Black money problem

On return from just concluded G-20 summit in Mexico, Prime Minister told media persons that black money was a problem in the country but added that there was no magic wand to chase it away just on sight. He said that it was a problem that could take long time to solve. India was not the only country afflicted with this menace. The PM has not returned from the summit as a more satisfied man about national economy. He said that Euro zone had its adverse effect and our development had declined from 9 per cent to 6.5 per cent. He added that the flight of capital to European countries and the US had also partly caused economic recession. But the final outcome to which he referred was that no foreign country was going to come to the aid of India keeping in mind the vastness of the country. We appreciate his comment that India will have to depend on her own resources, human, and material, to emerge out of financial and economic hardships.


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