Freedom of Expression
I received on my Email, following forwarded message. I want to share it with my friends on this blog.
IS INDIA A POOR COUNTRY?
Revelation of Swiss bank accounts
This is so shocking. If 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. U.S. is not even there in the counting in top five! India has more money in Swiss banks than all the other countries combined!
Recently, due to international pressure, the Swiss government agreed to disclose the names of the account holders only if the respective governments formally asked for it. Indian government is not asking for the details. No marks for guessing why?
We need to start a movement to pressurize the government to do so! This is perhaps the only way, and a golden opportunity since the elections are expected soon, to expose the high and mighty and weed out corruption!
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 crores 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. Once this huge amount of black money and property comes back to India, the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably. That means we can have a tax-free budget! Can you believe it?
No income tax, no sales tax, no excise and no octroi to be paid! This bonanza for unearthing this wealth is worth the attempt.
Some 80,000 people travel to Switzerland every year, of them 25,000 travel very frequently. 'Obviously, these people won't be tourists. They must be traveling there for some other reason,' believes an official involved in tracking illegal money.
Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country's wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks? 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 or 1.456 trillion
RUSSIA: $470 BILLION
U.K.: $390 BILLION
UKRAINE: $100 BILLION
CHINA: $96 BILLION
Well, this is a report of 2006, now it is 2009 that means the amount lodged at the accounts has increased! Report says; these amounts are continuously increasing over the period.
Now do the math's - India with $1,456 billion or $1.456 trillion has more money in Swiss banks than rest of the world combined. Calculate the income-tax revenue lost over the period. Here our income-tax boys harass small tax payers for paltry amounts and there they are conniving at these big fishes, why? Can an income-tax commissioner come out and explain it to public? Is it the reason why all our public undertakings are in constant loss? Can the BJP big mouths like Munde and Advani come out and promise to unearth this wealth and bring it into India? I do not expect Congress to say anything in these maters since; their share in the loot is obvious!
Can we bring back OUR MONEY? It is one of the biggest loot ever witnessed by mankind -- the loot of the common man since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businessmen candidly without fear or shame. Can media chamachas (toadies) of these swindlers write on this matter? Are they paid to shut up on these matters? One rumor says, Congress working committee has promised all the swindlers total protection from such an exposure. They are dog sure of getting power for the next term.
The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear. What is even more depressing in that this ill-gotten wealth of ours has been stashed away abroad into secret bank accounts located in some of the world's best known tax havens? Tax heavens are places where taxes are lowest or none! And to that extent the Indian economy has been stripped of its wealth. Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of 'Swiss bank accounts,' the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones.
In fact, some finance experts and economists believe; tax havens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century, the western world explicitly encourages the movement of scarce capital from the developing countries to the rich. In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe.
The findings estimated that a large proportion of this wealth was managed from some 70 tax havens. Further, augmenting these studies of TJN, Raymond Baker -- in his widely celebrated book titled 'Capitalism's Achilles Heel: Dirty Money and How to Renew the Free Market System' -- estimates that at least $5 trillion have been shifted out of poorer countries to the West since the mid-1970.
Why blame the western world? It is our own people who indulge in it; so let us talk of our own defects and try to correct rather than keep blaming the western world.
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; and how India could not trace the ultimate beneficiary of those transactions because of the secrecy associated with these bank accounts?
IS THERE ANYONE WHO CAN SAVE INDIA?
PASS IT ON IF YOU ARE A PATRIOTIC CITIZEN OF INDIA
Sent by Charekar and Alok Jatratkar
Following queries come in my mind...
Why income tax department is not pursuing the matter?
Why the great economist Manmohan Singh and his pupil the great Mr. percentage, Chidambaram are not showing their ardent interest in unearthing these individuals who have been stealthily removing this wealth out of India since 1947?
Will any notary conduct legal process against our government to find out why this government is not asking the names of those Indians who have deposited this money to the Swiss Bank and make it public?
Will Raj Thakaray of new party MNS from Mumbai make it the election promise to the electorate that his party will, if elected, force the government to request Swiss Bank to declare the names of those Indians having account in that Bank?
I am sure if Raj makes it the election promise, All his candidates in Mumbai will get elected. Provided, Thakarays are not keeping their fabulous wealth in Swiss accounts!
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