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4800000000000 [4.8 lakh crore] Rupees Black Money Goes Out of India to Foreign Shores!

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[Post Updated: Oct 2014]

Finally, it seems that the new Modi Government will bring atleast some of the Black money back in India. On all accounts, the names of all the Black Money hoarders in Foreign Banks will make their way back into India. Do you know the kind of money we are talking about here…Read the below post that we wrote back in 2011.

Earlier…

I am sure you are counting the number of zero’s on the figure – Thats the amount of black money which got transferred to foreign shores from India. A new report released by Global Financial Integrity (GFI), states that illicit financial flows from India between 2000-2008 were approximately $104 billion (R4.8 lakh crore).

illicit financial Flow

This report has coincidentally come at a time when Supreme Court has clearly given instructions to authorities to disclose the names of Indians with money deposited in foreign banks, renewing the interest in bringing back Indian money stashed in foreign accounts. [Full report]

To be honest, the figure might be much higher that what the report reveals, but just to give you a perspective of reported figure, it is more than 10 times the total allocation to education in 2010-11.

One of the interesting aspects of the report is that India is 15th in the overall list which is headed by China which has cumulative illicit outflows in region of 2.18 trillion. If you see most of the top countries are oil producing nations !

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

Black Money Outflow

Regional Share of illicit Black Money outflow

Regional Share

There is no doubt that Government needs to take strict action against these black money hoarders, unfortunately the problem is – Government itself comprises of people who run this black economy and benefit from it !

On a lighter note, with the kind of numbers we are talking it has become imperative for us to adopt new accounting terminology for Black Money. This has been making rounds on Social Media sites

New Accounting Terminology

  • 1 Cr = 1 Khoka
  • 500 Cr = 1 Koda
  • 1,000 Cr = 1 Radia
  • 10,000 Cr = 1 Kalmadi
  • 1,00,000 Cr = 1 Raja
  • 10 Kalmadi + 1 Raja = 1 Pawar

[source]

"4800000000000 [4.8 lakh crore] Rupees Black Money Goes Out of India to Foreign Shores!", 5 out of 5 based on 1 ratings.
  1. justice no where says

    Sri Gali Janardhan Reddy exported one crore and thirty lakh tonnes of iron ore to CHINA from Andhra&Karnataka Border as he got the contract with throw away price. He got all clearances from every department on the way. Revenue, Mining & Shipping, Transport…name any..all were part of the scam. Every Official extended their hand either due to willingness or compulsion. Some even praised him of creating employment to unemployed youth in that region. “Brahmini” Steel Factory was a ‘MOHRA” face of it. When he was arrested, his house was almost burgled. Indian People were told that all the illegal money will be recovered. That money will added to Govt Fund. Did any lawyer or Judge allowed such holy practice in India? All were in queue to get their share from his left out money with him. Nothing is given back to nation/Govt. The case was dragged for years. He was given bail. The case is almost over.
    No recoveries are made in any of the scams that took place in India. All drama. EVery character has his piece of share. All preach the judicial system has done a lot, but could recover nothing. The money has flown into the pockets of lawyers of both sides and to the Judges. The message is very clear that lawyers&Judges want their share. They are hungry to have their share on the name of justice of every case. Common people are afraid to complain against corruption because of the lawyers&Judges, who fix that individual at the end. In every Govt offices like revenue, RTA, Irrigation…, Not paying the bribe is considered as crime. In mufti , anyone can go and witness it any where in India. Swacch Bharath campaign is a ideal ones, which can never be achievable as 80% of Govt employees are corrupt in those departments.

  2. muthukumar says

    how many of you ready to clear this shit .
    lets form a team and do this mission

  3. Muhammed says

    good dialogues but no one comes front for this corruption, who will join and help me for this corruption pls cal me at +919947828921

    1. muthukumar says

      give your mail.id………………
      lets start this mission

    2. joshua says

      We cant do this work alone.I think we are from different countries.We have clear the Indian black money list.To do that we should get more information about the people have black money.I am a Tamil man and I always think how to clear the Indian black money.If you have any plans or information please send it to my mail.Waiting for your mail.

  4. Vishnuvardhan says

    Peoples of india , this is time to getup .lets fight with the government to bring back our money to our country.lets put pressure on swiss government by seeking help from other countries of the world .each person of india can got rupees 4500 per month for a day & we can repay our nations debt & also we can give debt for america & also we can made india number one nation in the world & then we can maintain a treasury of 3000 crores per state.so cheer up , & hang or shoot & kill the corruptionists publicly & make our india from these type of people.this is my humble request for all the indians who are in the country & abroad.join hands to this great work & make INDIA ,a self reliant nation.if you still maintain silence they will destroy our nation,become a warrior & fight for the country & its reputation.lets sacrifice your lives for the country& be make the whole world to feel proud about our nation

  5. sumit sudy says

    10 SHARAD PAWAR +1 Raja = 1 Rahul
    10 Rahul +10 SHARAD PAWAR +1 Raja = 1 Madam

  6. Tngradsformlc Tamilnadu says

    l"BLACK MONEY
    Can we as a nation tackle it? Yes. Here comes the Gold-en Recovery PLAN.

    Rather than complaining about darkness, here is one candle. The simplest way to bring in accountability and avoid money laundering in Gold Transactions in India is a simple.
    THREE letter answer -“PAN”… the Gold-en Recovery PLAN……. The only solution for bringing the black money from the gold /(bullion/precious stones) market to the country’s coffers is insisting that the gold buyer and sellers to produce his / her PAN card and making it mandatory for transactions above Rs.50,000/-. All the Gold dealers in whole sale/retail should provide the source and use of gold account.

    Help Fight Terrorism:

    The Black money which has been evading tax has come recently more into the radar of the leading powers of the world. As the USA and other countries look into funding terrorism, the terrorist are switching from currencies to gold. May be India will set the trend to the world in accounting for gold. This will not only help control black money but also terrorism.

    Hopefully, The high-level Finance Ministry committee on tackling the menace of black money is likely to submit its report in the first week of January, CBDT Chairman M C Joshi will include their much expected January, 2012 report the solution provided here, which to the best my knowledge has not been discussed in public domain.

    (About the author: Americai V. Narayanan is a Certified Public Accountant and served as Treasurer and Vice President of a billion dollar corporation In USA before coming back to India in 1989. He is a member of Congress Party from Tamil Nadu".

  7. rohit kumar says

    i want money i can do everyting for this . i want to become rich. call me 09857640014

  8. Singham Bhaiya says

    gali gali chor he gali gali chor he.
    correption corrreption ka jor hr.

  9. Santosh Kumar Mohapatra says

    lage raho brother….

  10. Santosh Kumar Mohapatra says

    lage raho bro.

  11. Murugan Vaiyapuri says

    4800000000000 [4.8 lakh crore] rupees black money goes out of India to foreign shores!//.

  12. Praveen Uppidada says

    destroy those indian politicians….. shame for indian govt…..

    1. Mohandas Karamchand Gandhi says

      y to destroy them,lets bring down from the throne nd we people take that place for a better india.if u agree wid me contact me on 8142387250.

  13. Praveen Halgekar says

    u r right men………………..

  14. Mani Kandan says

    it's realy shame for indian govt……..

  15. Chandra Prakash K says

    New Accounting Terminology.

    1 Cr = 1 Khoka.
    500 Cr = 1 Koda.
    1,000 Cr = 1 Radia.
    10,000 Cr = 1 Kalmadi.
    1,00,000 Cr = 1 Raja.
    10 Kalmadi + 1 Raja = 1 Pawar.

  16. Sachin Gupta says

    chek this site.

  17. Bidyadhar Dehury says

    hang up those politicians who have black money in foreign banks, those selfish politicians are reason for poor, hungry peoples in India.

    1. Rls Avk says

      send an add request to the id "[email protected]".we r trying to take a right move to bring change in this society.

    2. Mohandas Karamchand Gandhi says

      y to hang them up,lets bring down from the throne nd we people take that place for a better india.if u agree wid me contact me on 8142387250

  18. Apurv Jain says

    [email protected]*& all the black money holder.

  19. Ashish Zandawala says

    new formula

  20. Naman Jain says

    it is realy shameful for indian govt….

    1. Akansha Bagmar says

      y is it shame full

    2. Mohandas Karamchand Gandhi says

      so lets change this govn,if u r interested contavt me on 8142387250

  21. Bhulan Kr Shah Amrit says

    4800000000000 [4.8 lakh crore] rupees black money goes out of India to foreign shores!//.

  22. Benjamin Deva says

    the youngsters should start a rvolution against the government, to pressurise the government to bring back the black money to our coutry.

    1. Rls Avk says

      send an add request to the id "[email protected]".we r trying to take a right move to bring change in this society.

    2. Mohandas Karamchand Gandhi says

      do u really fight for the nation? if so contact me on 8142387250

    3. Ayushi Maheshwari says

      Mohandas Karamchand Gandhi -wat u gonna do??

    4. Mohit Sachan says

      same as mine question

  23. mahesh says

    hi dir sir please black money pasa india information please sir

  24. Hasmukh Shah says

    I feel that whole system i.e. Parliament members,Ministers and their staff including Secretaries,Exise Inspectors,Custom Officers,Vat/Central Sales Tax Authorities,CPWDS and PWDS and what not? The list can be very very very lengthy as the figure of Black Money is appearing. Our great freedom fighters who have sacrificed for our country,might not have even thought about such a extreme situation of our country.I feel that Shri Vallabhbhai Patel has scaped Rajasahi,but Shri Vallabhbhai must born again and scrap our new Rajas i.e. Parliament Members and Nokershahis.Wherever there is power they have mis-utilised the same and we all Indians are the victims.Only almighty can help us .Let us pray.

  25. aravinth says

    hai sir please that black money take overr from other countries to use indian peoples

  26. Nitin Kale says

    who is responsible for black money? goverment or goverment workers……………..

  27. Nitin Kale says

    who is responsible for black money? goverment or goverment workers……………..

  28. Nitin Kale says

    who is responsible for black money? goverment or goverment workers……………..

    1. Rls Avk says

      send an add request to the id "[email protected]".we r trying to take a right move to bring change in this society.

    2. Gopal Bishnoi says

      government workers. I am trying to stop these by my method

    3. Mohandas Karamchand Gandhi says

      i'll add my methods to ur's nd lets change this country,if u agree contact me on 8142387250 or mail me.

  29. Himanshu Patel says

    New Accounting Terminology.
    1 Cr = 1 Khoka.
    500 Cr = 1 Koda.
    1,000 Cr = 1 Radia.
    10,000 Cr = 1 Kalmadi.
    1,00,000 Cr = 1 Raja.
    10 Kalmadi + 1 Raja = 1 Pawar.

    1. Ravi Parmar says

      ri8 bhai

  30. Suresh says

    Hello,
    Tehelka has published a list of black money account holders which Congress govt is not willing to make public. Here is the list:

    26 MARCH 2011 SATURDAY
    TEHELKAHINDI.COM TEHELKAFOUNDATION.ORG CRITICALFUTURES.ORG

    From Tehelka Magazine, Vol 8, Issue 6, Dated February 12, 2011
    CURRENT AFFAIRS
    BLACK MONEY
    Indian Black Money: The Swindler’s List

    ASHISH KHETAN accesses the black list that has been kept away from Indians for two years

    It is almost two years since the German Government had passed on the names and bank account details of eighteen Indians who had stashed their alleged ill-gotten wealth in the LGT bank of Liechtenstein, a well-known tax haven nation, 190 km from Munich, Germany.

    Germany had officially handed over the list to the Indian Government on 18 March 2009. Prime Minister Manmohan Singh and Union Finance Minister Pranab Mukherjee have since said more than once that this list cannot be disclosed to the Indian people. Opposition parties like the BJP and the Left Front have repeatedly said the names must be disclosed. The BJP has been accusing the government of shielding the names of the tax evaders and not doing enough to bring back the crores of rupees stashed away in tax havens.

    Thus, the list has become a subject of tremendous controversy and suspense.

    TEHELKA has accessed 16 of the 18 names, of which we are putting out 15 right now. These names include individuals as well as trusts. At this point, we are putting out 15 names without disclosing details like their addresses, the businesses they are involved in and the total money they have stored away in Liechtenstein. Abiding by the basic journalistic principle of proving the accused an opportunity to present their side of story, TEHELKA has approached each of these individuals involved and is awaiting their response.

    Once these individuals respond, we shall share the full details of who these people are and what they do. We shall also put out their responses. This, then, is the list.

    1. Manoj Dhupelia
    2. Rupal Dhupelia
    3. Mohan Dhupelia
    4. Hasmukh Gandhi
    5. Chintan Gandhi
    6. Dilip Mehta
    7. Arun Mehta
    8. Arun Kochar
    9. Gunwanti Mehta
    10. Rajnikant Mehta
    11. Prabodh Mehta
    12. Ashok Jaipuria
    13. Raj Foundation
    14. Urvashi Foundation
    15. Ambrunova Trust

    Two of them belong to Gandhi family.
    More details in tehelka website: http://www.tehelka.com/story_main48.asp?filename=Ne120211TheList.asp

    We need to make a revolution like Tunisia. Lets unite and show politicians are nothing without us common man. Pull the plug from congress govt .. fight for it.

  31. latha ramaprasad says

    hy friends find the way to fight with govt

  32. kapil sharma says

    hy all my friends who r giving acomments plz join bharat swabhiman of baba ramdev
    it is way to fight with govvvvvvvvvvvvvvtttt

  33. Vinay says

    Lets join our hands together. Do something innovative to make this reach each and everyone in our country. Still rural country doesn’t know even a single word about this. Media is more powerful, which is known by the ruling parties and they have already occupied this. So lets use the Internet Media to popularise this massive theft. And lets educate or communicate to whoever we interact.

    1. Suresh says

      Yes lets spread the word:
      Here is a motivational video on corruption (hear with sounds on )
      http://www.youtube.com/watch?v=G-vBH2u5sVs

      I heard of a patriot named Rajiv Dixit who was most likely poisoned and died in Dec 2010. He was actively involved in getting this black money back.
      A video of his talk : http://www.youtube.com/watch?v=QWvW-jmnhJo

      He was trying his best to clean up the system – Ramdev’s political party was backed through him heavily but unfortunately he is dead now..Search for Rajiv Dixit on youtube or wiki to get more of his patriotic talks.

      If you dont act now this less than 1% of the corrupt political population will continue sucking us through tax and price increase. Already they have done a lot of damage.

      Latest news ” Pranab Mukherjee is setting up an amnesity for black money and claims it may or may not be possible to bring back money.” Shame on this evil politician.

      The income tax department knows about the tax invaders..Why are they not making it public.. Isn’t this a panacea for our problems ? Why are we not shown about this as main news on TV channels like NDTV ?

      Jai Hind..

      Remember we are the people who feed around 30% of our hard earned income as tax to these less than 1% politicians. We have every right to enjoy a good life in our country, we should legally fight for it. Wake up!

  34. M. Guha Rajan says

    Indian are suppose to be the richest, if you can divide this money to the entire population of India

    On similar lines….

    http://indian-amps.blogspot.com/2010/12/are-indian-richest.html

  35. sandeep says

    Its a shame many farmers choose to kill them self if anual crop fail.
    I imagine their produce will be around 10-20 thousand rupees a year and if that fails they choose to end their life.

    Here we are speaking of billions of rupees rotting in some Swiss/German bank. All looted by our industrialists/ politicians..

    Questions:
    1. What does it take to bring our wealth back ?
    Opposition should fight back and so should we people.. Any takers?
    Media to showcase this case in main stream until the money gets back to us. Shame on NDTV there is not even a mention of this in their website ..

    2. What will India do with that money ?
    Connect Indian rivers north and south – so water crisis is solved for ever.
    Invest in green energy so we don’t rely on US or any oil nation.
    Make all govt projects track able by common man online.
    Insure all the farmers. Execute population control strategies. (eg: A poor man having more than 3 kids should undergo mandatory sterilization. The reason being he will not only ruin the new born life by not giving a quality of life but himself)

    Well that’s my dream. I can make it true..So can you.

    1. Suresh says

      What would it take to leak the details of the
      Black money account holders?

      It’s a given govt wants to hide it’s corruption
      by not making account details public.

      I appeal to all those patriots to somehow leak the account details of these black money holders(anonymously) and see what next Janta can do.

      1. Suresh says

        If anyone has the account details and name of persons, you can anonymously submit to wiki leaks here:

        http://wikileaks.ch/Submissions.html

  36. dpi says

    long live poor india! When its going to beat china?

  37. pushpendra paliwal says

    you missed something
    10 SHARAD PAWAR = 1 Madam

    1. rakesh says

      10000 pawar=1Madam.

  38. pushpendra paliwal says

    superlyk new accounting terminology lolz

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