paragraph on war on black money in india
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Around 22,000 crores of rupees are supposed to have been accumulated by the criminals for vested interests, though writ petitions in the supreme court estimate this to be even larger, at ₹300 lakh crores. The total amount of black money deposited in foreign banks by Indians is unknown.
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In India, black money is funds earned on the black market, on which income and other taxes have not been paid. ... The total amount of black money deposited in foreign banks by Indians is unknown. Some reports claim a total of US$1.06 – $1.4 trillions is held illegally in Switzerland.
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