LET US GET INDIAN SWISS MONEY BACK TO INDIA
Lok Sabha elections are round the corner and can be declared any time by Election Commission. It is a golden opportunity for us to get illegal swiss money back to india.
Dishonest industrialists, scandalous politicians and corrupt bureacrats have deposited in their swiss personal accounts a huge sum of about US$ 1456 Billion which has been misappropriated by them creating scandals, scams and by corruption.
This amount is about 13 times larger than foreign debt. This amount is such a big amount that 45 crores of poor people can get Rs. 100000/- each. This huge amount has been collected from the people of India by exploiting their funds, and by betraying people of India. So in reality this entire amount belongs to the people of India. All such money kept in to Foreign Banks must be declared as National property and it should be brought back to India. And for keeping such money in foreign banks illegally, all dishonest industrialists , scandalous politicians and corrupt officers must be punished at least for 10 years of mandatory imprisonment or punishment.
The function of delcaring such money lying in foreign banks illegally as the national property can be done in Lok Sabha and Rajya Sabha only by making law. Government will not enact such law until there is heavy pressure on the Government from every corner of the country to make such a law because those who have collected such illegal money and kept into foreign banks are themselves sitting in the parliament and in the Government.
However, any Government has to yield to the heavy pressure of public opinion. Azadi Bachao Andolan is actively endeavouring to create such heavy pressure of public opinion to make such law. In this forthcoming election, we all have a golden opportunity to talk tough with the political parties and candidates, before elections on this issue.
People should declare not to vote for any candidate who does not promise in writing to make such law if elected in the parliament. If atmosphere is created, every political party and every candidate of every political party will have to promise to enact such law. Once all the candidates commit to enact such a law after they are elected in the parliament to get swiss money back to India, there is no one who can stop, swiss money coming back to India. All political parties should furnish an affidavit, before going to the elections, that they will enact this law within one year of being elected. If they are not able to enact such a law, people will have the right to recall such political parties and candidates. It should be binding on the political parties and no appeals to the court will be entertained by the judiciary. Reason being, we have a past experience of parties backing out from their promise, once elected.
Once this huge amount of illegal money comes back to India, entire foreign debt can be repaid immediately in 24 hours. After paying entire foreign debt, we will have surplus amount almost 12 times larger than the foreign debts. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central Government. So even though all the taxes are totally abolished, then also Central Government will be able to maintain their extravagant expenses and huge wastages of money as being done since last 50 years.
Dishonest industrialists, scandalous politicians and corrupt bureacrats have deposited in their swiss personal accounts a huge sum of about US$ 1456 Billion which has been misappropriated by them creating scandals, scams and by corruption.
This amount is about 13 times larger than foreign debt. This amount is such a big amount that 45 crores of poor people can get Rs. 100000/- each. This huge amount has been collected from the people of India by exploiting their funds, and by betraying people of India. So in reality this entire amount belongs to the people of India. All such money kept in to Foreign Banks must be declared as National property and it should be brought back to India. And for keeping such money in foreign banks illegally, all dishonest industrialists , scandalous politicians and corrupt officers must be punished at least for 10 years of mandatory imprisonment or punishment.
The function of delcaring such money lying in foreign banks illegally as the national property can be done in Lok Sabha and Rajya Sabha only by making law. Government will not enact such law until there is heavy pressure on the Government from every corner of the country to make such a law because those who have collected such illegal money and kept into foreign banks are themselves sitting in the parliament and in the Government.
However, any Government has to yield to the heavy pressure of public opinion. Azadi Bachao Andolan is actively endeavouring to create such heavy pressure of public opinion to make such law. In this forthcoming election, we all have a golden opportunity to talk tough with the political parties and candidates, before elections on this issue.
People should declare not to vote for any candidate who does not promise in writing to make such law if elected in the parliament. If atmosphere is created, every political party and every candidate of every political party will have to promise to enact such law. Once all the candidates commit to enact such a law after they are elected in the parliament to get swiss money back to India, there is no one who can stop, swiss money coming back to India. All political parties should furnish an affidavit, before going to the elections, that they will enact this law within one year of being elected. If they are not able to enact such a law, people will have the right to recall such political parties and candidates. It should be binding on the political parties and no appeals to the court will be entertained by the judiciary. Reason being, we have a past experience of parties backing out from their promise, once elected.
Once this huge amount of illegal money comes back to India, entire foreign debt can be repaid immediately in 24 hours. After paying entire foreign debt, we will have surplus amount almost 12 times larger than the foreign debts. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central Government. So even though all the taxes are totally abolished, then also Central Government will be able to maintain their extravagant expenses and huge wastages of money as being done since last 50 years.
posted by vaneet kundra at
Tuesday, February 24, 2009
3 Comments:
Indian citizens are reported to have hoarded away funds totalling about US$1,410 billion (equivalent to roughly Rs.68 lac crore or one and a half times India’s Gross Domestic Product) in banks in Switzerland and in other safe havens abroad. There is no way of judging the veracity of such reports because of the all-pervasive veil of banking secrecy in those places, but recently the Indian government investigators have come across some documentary proof of a Pune-based swindler owning a deposit of US$8 billion (about Rs.39,000 crore) in his bank account in Switzerland. And he is by no means the biggest fish in our huge pond of corruption and criminality. The astounding sum of US$1,410 billion is, therefore, unable to astound, and could be very much within the realm of credibility. This is our money for which Indians have toiled for years but now it is out of our reach and is available only to the most corrupt, crooks and criminals, making those traitors to the nation and their families obscenely super-rich for generations to come.
Traditionally, these secret bank accounts have been considered beyond the long reach of international law, the concerned banks taking a Cosa Nostra’s omerta-like oath of silence whenever there is a demand for disclosing the beneficial ownership or size of the funds involved. But happily now the situation seems to be changing. According to the US Dept. of Justice release of the 12th November 2008, a senior executive of a large Swiss bank has been indicted by the US authorities for providing, through his cross-border private banking service team, services to about 20,000 American clients who reportedly concealed assets of roughly US$20 billion from the Internal Revenue Service in clear violation of US law. Since the IRS is now doggedly pursuing, even prosecuting, those helping rich Americans stash away assets abroad and avoid paying US taxes, I reckon it is only a matter of time that the US authorities would succeed in recovering these and other
similarly hidden funds. In fact, it must have been the result of this indictment that the Union Bank of Switzerland has agreed to pay US$780 million, as a sort of fine, to the US authorities "to settle a sweeping federal investigation into its activities", according to a news item in the Times of India, New Delhi, of the 20th February 2009. The UBS would also reveal the particulars of 300 to 400 US clients and it would stop doing offshore business for US citizens, says the Economic Times, New Delhi, of the same date. Some people have declared that it is the end of the traditional Swiss private banking which had up to now ensured complete client secrecy.
This provides a bright ray of hope for India. If the Indian Government mounts a US-like, sustained pressure on Swiss banks and government, if need be with the US help now that we have a strategic alliance with it, the hitherto secret bank accounts can be pried open. After our victory over Switzerland, the other safe havens would not be able to last long. So in the next decade or so, if our government is successful in recovering even one third of the total amount, that would be US$470 billion, all our infrastructural needs would be comfortably met out of it. But unfortunately, for some unfathomable reasons of it own, our government seems to be content with complete inactivity in the matter. We will perhaps have to shout from the housetops to make it listen to our words of reason and stir into action. And the journalists, both in the print and electronic media, can play a big, constructive role here by lending their powerful support to the ‘Operation wake-up Indian government’. Then, hopefully, our stashed-away hundreds of billions of dollars would be trickling back to enrich India rather than Switzerland and other host countries of secret bank accounts.
Dear Mr Kanan Jaswal,
Thanks for your comments. Very apt and researched comments by you. Do you really think, that our govt. will pursue the illegal money stashed away in swiss banks ? I think you are in lock with me, that we all have to shout it out from rooftops to get this money back to India, where it belongs. What about main stream media ? Are they not aware of these accounts ? Why dont they come out with the truth ? I have written many times to the media, but have recd. no reply. What is stopping media to come out with the truth ? I think, we both know, greasing palms is the the best way. Media is no exception. Rather the biggest corruption house in India, is media as on today. All planted stories. You pay them and you get your story. This is the saddest part of our main stream media today. I cant pin point even one media house today, which comes out with the truth. So, the onus lies on us to keep shouting, but fortcoming Lok Sabha elections can be a hard bargain for politicians, if we, people of india, play our cards well. As mentioned in my article, they will have to promise to enact the law in Parliament, if they want our votes. It's hightime, we should demand, what belongs to our country.
Why these politicians cant be probed by patriot indians, who have looted indian wealth and be hanged privately ?
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