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Scale of Corruption In 2006, the most recent Global Financial Integrity study, shows that the average amount stashed away from India annually during 2002-06 is $27.3 billion (about 136,466 crore). It means that during the five-year period the amount stashed away is 27.3x5=136.5 billion (about 692,328 crore). So the estimation that the Indian money stashed away may be of the order of $4.9 trillion (about Rs 250 lakh crore). This amount is about 4 times more than India’s current Economy i.e. $1.3 trillion.
Let’s understand how much money is $1.4 trillion....... If we assume India’s total population below poverty line is 1 crore (which is 85 lakhs actually), every person BPL gets Rs 2.5 lakhs. If we keep this money with World Bank, we can generate money which is more than the total money what India gets from all types of taxes. Therefore we can declare India as tax free country. Hence NO BLACK MONEY In case of no tax, petrol will be Rs 4 or 5 per liter
Potential Solutions.... Change the System Change the Govt. Spread the awareness Encourage youth to actively participate in politics and DO NOT BE cynical about it. Support the Movements already been started in India on a large scale.
Some innovative Ideas Increase automation in pulic sector. Right to Recall Stop printing Rs 500/- and Rs 1000/- bills. You can post your ideas on the website.
Movements in India India against corruption Bharat Swabhimaan Right to Recall There maybe others, which I am not aware of.
How can we contribute as SJSU Students??? The least we can do is spread the awareness through orkut, facebook, twitter. Log on to the website and post your ideas and suggestions. Talk about it with friends and family and support it. Participate in the activities as and when you get chance. Donate money for this holy cause, when ever your pocket allows you. Be an active member and volunteer if you want to.