India corruption is 3 times greater than the GDP over 62 yrs

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Old 26-Jul-2011
Arrow India corruption is 3 times greater than the GDP over 62 yrs

Rs. 9.12 quintillion face value... most of them should be corrected to reflect the cost in today's terms. That could be even in multiples of this. Lets calculate this Rs 9.1 * 1015 Lets see the GDP of India. Today it is $1.43 trillion which is ~ Rs 50 * 1012. The period in question is since 1948. So even considering that today's GDP was there in 1948, the total GDP is ~3100 * 10 ^12.

Swiss Bank: A safe heaven for any money

India is poor ? nope...
It is one of the biggest loots witnessed by mankind -- the loot of the aam aadmi (common man) since 1947 by his brethren occupying public office.

It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear.

What is even more depressing in that this ill-gotten wealth of ours has b...een stashed away abroad into secret bank accounts located in some of the world's best known tax havens. And to that extent the Indian economy has been striped of its wealth.

Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of 'Swiss bank accounts,' the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones.

In fact, some finance experts and economists believe tax havens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century, the western world explicitly encourages the movement of scarce capital from the developing countries to the rich.

Indian GDP croseed 1 trillion usd for first time ever in 2007 and the amount of black money held in swiss accounts amounts more than indian GDP.
Deposits in Banks located in the territory of Switzerland by nationals of following countries

Top 5

India---- $1456 billion
Russia----- $470 billion
UK-------- $390 billion
Ukraine $100 billion
China------ $96 billion

Now do the math India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world COMBINED.

Old 26-Jul-2011
Re: India corruption is 3 times greater than the GDP over 62

Indian National Congress 63 Yrs of Independence


Insurance Scam
Telecom scam
HDW Submarine
...Bitumen scam
Tansi land deal
Securities Scam
JMM Bribery Scandal
St Kitts case
Urea scam
CRB Scam
Anantnag transport scam
1971 Nagarwala scandal
Fooder scam
Churhat lottery scam
Bofors Scandal (1990)
Animal Husbandry Case (1990)
Bombay Stock Exchange Fraud
Hawala scandal (1993)
Bangalore-Mysore Corridor (1995)
Sukh Ram (1996)
Fodder Scam in Bihar (1996)
Kerala SNC Lavalin power scandal(97)
Home Trade
Ketan Parekh Scandal,
Barak Missile Deal Scandal,
Tehelka Scandal (2001)
UTI Scam
Taj corridor case (2002–2003)
Telgi scandal (2003)
DSQ Software
IPO Scam- karvy
Oil-for-food programme scam (Natwar) (05)
Human Trafficking Scam (Babubhai Katara)
Cash-for-votes scandal
Satyam scandal
2G Spectrum----> India has lost just Rs.1,760,000,000,000....Read that number correctly..got it ! ..... ok its 1.76-lakh crore
Madhu Koda, laundering money Rs. 4000 Cr
CWG(common wealth) - The total value of the scam is estimated till now to be 70,000 crore
Adarsh building scam,mumbai

now--- east region side scams

Hydro Power Projects Rs.4,00,000 Crore
Hydro Kickback Rs.20,000 Crore
Assam Scam Rs.20,000 Crore
Manipur Scam Rs.5,000 Crore
...Arunachal Scam Rs.10,000 Crore
Sikkim Scam Rs.3,000 Crore
Nagaland, Mizoram Scam Rs.5,000 Core

Major Scams of North East
N C Hills Scam : Assam
Subsidy (Transport) Scam : Assam
Irrigation Scam :Assam
Guwahati Municipal Corporation Scam : Assam
Guwahati Urban Development (JNURM) Scam : Assam
Police Constable Recruitment Scam: Assam
Teachers Appointments Scam: Assam
National Highway Scam: Assam
PDS Scam of Rs 1000 crore: Assam
Flood Control Scam: Assam
Fake/Fraudulent payments scam, Assam
SGRY funds scam, Assam
NREGA funds misappropriation scam, Assam
Rural development fund embezzlement, Assam
Hydro Power Scam :Arunachal
SGRY Scam : Arunachal
PDS Scam of Rs 1000 Cr: Arunachal
Mines & Mineral Allotment Scam : Arunachal
Drinking Water Mission Scam: Arunachal
Hydro Power projects scam, Arunachal
PDS Scam, Arunachal
Public Private Partnership scam, Arunachal
NREGA scam, Arunachal
Siphoning of Entertainment Tax, Sikkim
Scam of Nayuma Cable (NC), Sikkim
Fraudulent fire to declare burning of 25,000 shows meant for poor children, Sikkim
Smuggling of red sandalwood to China, Sikkim
Sikkim Power Development Corporation scam, Sikkim
Ranka Tourist Villa Scam , Sikkim
Sikkim Khadi Board Fraud, Sikkim
Kanchandzonga Tourist Villa Scam, Sikkim
TB Medicine Scam, Sikkim
Fake / Stolen Bank deposits Scam, Sikkim
Rs.150Cr Fraudulent Bank deposit scam, Sikkim
Hydel power scam, Sikkim
Pradhan Mantri Gram Sadak Yojana Scam, Sikkim
SGRY Scam, Sikkim
NREGA scam, Sikkim
Midday meal scam, Sikkim
PDS scam, Sikkim
Rajiv Gandhi Vidyutikaran Scam, Sikkim
Loktak Lake Cleaning Scam: Manipur
Teachers Appointment Scam: Manipur
Road Construction Scam: Manipur
Big Dam / Irrigation Scam: Mizoram
Cement Land Scam: Meghalaya
North-East Subsidy Scam
AIBP scam, Nagaland
Rural Infrastructure Development Fund scam, Nagaland
NREGA scam,

Top Ten scams of India under this UPA rule:

1) 2G SPECTRUM SCAM: We have had a number of scams in India; but none bigger than the scam involving the process of allocating unified access service licenses. At the heart of this Rs.1.76-lakh crore worth of scam is the former Telecom Minister A Raja – who according to the CAG, has evaded norms at every level as he carried out the dubious 2G license awards in 2008 at a throw-away price which were pegged at 2001 prices.

2) Commonwealth Games Scam: Another feather in the cap of Indian scandal list is Commonwealth Games loot. Yes, literally a loot! Even before the long awaited sporting bonanza could see the day of light, the grand event was soaked in the allegations of corruption. It is estimated that out of Rs. 70000 crore spent on the Games, only half the said amount was spent on Indian sportspersons. The Central Vigilance Commission, involved in probing the alleged corruption in various Commonwealth Games-related projects, has found discrepancies in tenders – like payment to non-existent parties, will-ful delays in execution of contracts, over-inflated price and bungling in purchase of equipment through tendering – and misappropriation of funds.

3) TELGI SCAM: As they say, every scam must have something unique in it to make money out of it in an unscrupulous manner- and Telgi scam had all the suspense and drama that the scandal needed to thrive and be busted. Abdul Karim Telgi had mastered the art of forgery in printing duplicate stamp papers and sold them to banks and other institutions. The tentacles of the fake stamp and stamp paper case had penetrated 12 states and was estimated at a whooping Rs. 20000 crore plus. The Telgi clearly had a lot of support from government departments that were responsible for the production and sale of high security stamps.

4) SATYAM SCAM: The scam at Satyam Computer Services is something that will shatter the peace and tranquillity of Indian investors and shareholder community beyond repair. Satyam is the biggest fraud in the corporate history to the tune of Rs. 14000 crore.
The company’s disgraced former chairman Ramalinga Raju kept everyone in the dark for a decade by fudging the books of accounts for several years and inflating revenues and profit figures of Satyam. Finally, the company was taken over by the Tech Mahindra which has done wonderfully well to revive the brand Satyam.

5) BOFORS SCAM: The Bofors scandal is known as the hallmark of Indian corruption. The Bofors scam was a major corruption scandal in India in the 1980s; when the then PM Rajiv Gandhi and several others including a powerful NRI family named the Hindujas, were accused of receiving kickbacks from Bofors AB for winning a bid to supply India’s 155 mm field howitzer. The Swedish State Radio had broadcast a startling report about an undercover operation carried out by Bofors, Sweden’s biggest arms manufacturer, whereby $16 million were allegedly paid to members of PM Rajiv Gandhi’s Congress. Most of all, the Bofors scam had a strong emotional appeal because it was a scam related to the defense services and India’s security interests.

6) THE FODDER SCAM: If you haven’t heard of Bihar’s fodder scam of 1996, you might still be able to recognize it by the name of “Chara Ghotala ,” as it is popularly known in the vernacular language. In this corruption scandal worth Rs.900 crore, an unholy nexus was traced involved in fabrication of “vast herds of fictitious livestock” for which fodder, medicine and animal husbandry equipment was supposedly procured.

7) THE HAWALA SCANDAL: The Hawala case to the tune of $18 million bribery scandal, which came in the open in 1996, involved payments allegedly received by country’s leading politicians through hawala brokers. From the list of those accused also included Lal Krishna Advani who was then the Leader of Opposition. Thus, for the first time in Indian politics, it gave a feeling of open loot all around the public, involving all the major political players being accused of having accepted bribes and also alleged connections about payments being channelled to Hizbul Mujahideen militants in Kashmir.

8) IPL SCAM: Well, I am running out of time and space over here. The list of scandals in India is just not ending and becoming grave by every decade. Most of us are aware about the recent scam in IPL and embezzlement with respect to bidding for various franchisees. The scandal already claimed the portfolios of two big-wigs in the form of Shashi Tharoor and former IPL Chief Lalit Modi.

9 and 10) HARSHAD MEHTA & KETAN PAREKH STOCK MARKET SCAM: Although not corruption scams, these have affected many people. There is no way that the investor community could forget the unfortunate Rs. 4000 crore Harshad Mehta scam and over Rs. 1000 crore Ketan Parekh scam which eroded the shareholders wealth in form of big market jolt.

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