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Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 is an Act of the Parliament of India. It aims to curb black money, or undisclosed foreign assets and income and imposes tax and penalty on such income. The Act has been passed by both the Houses of the Parliament. The Act has received the assent of the President ...
Political organizations, corrupt politicians and government officials take bribes from foreign companies then park or invest the money abroad in tax havens for transferring to India when needed. In addition, locally earned bribes, funds and collections are often routed abroad through hawala channels in order to evade Indian tax authorities and ...
Indian foreign aid is the aid given by the Indian government to other governments. India's major quantum of foreign aid is given to neighbouring countries. According to India's budget in 2021–22, its direct overseas aid stood at ₹ 18,154 crore (US$2.2 billion). [1]
Egypt hopes its imminent inclusion in the BRICS bloc of developing nations will help ease its shortage of foreign currency and attract new investment, but analysts say it may take time before any ...
In 2010, British newspaper The Guardian reported the aid received by India to be less than 1% of its GDP and has declined to take foreign aid recently. [1]The United States Agency for International Development (USAID) compiled and published a data in 2015 indicating that from the period 1946-2012, India has been the recipient of highest aid from United States.
[4] which grew to $67.6 billion in 2012–13, up from $66.1 billion the fiscal year, 2011–2012, [6] when the remittance exceed the foreign direct investment (FDI) inflow of $46.84 billion into India. [14] Money is sent to India either electronically (for example, by SWIFT) or by demand draft. In recent years many banks are offering money ...
Global analysts cut their forecasts of India's real GDP growth rate for the financial year 2016–17 by 0.5 to 3% due to demonetisation. [147] [148] India's GDP in 2016 is estimated to be US$2.25 trillion, hence, each 1 per cent reduction in growth rate represents a shortfall of US$22.5 billion (₹1.54 trillion) for the Indian economy. [149]
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