields and hide money in the ground.
It is widely believed that India has anywhere 10 to 50% underground economy. These people do not pay taxes, and cannot put money in banks.
So where do Indian rich hide their money?
Some common methods read in newspapers are undeclared money hidden inside their own house, gold hidden in bank vaults, and in the past few decades wide spread hiding in land deals.
Another reported method is under/over invoicing goods in foreign trade (satyam case).
Several of us talk about black money. Do you know how Indian rich hide their money? How do they move it with in India? How do they take it out of India or bring it back to india? where do politicians find money during the elections?
truthbetold- Posts : 6799
Join date : 2011-06-07
Re: black money in India
by confuzzled dude Thu Nov 12, 2015 12:03 am
Your favorite leader is an expert in these matters, isn't it? Why don't you ask him? See how those investors from Singapore have agreed to build a world class capital in andhra for free land.
confuzzled dude- Posts : 10205
Join date : 2011-05-08
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