Sunday 10 April 2011

INDIAN BLACK MONEY IN FOREIGN BANKS: Looting of Indians by Indians



Posted by Dr.K.R Vijayakumar 
Over the last 64 years after independence Indians have looted more than 10 trillion US dollars from India and deposited in foreign banks. The looted wealth is equivalent to 450lakh crore Indian rupees. This enormous money was in fact looted from India by criminal acts of tax evasion and other illegal means. The looting of India’s wealth was carried out and is being carried out by the joint action of Business houses, politicians of major parties and bureaucrats in India. It is alleged that even the judiciary had a role in facilitating this robbery of Indian people.
Among all the countries Indians have the maximum share of illegal wealth in foreign banks. International Monetary Fund (IMF) estimates 18 trillion US$ as illegal deposits in Swiss banks and other banks of similar nature. They admit that this migt be an under estimate. Of this atleast 10 trillion US$ is that of Indians. Indians hve more black money in forign banks than people from other countries combined together. This is in addition to the enormous black mone stored in India itself.
In fact every Indian has a right to bring back the money in foreign banks to India and to own his share.
The enormity of the money is beyond the limit of perception of ordinary people .
For making 20 Crore (200 million) houses costing Rupees 5 lakhs(11000 US$ ) each, the amount required would be only 22% of the loot. We can house the poor 80 crore (800 million) Indians(Assuming 20 crore (200 million) families of 4 members each). This can solve the entire housing problem of 80 crore the Indians whose daily income is less than 20 rupees (0.44 US$).
Similarly utilizing the remaining money we can provide all the poor Indians the basic requirements of all Indians such as food, clothing, medical care, transport, education, electricity etc. to all Indians.
To make things more clear the loot once brought and distributed to the poor Indians who number 80 crore each person will get rupees 5 lakhs from the loot.
Family of 4 person will get rupees 20lakhs.
Total amount distributed will be 9 trillion USD out of the 10 trillion US$ illegally deposited in foreign banks
If each family spends 5 lakh rupees for housing, 20 crore houses can be built. If the remaining money is deposited in the Indian banks each family can draw every month 10,000 rupees as interest.
Due to international pressure Switzerland and Germany  have agreed to furnish the names and the other details of depositors to the countries of origin provided these countries request for such details .
On getting such details if criminal cases are registered against these account holders the illegal money will be handed over to the respective country.  While many countries have taken the illegal moneys from these bank India alone is adamant in not doing so. the present UPA Govt is not at all interested in  prosecuting the tax evaders by filing criminal cases and in bringing back the money to India.
While more than 120 countries have signed a UN agreement to prevent corruption India is refusing to do so for the last 5 years. The prime minister is not answering to letters written by an MP about this shameful to sign the agreement
The wealth looted from independent India by Indians and transferred to foreign banks is probably millions of times more than the wealth allegedly taken to England by the British in 200 years form colonial India. Remember the British gave lot of infrastructure to India for transport ( roads, railways etc.) education, health care, communication etc. But the traitors who have looted the independent India have given only poverty, hunger, suffering and slow death to more than 80 crore (800 million) Indians .
Question:

Aren’t these looters of Indian wealth more criminal, traitorous and anti-national than Maoists?

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