BJP Commissioned  a think tank to guestimate the amount of money slashed abroad which included IIM -B Professor Vaidyanathan , Chartered Accountant and corporate mediator Gurumurthi besides a couple of others- who were actually RSShench men. This group based on a report in an unknown newspaper claimed that Rajiv had a secret Account for which Sonia and her son are declared legal heirs. Much more, this money was paid by KGB a claim which was rubbished by Sonia in her letter to Advani. Advani true to his style of keeping decency accepted and quickly apologised which led to the team disowning the man who commissioned the study in the first place.

There are views divergent from each other on this issue. Some feel that this money should be given back to the holders after levying the tax due on them while others feel they should be confiscated. The money could be belonging to our businessmen earned through under invoicing  exports and over invoicing imports or a combination of both.In both the cases, shareholder money has been siphoned off. It is a criminalbreach of trust and warrants maximum punishments as is sought to be made of Rajat Gupta. Some feel that the exceesive level of personal income tax paved the way for flight of capital and now with rates which are more moderate they could be given amnesty to take back the money legally after paying taxes. This is a suggestion which seems practical and we would brought this money to our monetary system which could spur investments in critical segments of economy. If you order confiscation, that could spell doom. Already there is a belief that the money in stock markets through Participatory notes are our own money coming back from fictitious accounts held in tax havens. This will be easier for those money hoarders without paying taxes they can reap capital appreciation and dividend pay outs,

There are another class of hoarders who are our politicians who could have lodged the kick backs in such secretive accounts. That money needs to be consifiscated because it is legitimately not their own. It is perhaps for this reason the Government is dithering on technicalities in revealing the names of holders of LBS Bank which has been a matter of conjecture. Three Members of Parliament figure in thislist.

Corruption  is a serious issue and eradicating corruption calls for an overhaul of our electoral system. State funding of elections, allowing only parties to contest the elections and the task of finding the candidates should be left to party leaderships . to avoid discrimination on the basis of caste, gender and religion, one can mandate the distribution to be in the lines of our own reservation policy. That way even a high caste party could not ignore marginalised sections in the society. Creating a monstrous ombusman in the form of Lokpal  alone will not solve the issue. Large scale e governance measures are required to eliminate corruption in delivery side of government schemes. Tax laws could be made much more simpler to encourage voluntary compliance by individuals and corporates. The much talked about DTC is also a laborious compilation of laws, rules with sections and sub sections couched in languages with enough room for intrepretations. We people should be vigilant in observing rules for ourselves and be willing to sacrifice personal comforts for national causes. Until such time, fighting this menace will only remain an utopian pipe dream.