Thursday, May 19, 2011

Black money ( THE UGLY TRUTH -3)

This is the third article in the series of loopholes that is bugging our country. The topic is pretty familiar that is black money/ bribery . A month ago the nation was storming behind mighty Anna Hazare in the Jan Lokpal Bill movement. I firmly believe even if the people were not aware what the issue was still they were supporting as it was the hottest topic at that movement. IT WAS IN and kind of became a status for some. Although there were enough genuine supporters for the movement but still the posers were more. But whats with the black money possessed. How big it is in number and how it is making us poor ( strange but true!).


The hard reality is 3/4th of the country does not earns $1 per day. Its hard to get three meals for the majority of the population. If comparing the GDPs India and South Korea were almost similar in the year 1947. But South korea was developed by the year 2000 but India is still a long way to go. The blame is for policy makers but even we are also culprit equally as they are. Almost 1/7th of the population has witnessed first hand experience of corruption and 50 percent of the bribery is only to get the work done. We bribe for doing the work that was supposed to be free. If the government officials are getting extra income for doing the work on time in addition of their usual pay why would they do it for free. The act of bribery starts by giving not just taking. Taking the bribe just completes the procedure. Our country rank among the highs in the rankings of the most corrupted countries. Billions and trillions dollar of black money is lying in the swiss bank. India is poor but Indians are not thats the way we are. 


As of 2010 the swiss bank scam, Rs 70,000 crore of legal revenues are due to Indian authorities are being held in swiss bank accounts. According to Wikipedia Indians possess more black money then the rest of the world combined. (Here we top the list ). Indila tops the list for black money in the entire world with almost US $1456 billion in Swiss banks (USD 1.4trillion approximately) in the form of black money. The assets lying in swiss banks is around 13 times the country's national debt. Only Hasan ali legally is required to pay a tax in surplus of Rs 50,000 crore. He might be the fourth richest person of India if he ends up paying all his taxes. The government does not have any idea when did he end up earning so much. There is no treaty signed with Swiss government due to which we are unable to get the account details. Such is a state of Our mighty India. The CWG scam became the butt of jokes as soon as the games got over. Although everyone was aware of the scam still there were no efforts to stop it. So many scams in numbers and the amount of bribery is weakening the country to its core. The government said that the only possible hope Jan Lokpal Bill will be introduced in the monsoon session of 2011. Lets see the Bill that failed 10 times will it be able to pass anywhere soon. Will the black money be brought back. Will the government instead of just blabbering will shut up and do work?


These are just questions and issues and don't know when they will be answered.

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