Swiss banks have been the most coveted resort for countless corrupt politicians, industrialists and other money mongers who have drilled out the public’s affluence and stacked it in their secret personal accounts. According to the data received by the banks in Switzerland, amount of Indian money in Swiss banks is the highest when compared to other countries. Indians money in Swiss bank is worth $1500 billion wherein the count is $470 billion, $390 billion, $100 billion and $96 billion for Russia, UK, Ukraine and China respectively.
Now it is the most shameful matter for any country to top the list of ‘black money holders’. The lump sum is mainly the Indian politicians money in Swiss bank which is the property of Indian nation. This amount is almost 13 times heftier than the total foreign debts of the country. Also is equivalent to 40% of the annual GDP of India. Now the amount increases every year in leaps and bounds. The Indian Govt has remained silent over such a sensitive matter for years despite the fact that if retrieved, this amount can change the overall socio-economical scenario of the country overnight!
In India, Around 450 million people are compelled to live under the poverty line with countless farmers dying from starvation every year. Inflation is affecting Indian economy and hollowing the fiscal conditions unbelievably. Looking at the present Indian black money details, the Government should take stern steps to prevent the money draining as well as repossess the already transferred amount at the earliest.
Lately Reserve Bank of India has exercised certain regulations to control international financial transactions. It has also exerted pressure on the Swiss banks to disclose the lists of tax-evaders so that they could be legally tried. After a prolonged silence, recently, on September 21st, 2011 Swiss banks have agreed to provide the Govt. with the list. Though they will not reveal the account numbers of these black money holders, they will provide the Govt. with the names of the account holders. After that the government is free to ask for explanation from those money mongers and get the details of the worth of their property and source of income.But Govt. stand is very lethargic on this issue, as most names in the list could be of these politicians themselves.
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