Posted on August 16, 2010


Is Bharat a poor Country? This is so shocking… wish black money deposits was an Olympics event…India would have won a gold medal hands down. The second best Russia has 4 times lesser deposit.

DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $ 1500 billion, which have been misappropriated by them. This amount is about 13 times larger than the country’s foreign debt. With this amount 45 crore poor people can get Rs 1, 00,000 each. This huge amount has been appropriated from the people of India by exploiting and betraying them. Some 80,000 people travel to Switzerland every year, of which 25,000 travel very frequently. Black money in Swiss banks — Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:

Top five:

India—- $1,456 billion

Russia —$ 470 billion

UK ——-$390 billion

Ukraine – $100 billion

China —–$ 96 billion

Now do the maths – India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947. Can we bring back our money? It is one of the biggest loots witnessed by humankind — the loot of the Aam Aadmi (common person) since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businesspersons.

What is to be noted here is that most of the wealth of Indians parked in these tax havens is illegitimate money acquired through corrupt means. Naturally, the secrecy associated with the bank accounts in such places is central to the issue, not their low tax rates as the term ‘tax havens’ suggests. Remember Bofors? India could not trace the ultimate beneficiary of those transactions because of the secrecy associated with these bank accounts.


Posted in: Indian Economy