First time in India issue raised of black money by any political party it was Bhartiya Janta Party senior leader Mr. Lal Krishan Advani during second phase of 15th Loksabha Election and he declared at that time if his National Democratic Alliance got majority then black money will be in the list of top priority of their agenda to bring it back in the country. Then later on when Manmohan Singh become Prime Minister of the country for second consecutive time then his government set up task for first hundred days and black money was one of task in the list, but with passing time government’s agenda of hundred days prove mere a wish list, now from time to time voice raised in the country by economists, intellectuals and media to bring back black money in the country as it is such a large amount that India’s score of problems will be solve in a jiffy and it can be utilize to repay debt, uplift the living standard of more then half of the population of country, but all it need will power and guts to take action as money deposited in the tax heaven countries by Indians through corruption and tax evasion hence they have strong relations at the highest level, and to expose them its not a easy job.
As per report by famous organisation Global Financial Integrality based in Washington reveal that from last eight years five trillion rupees deposited in foreign banks through secret accounts by Indians, it’s a whooping amount and that’s not all organisation’s junior economist Carlo Carsio in the report coded that the said money earned by corruption and tax evasion. Wealthiness is increasing in India but due to lot of chunk of money siphon off to tax heaven countries hence money is not pumping in the country’s development projects which is the main cause of poverty, hunger, backwardness and cries. Out of 1.2 billion population of country seventy hundred million are spending there lives on merely at twenty rupees per day, which is ridiculous when one listen the statements of politicians that lot of work has done for general public socio and economical upliftment.
To strength the world economy an organisation constitute which have thirty three countries as members, and the name of the organistation is Economic Contribution and Development Organistation (E.C.D.) and its assessment is that developing countries six trillion rupees are lying in foreign countries which named as tax heaven. Below are some different opinions that how much black money Indians have deposited in the foreign banks –
- Tax Justice Network predicts black money of Indians deposited in banks is worth one trillion rupees.
- India Economic expert Arun Kumar coded in his book “The Black Money Economy in India” that five trillion rupees of Indians are deposited in the foreign banks.
but if one go through the report of Swiss Bankers Association of year 2006, top five countries whose nationals have deposited money in Swiss banks are 2.512 trillion dollars, and countries are –
- India
- Russia
- Britain
- Ukraine
- China
but shocking revelation of report is that out of 2.512 trillion dollars more then half that is 1.456 trillion dollars or 57.96 % are of Indians. If 6.55 trillion rupees comes to India then in jiffy India’s foreign debts can be written off or black money can be distributed among poor people of the country per family with rupees one lakh to seventy million or with interest of black money government of India’s budget can be handle.
It is a dream and wishes of intellectual and patriotic nationalist of this country that if a strong leader take charge of Central Government then it is possible other wise black money will remain out of reach and utility for country.
