Black Money: Supreme Court Enters Into The Ring

       Issue of money deposited by Indians in the Tax Heaven countries simmering in the country from quite a long time or if one has to be specific then at the time of second phase of general elections for 15th Lok Sabha held in India then N.D.A. leader raise the issue of black money and declared if there alliance comes into power then they will take initiatives on priority basis to bring back black money within hundred days, but N.D.A. does not get the peoples verdict, thus issue of black money becomes a imaginary story, but since then it keeps on becoming matter of concern at different platforms of society, money deposited by Indians vary from source to source, 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 two lakhs or with interest of black money government of India’s budget can be handle.
     U.P.A. at the time of taking charge of country for second time it set agenda for its next one hundred days of office and happily bringing back black money of Indians from other countries was one of them, but with every passing time and Central Government’s ministers keep on trapping into one after another controversies, scams, problems which becomes major issues for government to handle then of black money, likes –

• Mr. Shashi Tharoor resigns from his post of minister of state for external affairs due to his activities behind the curtain for franchisee of Kochi IPL team.
• Mr. Suresh Kalamdi and his team of Organising Committee of Common Wealth Games accused of massive corruption while awarding almost every contract, which rock the nation, plus till the beginning of the games one week before everything appears half prepared and then PMO took control and India was able to host the games.
• Mr. Sharad Pawar Union Minster of Food and Agriculture was in news for months because of his statements in the media relating to shortage of essential commodities which sky rocketed the prices one by one and no items of kitchen left untouched by this phase and till date people are sufferings and feeling the heat of inflation and lobby of hoarders and black marketers are harvesting uninterruptedly crops of profits which seeded by Union F&A Minster’s statement in the media about huge shortage between demand and supply.
• Mr. A. Raja accused of over sighting every rule of books at the time of allotting 2G spectrums to different telephone operators in the country and help certain players but at the cost of lose to the government exchequer in tune of somewhere in between 90,000 Crores to 1,76,000 Crores of rupees.
• Adarsh colony scams which was built for army personals but allotments to relatives of former Chief Minster of Maharashtra make uproar in the country then it comes to end after resignation of CM.

So it create problems for Government much more then it can handle in very short span of their governance of less then two years thus issue of black money disappear from the radar of Indian Government.
      Now last week Supreme Court steps into the ring of black money courtesy petition file by senior lawyer of Supreme Court & M.P. of BJP Mr. Ram Jethmalani. Supreme Court seeks explanation from government that why it is not interested to public the names of account holders which have accounts in the tax heaven countries? In response to this question Government representative Solicitor General of India Mr. G. Subramanian told the Court that Indians having accounts in German, Indian government has received the list but government do not want to disclose it. In response to it two judge bench asked what is the problem government seeing in making the name public? On which ground Government is not sharing it with everybody? While considering the Court’s tough approach Solicitor General of India replies that after getting direction from government he will tell the names of account holders to the Court.
      Although it is the responsibilities of the Government to take care of its assets/wealth and if due to some reasons if somebody siphon off then need to take action on priority basis, and moreover amount of money involved in this issue is massive which should be bring back by government on priority basis instead government is silent on to it, why it is so? Only Government of India can answer.