38 Black Money com

8/8/2019 38 Black Money com

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Who has, how much of Indias money?Avg. size of34 tax haven countries = 17 kilometers length (312 sq. kms)

Avg. population of34 tax haven countries = 1 Lac people only

Estimated Indian black money in tax havens: $500 billion (Rs25 Lac-crores)

Rs. 25 Lac-crores kitna hota hai? (ROAD)

Pradhan Mantri Gram Sadak Yojana (PMGSY) makes 1 km concrete road for avg. cost of Rs. 20 lacs ($40,000)With Rs. 25 Lac-crores, India can build 1.25 cr kms of road (33 times the distance between Earth & Moon)

Everything you wanted toknow about the Overseas

Black Money issue

Overseas Black moneythe curse that stops India from developing

The painting is 4feet by 4feet acrylic on canvas titled Aspirations of a rising people made by Vishal V. Sharma in 2007


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What are Tax Havens? Small countries like Switzerland, Angola, Bermuda, etc that act as places of

registration for overseas non-resident companies.

They have zero or very low income tax.

They ask no questions on the origins of the money coming into their banks.

They keep all banking records secret and cooperate very little with othercountries.

They have no contribution to the world, except as points on theworld-map where dirty money is kept safely.

Avg. size of 34 such point-countries = 17 kms by 17 kms.

Rs. 25 Lac-crores kitna hota hai? (POWER)

1 MW ofThermal powerplant costs India Rs. 4 crores ($800,000)With Rs. 25 Lac-crores, India can build 6 lacs MWs of power, and provide 24x7 3-phase power to all villages.





Black Money issue


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Money involved Total dirty money in tax-havens = $11.5 trillion (Rs 7.5 crore-crore)

Annually $1 trillion (Rs 50 lac-crore) being added

50% of this money belongs to the developing countries like India

Estimated Indian black money in foreign banks $500 billion (Rs 25 lac-crores)

2002-2006 (5 years) $137.5 billion Indian black money deposited (Rs 68,750 crores)

Source of info: Capitalism's Achilles' Heel: Dirty Money, & How to Renew the Free-MarketSystem. (2005) by Raymond W. Baker, MBA (Harvard) & Brookings Scholar

Henry, James S., "The Blood Bankers: Tales from the Global Underground Economy."

Rs. 25 Lac-crores kitna hota hai? (NANO)

1 Nano costs Rs. 1 lacs ($2,000)With Rs. 25 Lac-crores, 25 crores Indians can be gifted one Nano car each.





Black Money issue


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Role of Switzerland Swiss ambassador, Switzerland was accused of giving shelter to black

money and there has been a lot of inflow of such wealth from India.[NDTV Profit 15-03-2008]

Switzerland has 1/3rd global private funds.

Switzerland must follow Germanys model which is willing to give the detailsof all Indian names in the LGT Bank secret records.

Switzerland is not cooperating fully. It is reluctant to give full access to itsbanking records.

Rs. 25 Lac-crores kitna hota hai? (FIGHTER PLANE)

1 Sukhoi-30 fighter plane costs $37million (Rs 185 crores)With Rs. 25 Lac-crores, India can have more than 13,000 such Sukhoi fighters





Black Money issue


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G20 stance At the London G20 summit on 2 April 2009, G20 countries agreed to define a

blacklist for tax havens.

Germany & France have threatened tax-havens like Switzerland

with BLACKLISTING them, if they dont co-operate.

Switzerland is under serious pressure to risk black listing or cooperating.

At first UK did not support this, but public criticism forced UK PM Gordon Brown tochange tracks & issue a statement, This is the start of the end. The era ofbanking secrecy is over.

Unfortunately, India has kept quiet.

Rs. 25 Lac-crores kitna hota hai? (DEFENSE BUDGET)

Indian annual defense budget is about Rs 90,000 crores ($20 billion)

With Rs. 25 Lac-crores can finance Indias defense budget for 27 years.





Black Money issue


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Pressure to blacklist Switzerland

The US IRS (Internal Revenue Service) finesSwitzerlands biggest bank UBS to give

records of 300 top tax evaders.

UBS had to pay a fine of $800 million (Rs 4,000 crores).

US has asked for 52,000 more such account details.

Germany & France threaten to blacklist Switzerland.India must act similarly.

Rs. 25 Lac-crores kitna hota hai? (HOSPITALS)

1 state-of-art 100-bed hospital costs about Rs. 30 crores ($6million)

With Rs. 25 Lac-crores, India can build a world class hospital in every of its 1 Lac villages (100,000 villages).





Black Money issue


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Swiss laws protect the guilty

Switzerland is reluctant to amend its laws.

The Swiss Federal Act on international mutual assistance in criminalmatters (1983) and other Swiss laws permit access to bank records onlyif proved that the money stored is used for criminal activities.

Richard Murphy, famous British anti-tax haven consultant, The

information exchange agreements dont really make it practical to getinformation unless you know the name and a/c number of the person

India must join other countries and build pressure on Switzerland.

Rs. 25 Lac-crores kitna hota hai? (KALPASAR YOJANA)

Kalpasar Yojana (tidal energy harnessing project) would cost Rs. 55,000 crores ($11 billion)

With Rs. 25 Lac-crores, India can make 45 such Kalpasar Yojanas!





Black Money issue


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Congress inaction or opposition? Congress is already rattled by the huge public response to the BJPs

initiative.

Jairam Ramesh, (BJPs) entire edifice of numbers on the black money issue

is a total hoax. Congress party must stop attempts to trivialize the issue.

Has done little against, if not encourage, such illegal transfers case inpoint is the unfreezing of accounts of the prime accused in the BoforsScandal, Ottavio Quattrocchi, the Italian middle-man and a family friend ofSonia Gandhi

Though the Center (UPA) was in possession of the sensitive information(names of 50 wealthy Indians with money stashed away in the tax-havenLiechtenstein), it was unwilling to come out in the open despite beingpushed to the wall by the BJP" - Mail Todayon 26thApril 2009

Rs. 25 Lac-crores kitna hota hai? (FOOD)

1 kg ofrice costs Rs. 20 ($0.4)

Rs. 25 Lac-crores can give 110 crores Indians 6 kg rice every month for 17 years. (No one will sleep hungry)





Black Money issue


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BJPs promise World respects a powerful domestic opinion on global issues, BJP will build

national consensus on the issue through massive opinion building exerciseas was done by Narendra Modi in Gujarat.

BJP will work with other countries, such as the US, UK, Germany andFrance to build international consensus and pressurize tax-havens todisclose account details of illegal Indian money.

BJP has already created a task-force to make this happen and a detailedplan has already been outlined.

The money will be redeployed for the progress of the country as detailed invarious BJP Vision documents.

Rs. 25 Lac-crores kitna hota hai? (EDUCATION)

A world-class institute, like an IIT, costs 760 crores to setup

With Rs. 25 Lac-crores, India can build 3,300 new such IIT-like educational institutes





Black Money issue


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The great Indian silence Germany & France threaten blacklisting of Switzerland. India keeps quiet.

Germany and France take the issue of secret banks and tax havens in the

G20 preparatory meeting at Berlin In February 2009. India keeps quiet.

These two nations and supported by UK and the US raise the voice againstsecret banks and tax havens in London in April 2009, India keeps quiet.

German govt. offers to open secret names of the account holders in LGT

Bank of Liechtenstein. India keeps quiet.

Why India has not effectively worked to get the names of several Indiansbelieved to be in the secret records?

Rs. 25 Lac-crores kitna hota hai? (CANCER TREATMENT)

It costs a middle-class Indian family 12 years income to provide cancer treatment for 1 patient

Rs. 25 Lac-crores can provide free top quality cancer treatment to more than 2 crores Indians.





Black Money issue


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India must act

Develop national will & agenda against black money in foreign banks. Get immigration details of the 25,000 frequent travellers to tax havens. Upgrade Financial Action Task Force (FATF) membership to full. Make specific anti-tax haven laws. Publicize entire economic history of overseas account holders. Demand LGT Bank of Liechtenstein's secret records Ensure India friendly global anti-secret banking rules

Appoint a special emissary to Germany & Switzerland. Develop a proper Institutional infrastructure to fight the flight-of-capital.

Rs. 25 Lac-crores kitna hota hai? (RIVER INTERLINKING PROJECT)

Inter-linking of all Indian rivers would cost Rs 5.6 Lac-crores, but it would provide water everywhere.

Rs. 25 Lac-crores can provide finance more than 4 times





Black Money issue


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Some tax havens that benefit from Indian money 1/3


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Flight of Capital

The flight-of-capital is a conspiracy of thewestern world against the developing world, that

has permitted the movement of much neededscarce capital from the developing world into thedeveloped world.





Black Money issue

Rs. 25 Lac-crores kitna hota hai? (VIDARBHA FARMER SUICIDES)

Average farmer suicide loans in Vidarbha Rs 10,000 ($200)With Rs. 25 Lac-crores no farmer in India will ever commit suicide for loan repayment And thats a promise!


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Thank you for your timeBharat Mata ki jai

(*Due to the prevalent secrecy in protecting dirty money by the tax havens, and absence of adequate laws to ensure 100% disclosures. Allfigures are believed estimates. As someone has said there is a need to focus on the fact-of-the-loot, rather than on the math-of-the-loot)

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