BLACK MONEY

BLACK MONEYIndian black moneyBlack money refers to funds earned on the black market, on which income and other taxes has not been paid. The total amount of black money deposited in foreign banks by Indians is unknown, but one estimate by R Vaidyanathan, a Professor of Finance, estimated the total at over Rs 7,280,000 Crores

Corruption in IndiaRecent Scams like 2G scam, Coal scam , Common Wealth, etc.,Money slashed in Tax havensCriminalization of PoliticsBureaucracy Land and Property Selling and BuyingTendering process

Scams in India2G Spectrum Rs. 176,00,000 Cr. (A.Raja)Common Wealth Games Rs.70,000 Cr. (Suresh Kalmadi)Stamp Scam Rs. 20,000 Cr. (Abdul Karim Telgi)Fodder Scam 900 Cr.(Laloo Prasad Yadav)IPL Scam (Latit Modi)Disproportionate Asset case 60 Cr.(Jayalalitha )

Indias rank 16th in Asia and 87 in the world list.

Black money in Swiss banksWhile official numbers are not available, Swiss banking officials have said that the largest depositors of illegal foreign money in Switzerland are IndianIn August 2010, the government revised the Double Taxation Avoidance Agreement to provide means for investigations of black money in Swiss banks.

Black money in swiss banksRudolf Elmer provides the list of famous Indians to Wikileaks. He also revealed that black money was started depositing in Swiss Banks in early 70s by some of the names of India through illegal mining, stock market, drug dealing, fake projects,etc.,

India not serious about unearthing black money in Swiss banksRudolf Elmer, a rare whistleblower who has brought out much information on secret Swiss banks accounts, has accused the Indian government of not being serious enough in getting details of black money stashed away in Swiss banks.

Why People Use Swiss Bank AccountsSwiss bank accounts are especially attractive to more illicit operations, and are apparently popular for illegal purposes. Even with law-abiding questions aside, Swiss banks are often portrayed as among the premiere financial institutions on Earth, catering to the wealthiest people and companies that the global fiscal scene has to offer

The reasons why people use Swiss bank accounts? SecrecyNeutralityQuality

Is India a poor Country?Is India poor, who says? Ask Swiss banks With personal account deposit bank of $1500 billion in foreign reserve which have been misappropriated, an amount 13 times larger than the countrys foreign debt, one needs to rethink if India is a poor country?Why India is poor?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.

Can we bring back our money? It is one of the biggest loots 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.

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