4 ms·
Could you provide source to how you came about with that estimate?
by whitenoice 10y ago
Could you provide source to how you came about with that estimate?
- aianus 10y agoNot OP but the Indian Central Bank estimates there are ~$239 billion in outstanding currency [0], and the national wealth of India is estimated at $3 trillion [1]. Rich people have a much lower cash:wealth ratio than poor or middle class people so I highly doubt many rich people, no matter how corrupt, are losing more than 10% of their wealth with this move. [0] https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=38857 https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=... [1] https://en.wikipedia.org/wiki/National_wealth https://en.wikipedia.org/wiki/National_wealth
- denzil_correa 10y agoTax raids and White paper on Black Money by Min. of Finance.