Even as India continued to register one of the highest growth rates post-independence, rampant corruption resulted in an estimated illicit out flow of a whooping $125 billion between 2000 and 2008; a research and advocacy organisation has said.
The figures of $125 billion illicit outflow of money from India are part of a report to be released by the Washington-based Global Financial Integrity later this year."Much of the funds flowing out are generated at home within India and then sent illegally abroad. So the growth of corruption and India's underground economy contributes significantly to illicit financial flows from the country," said Karly Curcio, a junior economist at the Global Financial Integrity in a blog posted on its website."India's economic boom continues with an average growth rate of over eight per cent between 2004 and 2009 by GFI calculations," it said.more at rediff
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