Indian Black money stacked in foreign banks is a serious issue of concern and much of it can be brought back. But unfortunately there doesn’t seem to be a political will to do so. If we go by the startling disclosures by Swiss Bank Association Report, 2006, nearly $1.45 trillion is stashed away in Swiss banks alone, which is equivalent to nearly Rs.65.52 lakh crore, almost thrice the size of Indian economy. What is more disquieting is that Indian black money constitutes 67 percent of the total black money deposits in the Bank. Recently there was an email message being circulated on the internet which said if ‘Black Money Deposits’ were an Olympian event, Indians would have surely won gold medal followed by the Russians at $ 470 billion, Britons at $ 390 billion, Ukrainians at $ 100 billion and Chinese at $ 96 billion. The amount is reportedly parked by the rich and powerful Indian nationals illegally in Swiss banks is more than ten times the foreign debt of our country. These r...
SaafNations is a global alliance of citizens and groups/forums