Thursday, 20 January 2011

Black Money Series

Black Money is again back in the news thanks to Mr.Wikileaks. Outsiders are helping us to know about the account holders of Swizz bank. Prime Minister can not share the details of havla traders due to International Treaties. Supreme Court is giving harsh decision on government policies. Let’s see what will happen ? India will get all the black money back into economy or not ?

Black Money - I

I am not talking about the money which looks black. In our Indian economy the money which is flowing unaccounted is called Black Money.

It is said that black money in India accounts for 20 % of GDP. If this is true, then black money generated every year must be around Rs 400,000 crore or $ 80 billion. This is a huge amount, more than the entire budget of the government at the Centre. We have a government that spends about Rs 350,000 crore a year, most of it on itself, and asks for accounts of every paisa. On the other side, we have black money worth Rs 400,000 crore every year, which is just guesswork, and there are no accounts. This money goes into property, which is why real estate prices are so high, and of course five-star hotels. If the government could have all this money, or even a small fraction, there would be no need for revenue or fiscal deficits, and no need for huge borrowings to make two ends meet.

How big is $ 100 billion? It is bigger than you think. It is worth Rs 500,000 crore, which makes it bigger than the central budget. It is more than twice our annual exports. It is equivalent to 30 times what Enron is supposed to have invested on its Dabhol project. It is more than what the US government is expected to pay those who have suffered from the September 11th smash. And, if you must know, it is a fifth of our annual GDP, which is itself a big figure.

Why our Indian government does not has any control on Black Money. All of our powerful Netas have share in black money so they don’t want to regularize things for the accounting of Black Money. Our Netas declare their assets at the time of election and EC also put guidelines for the expenses and other details for the promotion. Black money is involved in every promotion of election with great extent.

Neta conduct rally at the time of election to get the people they pay Rs 250-1000. Let me tell you in few lacs there won’t be hording on every corner of Road. In Election campaign you will get wine free for days when your Neta is doing promotion. You’ll get free lunch & dinner. There is no Tds on payment and no revenue receipt for payment more than Rs500 in cash.

We all know the issue and problem but can not do anything and our Netas don’t want to do anything. Everyone say that A Rupee left from Delhi reach to the people as 15paisa but When A Rupee left from Delhi will reach as Rupee to people. Indian people send money to Swizz account through Havala. Swizz bank give that money to World Bank. We borrow loan from world bank & pay interest on that money. Which is nothing but our own money.

We know all the problems and reasons but don’t know when it’ll get solve as our Netas don’t want to solve and from just writing I can not solve.

Black Money – II

As our News channels are busy for scam of 2G , we need to put point on black money. We all know all the powerful people from politics and Industries has revenue more than they show in their accounts. It’s very sorry state of affair that many MP and MLA declaring assets in crores don’t have PAN number. So whatever earning they are generating the major part comes from the corrupt system of economy.

Yesterday I saw a movie in which make online transfer of money from unknown swizz account to Indian RBI account. Do we need such kind of trick to get our money back in economy so we can land money to west. Let west to know it’s all our money which you are enjoying from last fifty years.

Many NGO’s registered in country do the Havala trade on big volume. They will convert your White money into black money with 3-7% commission. You can claim for exemption under section 80G for donation and same time you’ll get your money back with 3-7% deduction so you can pay the money as to bribe or spend.

It’s not only our Neta’s are corrupt. We all the people of India also corrupt as we learn the corruption from our birth. We start paying bribe on every work. If you have baby born on your house than taking rounds of Municipal office for birth certificate just pay Rs.100 to Babug. He’ll give you certificate in hand. Most of the Auto and Taxi drivers have got the license on fake document and paying bribe. If you need appointment in any of state grant school then pay few lacs to get your place. I know many people who’ll happily pay few lacs for job in any of government sector.

When we want to do our own work we are ready to bribe which generates black money but when some one else is paying so we don’t pay bribe as it leads to black money in economy. when every Indian is ready to accept and pay money so why to blame our Netas. Netas are representative of people so have they can ask for more money than people.

All the black money get generates from our system through corruption and safe heaven to convert that money or to keep it away from our government which is formed by people who has there own share in every pie is to invest the money in Real state with Benami property or go to swizz bank.

If we need our money back from swizz accounts than people of India have to take stand as our Netas are simply not interested. Indian people have to report for every corruption and don’t pay bribe or accept in any condition. All the big scams need the support from bottom line class so don’t help any of big shark to take your money out by paying you few thousand.

If we people of India won’t support than no scam is possible.

Black Money - III

We all know the source & consumption of Black Money but then also we failed to do anything as our government is simply not interested to control the source & consumption of Black Money.

All the political party use the Black Money at the time of election campaign. If there won't be Black Money then there will be no follower to so Jay-Jay-Jay-Jay.

It's not only our Neta who source the Black Money. Real state is one of the biggest place for consumption of Black Money. Few year back there was case when a Judge failed to get flat of his choice as he was not having the Black Money to pay. Real State work on 80:20ratio for sale and purchase of properties. Black and White money ratio works in all the segment of sale & purchase.

We the people are also responsible for the source and consumption of Black Money in our country. Why always blame our Neta who are diverting our money to Swizz bank. We are also helping them for their work so we are also guilty. At the time of purchasing of properties you only think about your need at that time you don't think about country & economy. Later on you will shout that our all the money going to Europe.

You have to decide that from next time when it comes to pay Black Money for any of your important work that time you have to think about our Country & Economy.

You can not blame always others for problem of our Country & Economy. It's nature of human being at the time of success they don't want to share credit but in failure blame others.

Do your best so there won't be source & consumption of Black Money by you. When you'll start protest the entire country will start protest.

Bund Bund Se Sagar Bhartaa Hai !


Kamal Upadhyay

Your view can change life so have a view.

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