India 3rd in terms of black money outflow in 2011: Report

According to a report titled 'Illicit Financial Flows from Developing Countries: 2002-2011', total black money outflow from India in 2011 was nearly $84.93 billion (Rs. 5 lakh crore) which places India at the third place. Six of the top 15 exporters of illicit capital in 2011 are from Asia. Illicit outflows from developing countries have significantly outpaced their GDP growth.