Tiger80 Posted February 13, 2012 Posted February 13, 2012 NEW DELHI: Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI director said on Monday. India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc. "It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad. Largest depositors in Swiss Banks are also reported to be Indians," CBI director A P Singh said speaking at the inauguration of first interpol global programme on anti-corruption and asset recovery. He said getting information about such illegal transactions is a time taking process as investigators have to peel each layer by sending judicial requests to the country where such deposits have been made. "53 per cent of the countries said to be least corrupt by the Transparency International Index are offshore tax havens, where most of the corrupt money goes. The tax havens include New Zealand which is ranked as the least corrupt country, Singapore ranked number five and Switzerland number seven," Singh said. He said there is a lack of political will in the leading tax haven states to part with the information because they are aware of the extent to which their economies have become "geared to this flow of illegal capitals from the poorer countries." http://timesofindia.indiatimes.com/india/Black-money-Indians-have-stashed-over-500bn-in-banks-abroad-says-CBI/articleshow/11871624.cms
Moncy Posted February 13, 2012 Posted February 13, 2012 Those money could have been used to make India a better country and to eliminate the huge gap between the rich and the poor.
Tiger80 Posted February 13, 2012 Author Posted February 13, 2012 Those money could have been used to make India a better country and to eliminate the huge gap between the rich and the poor. Don't think any party has guts to bring back that money.Elections in India require huge amount of money and and this black money is major source of funding
surajmal Posted February 13, 2012 Posted February 13, 2012 If you want the money to come back, start by executing all the top politicians (state as well as central level).
Moncy Posted February 13, 2012 Posted February 13, 2012 If you want the money to come back' date=' start by executing all the top politicians (state as well as central level).[/quote'] Or just sentence them to life imprisonment. They deserve to suffer for a long time.
Tiger80 Posted February 13, 2012 Author Posted February 13, 2012 If you want the money to come back' date=' start by executing all the top politicians (state as well as central level).[/quote'] Don't know how this will help.It is people who make politicians so large ,no matter how much we curse them but truth is almost all big politicians have mass support.It is much better if people stop voting for corrupt politicians
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