RBI Governor on black money stashed abroad

ANAND: Stating that nobody knows the exact amount of black money stashed away in overseas tax havens, RBI Governor Raghuram Rajan Tuesday said lower income tax rates will help curb generation of such illicit funds.

"We need to focus on how to stop this practice (of parking money outside the country). We need to bring down tax rates to incentivize the upper class," Rajan said when asked about his views on curbing black money being stashed in tax havens.

He was here to deliver the third Dr Verghese Kurien Memorial Lecture.
(the new indian express)