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Income from black money more than the expenditure on education and health sectors

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By NewsGram Staff Writer

A new study conducted by Global Financial Integrity (GFI) has revealed that in India the riches acquired through black market are more than the expenditure on education and health sectors.

The average yearly income from crime, corruption, tax evasion and other illicit finances were nearly 120% more than the government’s annual education spend and about 100% more than health expenditure.

The report coordinated outflows of black money from 82 developing countries and found that the poorer the country, the more money is illegally taken out from it.

Reportedly, the investigations have shown that globally, 80% of the illicit financial flows take place through trade misinvoicing done by international corporate companies.

In India, this component exists more predominantly, accounting for over 98% of illicit financial outflows.

The average yearly illicit outflow in India for the years 2008-12 was 4% of GDP, 10% of trade, 215% of foreign direct investment (FDI), 40% of total tax revenue and 0.7% of capital stock, the report stated.

The report also found an association between illegal financial flows and higher levels of poverty, higher levels of economic inequality, and lower levels of human development.

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Microsoft India Partners with Rajasthan Government on Tech-Driven Education

Microsoft said it will also train educators from government colleges through the Microsoft Innovative Educator Program

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In a blog post on Friday, Microsoft President Brad Smith said a government initiative to regulate the proper use of facial recognition technology is the need of the hour.
In a blog post on Friday, Microsoft President Brad Smith said a government initiative to regulate the proper use of facial recognition technology is the need of the hour. Pixabay

Microsoft India on Monday said it has signed a Memorandum of Understanding (MoU) with the Rajasthan government to improve the integration of technology in teaching and skilling of students and educators in government colleges.

As part of this agreement with the Rajasthan government’s Department of College Education, Microsoft will train a total of 9,500 students and 500 faculty members from 50 colleges in the state in four months.

Students will be awarded certificates on successful completion of the course, Microsoft India said.

The agreement was signed here in the presence of Rajasthan Education Minister Kiran Maheshwari and Pratik Mehta, Director Sales — Education, Microsoft India.

Logo of Microsoft outside it's office
Logo of Microsoft outside it’s office, Pixabay

This initiative will enhance employability of youth in the state in addition to empowering them with technical education, Maheshwari said.

The training will be imparted to more students at a later stage, she added.

Also Read: Microsoft ‘Music & TV’ App May Arrive on Android, iOS

Microsoft said it will also train educators from government colleges through the Microsoft Innovative Educator Program, building capacity for innovative use of information and communications technology (ICT) in the classroom.

Professional development content for educators such as the Microsoft Teaching with Technology, will also be made available through the Microsoft Educator Network, the company said, adding that it will provide free resources, tools and software through the Microsoft Educator Network, which will enable educators to garner learnings from global discussion groups and mentoring sessions. (IANS)

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