Thousands of crores leaving India :
During 2014 Poll Campaign, Narendra Modi promised to bring all the Black Money stashed in the foreign countries. Not only did people believe it, but also voted for BJP. Unfortunately, nothing much happened in the past four years.
Forget about Black Money, Even White Money is leaving the country after BJP formed the Government. Reserve Bank of India (RBI) increased the limit of money flow out of the country in the recent years. While Rs 915 crore had flown to foreign countries in 2015, This has risen to Rs 7100 crore in 2017. While the conversion of Indian currency is about Rs 10,400 crore in 2015, It has gone up to Rs 30,000 crore in 2016.
As per the report, Most of this money is being spent by Indians for foreign tours. While 31.43 percent was for Foreign Tours, 26.55 percent is for family members in other countries and 18.88 percent is for Education.
According to World Travel & Tourism Counsel, Rs 1.60 lakh crore of Indian currency will be converted to foreign currency per year by 2024. In the first five months of the financial year 2017-18, $23.5 billion were spent by Indians to buy assets in foreign countries.