Re:India's Misguided War on Cash
by kamaal on Tuesday November 22, 2016 @10:35AM
(#13014769)
>>A large portion of the black untaxed money is untraceable in the form of cash
No.
The very rich repatriate their money through Foreign banks and investments.
Middle class and Upper middle class has long in India parked their money in lands and houses.
Lower middle class typically goes with gold.
Poor barely have money and whatever little is in cash savings.
People who think rich Indians sleep on mattresses filled with cash have no clue what they are talking about. That whatever cash the rich you seen throwing in lakes and streets is more like pennies left in a long forgotten pant in some old wardrobe. There are thousands of such pants those people own.
No.
The very rich repatriate their money through Foreign banks and investments.
Middle class and Upper middle class has long in India parked their money in lands and houses.
Lower middle class typically goes with gold.
Poor barely have money and whatever little is in cash savings.
People who think rich Indians sleep on mattresses filled with cash have no clue what they are talking about. That whatever cash the rich you seen throwing in lakes and streets is more like pennies left in a long forgotten pant in some old wardrobe. There are thousands of such pants those people own.