India Tops list on stolen wealth in Swiss Accounts
Swiss Banking Association report, details bank deposits in the territory of Switzerland by nationals of following countries:
India—- $1,456 billion (Public loot since 1947)
Russia —$ 470 billion
UK ——-$390 billion
Ukraine – $100 billion
China —–$ 96 billion
According to Global Financial Integrity Indian politicians, IAS, IRS, IPS and people from entertainment and sports industry have deposited $ 325 billion in last five years in Swiss accounts (say Jay Hind).
This may be the picture of deposits in Swiss banks only. What about other international destinations? There are presumably more than 70 Tax havens in the world. Indian wealth could be more in Switzerland and various British /US islands. At least forty countries market themselves aggressively as tax havens.
After Bharat mahan the second best Russia has 4 times lesser deposit in Swiss accounts. US is not even there in the counting in top five !! India has more money in swiss banks than all the other countries combined.
Interestingly Swiss government agreed to disclose the names of the account holders only if the respective governments formally asked for it but Indian govt. is not asking for the details. Annually more than 100,000 Indians travel to Switzerland, of whom 35,000 travel very frequently.
A few corrupt Indians have 1.5 trillion dollars of black money on other hand daily 3000-4000 children die from malnutrition in India and 1000 pregnant women die every day in India (say Jay Hind). More than 70% of population is anemic (In simple maths after 50 years there will be no Indian in India.) India got the gold medal in black money but they are competing with Angola and Congo in GHI (global hunger Index).
Chennai, The Switzerland government has not received any request from the Indian government for sharing the names of tax evaders who have stashed away their illicit money in Swiss banks, the Swiss Ambassador to India Philippe Weiti said Wednesday.
‘It is for India to decide which cases they want to file requests for under the revised treaty,’ said Weiti, who was here to participate in a investment promotion event organised by the Confederation of Indian Industry (CII).
India and Switzerland signed in August this year the amended Double Taxation Avoidance Treaty, which will help the government seek details about the ill-gotten money allegedly stashed away by Indians in Swiss banks.
‘Our government has to ratify the amended treaty. It is just a formality. The Indian government has informed us that the treaty has been ratified by it,’ Weiti told reporters.
A large number of Indians are alleged to have assets worth billions of dollars in banks in Switzerland. And the issue of Indians having secret Swiss bank accounts was a poll plank during last year’s general elections.
Is India poor, who says? Ask Swiss banks :
With personal account deposit bank of $1500 billion in foreign reserve which have been
misappropriated, an amount 13 times larger than the country’s foreign debt, one needs to rethink if India is a poor country?.
DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS,IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $ 1500 billion, which have been misappropriated by them.
This amount is about 13 times larger than the country’s foreign debt. With this amount 45 crore poor people can get Rs 1,00,000 each. This huge amount has been appropriated from the people of India by exploiting and betraying them.
Once this huge amount of black money and property comes back to India , the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested
in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably.
Some 80,000 people travel to Switzerland every year, of whom 25,000 travel very frequently.
“Obviously, these people won’t be tourists. They must be traveling there for some other reason,” believes an official involved in tracking illegal money. And, clearly, he isn’t referring to the commerce ministry bureaucrats who’ve been flitting in and out of Geneva ever since the World Trade Organisation (WTO) negotiations went into a tailspin!
Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country’s wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks?
Now do the maths - India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947:
Can we bring back our money? 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 been 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 stripped 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.
In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe.
The findings estimated that a large proportion of this wealth was managed from some 70 tax havens. Further, augmenting these studies of TJN, Raymond Baker — in his widely
celebrated book titled ‘Capitalism’ s Achilles Heel: Dirty Money and How to Renew the Free Market System’ — estimates that at least $5 trillion have been shifted out of poorer countries to the West since the mid-1970.
It is further estimated by experts that one per cent of the world’s population holds more than 57 per cent of total global wealth, routing it invariably through these tax havens. How much of this is from India is anybody’s guess.
What is to be noted here is that most of the wealth of Indians parked in these tax havens is illegitimate money acquired through corrupt means.
Naturally, the secrecy associated with the bank accounts in such places is central to the issue, not their low tax rates as the term ‘tax havens’ suggests. Remember Bofors and how India could not trace the ultimate beneficiary of those transactions because of the secrecy
associated with these bank accounts?
Re: India Tops list on stolen wealth in Swiss Accounts
Badal jad pelli baar CM banya c ta sarre bhrava kolo 5 buses c. Aj 700 to utte di fleet aa. Kittho aai?? Badal de bacche v bahar parre likhe, enne kharche to baad 5 di 10 ni hundi, 700 kidda hogi???
Kehnde Nehru de peyo Moti Lal kol raje/maharaje jinna paisa c. Ek brahman kol enna paisa kittho aa gaya??? Purane jamane ch riyasta, jagira maharaje te jagirdara kol hundiya c fer ik bahmaan kidda amir ban gaya?? Ki ohne kisse gorre naal saanjh paake desh nu lutya c, yaa fer kisse mandir da khajana apne ghar bharya c????
Sawal bohat aa jawab koi ni, jaade boluga te lokaa ne kehna ke tainu ta India di burai da mauka chaida
Ik chup te sau sukh.