Black Money Impact On Rupee

Both Houses of parliament were adjourned on Thursday as opposition lawmakers continued their attack on the government over the impact of its ban on 500 and 1000 rupee notes. Today was the second day of the winter session. Union finance minister Arun Jaitley later rejected all demands of the opposition.

The estimates of how much black money is stashed abroad have varied widely. Some studies estimate black money at just $2 billion (nearly Rs 12,000 crore), while others peg the amount at staggering $2 trillion (Rs 120 lakh crore), which is roughly the size of our economy.

Both Houses of parliament were adjourned on Thursday as opposition lawmakers continued their attack on the government over the impact of its ban on 500 and 1000 rupee notes. Today was the second day of the winter session. Union finance minister Arun Jaitley later rejected all demands of the opposition.

The estimates of how much black money is stashed abroad have varied widely. Some studies estimate black money at just $2 billion (nearly Rs 12,000 crore), while others peg the amount at staggering $2 trillion (Rs 120 lakh crore), which is roughly the size of our economy.