Advani correct, India ranks fifth in ‘dirty money’ outflow

India ranks fifth in ‘dirty money’ outflow

In the wake of the issue of illegal outflow and parking of huge sums of money in foreign banks by Indians raised by Leader of Opposition LK Advani and other Opposition leaders, comes the latest report by Global Financial Integrity (GFI) that has ranked India fifth among 127 countries in illicit financial outflows. According to the report, the total illicit financial outflow from India was US $27.3 billion per year (during the period 2002-2006).

The GFI is a study group operating from Washington and supported by Ford Foundation with an aim to bring ‘financial transparency’ and expose ‘dirty money’ by advocating a curb on tax havens.

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