Is India poor
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 country's foreign
debt, one needs to rethink if India is a poor country?.
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
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
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.
Some 80,000 people travel to Switzerland every year, of whom 25,000
travel very frequently. "Obviously, these people won't be tourists. Th=y
must be travelling there for some other reason," believes an official<=r> involved in tracking illegal money. And, clearly, he isn't referring to
the commerce ministry bureaucrats who've been flitting in and out of
Geneva =ver since the World Trade Organisation (WTO) negotiations went
into a tailspin!
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
banks?
Black money in Swiss banks -- Swiss Banking Association report, 2006
details bank deposits in the territory of Switzerland by n=tionals of
following countries:
Top five
India---- $1,456 billion
Russia ---$ 470 billion
UK -------$390 billion
Ukraine - $100 billion
China -----$ 96 billion
Now do the maths - India with $1456 billion or $1.4 trillion has more
money in Swiss banks than rest of the world combined. Public loot since
1947: Can we bring back our money? It is one of the biggest loots
witnessed by mankind -- the loot of the Aam Aadmi (common man) since
1947, by his brethren occupying public office. It has been orchestrated
by politicians, bureaucrats and some businessmen. The list is almost
all-encompassing. No wonder, everyone in India loots with impunity and=br> 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. And to that extent the Indian economy
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
have been shifted out of poorer countries to the West since the
mid-1970.
It is further estimated by experts that one per cent of the world's
population holds more than 57 per cent of total global wealth, routing
it invariably through these tax havens. How much of this is from India
is anybody's guess.
What is to be noted here is that most of the wealth of Indians parked in
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 ANY ONE WHO WOULD SAVE
INDIA ?God... No No No, even he can't....... ....!!
Thu Feb 19, 2015 11:16 pm by tjp
Subject: ~~ Is India poor ~~