Introduction• Black money is not a problem of Rich persons. It is a problem of everyindividual. Directly or indirectly every persons life is effected by it. Afterseeing the stastics of the black money reserves Chief justice of India gotopen-mouthed. Thought about the results and felt bad.• Black money will be in green color. Smiling Gandhi’s photo can bedefinitely seen. Security thread can be seen. Reserve bank governorsignature can also be seen. No doubt. It’s printed by the government only.
• There is only one difference between black &white. It’s the accounting. • If it comes to accounting it’s white. Tax will be collected. Can be seen in accounts. • If not accounted it’s black. No accounts. No limits.
There are mainly 3 persons behind this black money. Irresponsible Politicians Illegal officers. Irresponsible businessmen. If these three gets united, then the country will be left to air.Who’ll question them? Who’ll ask them if they make that moneycross the borders? It’s always happening, and ever green business.
Who is responsible?• Starting from a middleclass person up to the person carryingthe money in his charted flights, all are the shareholders for theblack money. It’s a chain process. Starts some where ends atelse where.
What is tax? Where is the black money’s root?• When a individual’s income reaches to some extent he/she has topay 10% or 20% or 30% as tax to the govt. in order to run thecountries economy.• Doctors, engineers, lawyers, govt., private, self employes.So, middle class people are not showing their 30% of theirincome.(approx)• Businessmen maintains two accounts (1. Original, 2. duplicate).Producing duplicate products to reduce excise duty. Showing wrongpapers to reduce customs duty.
• The father of all illegal activities is POLITICS.• At the time of elections the Black Money flow can’t be stopped.• Some businessmen gives their Black Money as donations to the politicalparties.• No party can be given exemptions. No politician can be exempted.• 5 Yrs; One Party promise to bring the black money. Next 5 Yrs; anotherparty continues the same.• In the name of subsidies our state & central govt’s. are spending crores &crores. For MP’s & MLA’s there are local area development funds (MPLADS & MLA LADS).• According to our former PM Rajiv Gandhi “the needy is getting only `.0.15 out of `. 1.00 which the govt. is spending for them.”
• In the matters of International weapons business, buying ofdefense items the money gets deposited in individual accounts.• Yearly above 1 lakh people are going to Switzerland.• Truly speaking 74% of the people having income which is tobe taxed are not paying tax. - Aravind Viryani an Economist.• Because of this the difference between Rich & Poor getsincreased. And this may leads to separatism.
Why only in foreign banks?• Our film stars, politicians etc., deposits their earnedincome in the foreign banks.• Why only there? Why not in Indian banks?• Because they won’t ask – Where did you get the money from? – How did you earn this income?• They keep the account details very secretly.• Those countries law provide the safety to their money.
• Ligzemberg, LetenSteen, Channel Islands,Bahamas are some of the countries which takethe money which don’t have any receipt.• Some small islands also have the same as theirmain business.• According to Swiss banking Association up to2006 our Indians saved RS. 66 Lakh Croresblack money in Swiss Banks.
Why major portion ofthe money isdeposited in the Swiss
Switzerland• Switzerland. A small country which lives on the income from watches& chocolates. A 2nd country with highest per capita income.• Switzerland was neutral in both the world wars. Had good relationwith countries on sides. As a result it started a bank.• As Switzerland is a neutral country both the countries in the war cameforward to save their money. Made some laws to make the countriesbelieve them.• After the World War-II many changes came in the InternationalPolitics & industrial environment. All these helped Swiss BankingAssociation a lot in improving their banking.
Come….We’ll Execuse you!• Supreme Court is serious. Oppositions are raising their voiceagainst the govt. People are also thinking about the issue.• So the govt. introduced voluntary income publicity scheme.• Till now 6 times the govt.introduced this scheme. Lastly, govt.introduced this in 1997 when P. Chidambaram was finance minister.• Total Rs. 33,000 crores black money came out.• But that was very less when compared to the amount which isflowing in the market.
What other countries did?• America, Germany, Italy, Australia also suffered from the sameproblem of Black Money. But their rulers stopped the flow of blackcurrency.• Swiss banks returned the Rs. 28,000 crores of Ferdinand Narcos toNigeria, because of its pressure on the bank.• Returned Rs. 20,000 Crores of a Dictator Abacha to Nigeria, becauseof it’s pressure on the bank.• Returned money from Zardari’s, Benazirs account to Pakistan.• Small countries are also getting their money back. But we are noteven daring to ask the Swiss Govt.about our money.
Black Money Reserves 28% Black Money inside the country72% Black Money outside the country
Conversion of Black to White• As a boomerang the money goes out in the form of black.• Enters the country in the form of Black. It gets spent in the form ofWhite.• It comes to the place from where it went out.• There are many illegal ways to convert the black money to white.• They come back to the country in the form of Foreign InstitutionalInvestments (FII).• Thay sell the shares of FII in loss in the name of some other (BINAMI).• Now the money is totally WHITE.
• The govt says “Committee is there to study, making laws withthose countries.”• To say in one word in the past 60 years nothing had happened.• Except 2-3 committees, 6-7 voluntary income publicity schemes &international treaties.• Irresponsible govt., blackmailing partners (Political Parties) Rubberstamp rulers…they can’t speak in Parliament only.• Do they dare to speak on International Stage?
Black Money Reserves70 6660504030 2220 1810 4.5 40 India Russia Britian Ukraine China Figures in Lakh Crores
• It’s all our money.• Should be brought without leaving a single NP.• Let’s think of what to do after bringing back. 1. We can pay back the Foreign debts. 2. The black money reserves are 13 times greater than our debts. 3. 45 crore BPL Population can be given 1 Lakh per head as debt. 4. When it is used in Infrastructure side, 1. Can lay lakhs of kilometers of roads from Delhi to Galli (Streets). 2. Can lay new railway lines. 3. Can create employment for lakhs of unemployed youth. 5. If every village is given 4 crores they can be turned to Metropolitan Villages.
• If we dare to bring the black money back, it’s the greatestpunishment for the owners of that money.• It’s nothing impossible.• If the black money figures are increased then illegal activities alsoincrease.• If both are there then rates will be high, unemployment will bepresent.• If the same situation continues then Indian youth take the way ofEgypt youth.• The history itself teaches a lesson for those who don’t learnlessons from histroy