Indian black money Black 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
Black money in Swiss banks While official numbers are not available, Swiss banking officials have said that the largest depositors of illegal foreign money in Switzerland are Indian In 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 banks Rudolf 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.
Monopoly……. A monopolist maximizes profit by producing a little less than the market equilibrium, driving up the price of the good. This creates a deadweight loss to society, (some mutually beneficial transactions are forgone), which is why a monopoly is discouraged or illegal in many parts of the world.
India not serious aboutunearthing black money inSwiss banks Rudolf 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 BankAccounts Swiss 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
Unlike many media portrayals, the mass usage of Swiss banking by both questionable and legitimate clients alike is actually based in reality; as recently as 2009, the financial sector represented over 11% of Switzerland’s Gross Domestic Product (GDP) and employed almost 200,000 people, over 5% of the total Swiss workforce, not to mention employing over 100,000 people abroad. In 2001, Swiss banks managed .6 trillion American dollars. That number has decreased for numerous global market reasons, but is still strongly impressively and impressively strong.
The reasons why people useSwiss bank accounts? Secrecy Neutrality Quality
Is India a poor Country IsIndia 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?
Y 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.
What if dis money cums back?Yahan mat dekhoYeh mein bolunga
Can we bring back ourmoney? Itis 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.