Sunday, August 28, 2011

Indian Money in Swiss Accounts

Whole nation is happy with the resolution passed unanimous by the parliament on Saturday evening. Today, Anna Hazare broke his fast and indicated for some reforms on election. But he forgot to mention about the black money issue during this whole agitation. Recently wikileaks posted 22 names of Indians with amount in Swiss bank.

Late PM Rajiv Gandhi & Anna Hazare 
One Name is leaked with  Swiss A/c
Other is Silent on that Issue
These names include the biggies of Indian politics like Rajeev Gandhi, Laloo Prasad Yadav, Karunanidhi, Kalanidhi Maran and Paswan. In the accounts of of Rajeev Gandhi is a sum of Rs 1,98,000 Crore. Karuna Nidhi has 35,000 Cr whereas Laloo Prasad Yadav Sarath Pawar 29,800 Cr.and Rs 28,000 Cr respectively.

WikiLeaks founder Julian Assange in an interview to Times Now had said in the month of April that the black money mainly comes from India. Assange had said the names of the Swiss bank account holders will be revealed. Assange in that interview pulled up the Indian government for not acting tough on tax evaders even when the out flow of black money was more than any other country.

Should I save my asset of
Rs 1,200 Cr or fight
against Black Money
After this revelation there were some discussion and yoga guru Baba Ramdev staged a huge dharna in Ramlila ground. After initial rounds of discussion the government cracked down on protestors with force on 5th June midnight and forcibly removed the yoga guru from Delhi to bring an end a high-profile hunger strike against black money. 

The black money issue has gone on back burner. Meanwhile, the central government has set up a multi-disciplinary committee with top officers to probe the issue of black money parked in foreign tax havens. But refused to make public names of the people who have stashed black money in foreign banks, saying it is not possible to disclose information received from foreign governments under Double Taxation Avoidance Agreement.

The Supreme Court had questioned the government's approach to the whole issue of black money. The apex court had asked the government to have "full-fledged" involvement in the disclosure of source of money stashed in foreign banks which may be terror money or money coming from drug peddling.

But the question is that after reading this list is there any possibility that the government would act or would it not give safe passage to clear and shift this money to some other place. There have been media reports that more than 50% money has already been withdrawn.

List  of  22 Names in circulation courtesy Wikileaks.
Will the Government act on it?

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