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Bringing India’s money back to Indian shores

Stupefied by the string of endorsements across the country of the demand that the money looted from India must be brought back, the Congress has tied itself in knots. Its spokesmen — led, as will be clear from the arguments they have advanced, by four lawyers — have given five reactions: • ....Read more

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Arun Shoire and Swiss Bank Black MoneyBy: SVS Subrahmaniam | Monday , 15 Jun '09 17:55:53 PM Reply | Forward It is not a new talk to our society. It is being talked for decades together. It commonly said that politician had or has or are amassing lot of wealth and keeping in Swiss banks with out any concrete proof. Will it not apply to their NDA politicians also? Are they so “pavitra”? By saying so I am neither denying the remark nor supporting keeping money in Swiss banks. Who does not want the money to be back in India and be used for development of the state? Arun Shorie who was a responsible minister in the erstwhile NDA government, why he did not at least initiated the action. It looks so funny to me like our AP leaders and MLAs virtually fought on the floor of previous assembly and passed a unanimous resolution in the assembly to ask AP High Court to appoint a sitting judge to investigate in to the bribe scandals and money swindling. But next day the speaker of the assembly has ruled out the resolution on the pretest of crossing the limits of legislature and judiciary.

Its importantBy: pankaj kumar | Friday , 24 Apr '09 8:36:36 AM Reply | Forward The matter is so big that no one should be allowed to play politics in it. Congress says that BJP didn't do this in its last govt. It is shameful on their part for not giving this matter its importance. Lets hope that BJP and its allies form the next government so that step may be taken in this regard. Congress will never do this.

Major GeneralBy: Sudhir Jatar | Wednesday , 22 Apr '09 19:24:55 PM Reply | Forward It is one thing for Advani and Shourie to proclaim from housetops that they would bring the money back. However, Shourie has not answered one question raised by the Congress as to what the NDA was doing when in power.One can draw an analogy. It is well known that Vajpayee had issued instructions that Bofors should not be pursued. This was quid pro quo vis-a-vis Vajpayee's 'adopted' son-in-law. That is the reason why Quatrochi got away. There is no use blaming the UPA for it because that is what NDA wanted.In my view, all this is empty talk. There is no political will to get back the loot.

good intitiativeBy: Indian | Wednesday , 22 Apr '09 15:18:39 PM Reply | Forward As always a fantastic article and fact based research of the points around black money by Arun Shourie. His points are very specific, data driven and to the point. Can't disagree on anything.Also, a good and bold initiative by BJP and wish them success on first winning the election and hopefully getting atleast some money back.

What about huge black money generated in India and remaining in India?By: Jay | Wednesday , 22 Apr '09 5:31:24 AM Reply | Forward A parallel black-money economy is running in India which worths more than half of Indian national GDP (as per Financial Express reports). There are many big industrial houses that takes nationalized banks for granted and never pay their huge debts. Many such industrial houses are big donors of almost all political parties, including BJP (as many observers allege). Does BJP has any plan (if elected to power) to fix such major players operating in that field of cheating the people and the country? For such money, you do not have to take help of any foreign government and should be much easier than repatriating illegal swiss banks money to India, although I whole heartedly support any honest effort to bring back that that money from Switzerland-Lichtenstein banks . I am a bit worried considering that CBI and our political leadership wasted more money in Bofors scam investigation than the scam itself!

Amazing reply!!By: Sanket | Tuesday , 21 Apr '09 19:40:17 PM Reply | Forward Nice point-to-point reply by Arun Shourie :)I would like to see a detailed clarification by Congress (which I know won't happen :()

will BJP do it!!!By: Rajeev | Tuesday , 21 Apr '09 13:41:58 PM Reply | Forward I hope if BJP returns to power doesn't actually forgets this issue and do something about it. Imagine what this country can achieve with additional 1.5 Trillion USD which being stacked away in those Tax heavens. The money logically should to whom it belongs to, the wider marginalized "aam aadmi" of India.Do we really think Congress will do anything to help the cause. I guess, we all know the answers.

The other bigger lootBy: Janak | Tuesday , 21 Apr '09 13:08:29 PM Reply | Forward It is all very well to go after the money stashed away inforeign tax havens but what about the black money in India? In my opinion that too is the money looted from public in the form of unpaid taxes. The biggest culprits are the politicians, bureaucrats/public servants (esp in Income Tax, Customs and Police), big businessmen.Why not form an expert committee to form a strategy and go after this black money. Everyone knows how this money is being generated.Why not reform tax laws, take away discretion, bring in more transparency (e.g. publication of IT returns of all politicians and public servants), question the politicians declaring huge assets about the sources of funds, renegotiate shady tax treaties such as with Mauritius?It is hypocritical to blame foreign tax havens when our hand are dirty. Lets clean up our system and then go after foreign tax havens.And has Mr Advani forgotten the Hawala Scandal? Didn't his name along with politicians from all parties figure in Jain diaries?

lootBy: Indian | Wednesday , 22 Apr '09 15:15:59 PM Reply | Forward Janak,Instead of appreciating the fact that a political party is taking this initiative, you seem to criticising it. We cannot criticise somebody for both "first doing something" and then "for not doing something". Second, nobody is blaming the tax havens. They are only talking about getting it back. Third, advani's name was cleared from hawala. Infact he resigned immediately when his name surfaced and woved to come to govt. only and only if his name was cleared, which it indeed was. Finally, this initiative is very bold because obviously politicians will be caught and some maybe from BJP, so is it not all more praiseworthy. You are right about the domestic issues, but that is no reason why we should not go after money stashed away.

but we love congress...By: Hemant Karandikar | Tuesday , 21 Apr '09 11:35:27 AM Reply | Forward oh how we love congress! We the intellectuals just can not allow anybody other than Gandhis' congress the claim to rule the country..the only party that is squeaky clean..the main stream media simply reflect this unshakable fact...

BRINGING INDIA'S BLACK MONEY....By: SUSANTA CHAKRABORTY | Tuesday , 21 Apr '09 10:06:55 AM Reply | Forward WITH ELECTRONIC AND PRINT MEDIA SIDING WITH RULING PARTY ITS INDEED DIFFICULT TO BRING TO NOTICE THE PAPER PRODUCED BY YOUR PARTY. THE CONGRESS IS EXPERT IN FUDGING THE MAIN ISSUES WITH NON-ISSUES LIKE KHANDHAR.ETC. EVEN THE SO CALLED INTELLIGENT PM ALSO INDULGES IN DOUBLE SPEAK. LIKE: DURING 26/11 THE PM SAYS WE TOOK IMMEDIATE ACTION AND KILLED AND CAPTURED THE TERRORISTS. PROBABLY HE FORGETS THAT 300 PEOPLE WERE ALSO KILLED. THE DISCOURSE DURING THE ELECTION IF WE GO BY THE ELECTRONIC MEDIA WE SHALL SEE THAT NON-ISSUES ARE DOMINATING. I REQUEST YOU TO REALLY TAKE ISSUES TO PEOPLE DURING ELECTION RALLY'S ETC. LET THE PEOPLE KNOW WHAT OUR SO SIMPLE AND MILD PM IS UP TO.

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