Title: Who has, how much of Indias money Avg. size of 34 tax haven countries 17 kilometers length 312 sq. k
1Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
Overseas Black money the curse that stops India
from developing
The painting is 4feet by 4feet acrylic on canvas
titled Aspirations of a rising people made by
Vishal V. Sharma in 2007
Rs. 25 Lac-crores kitna hota hai? (ROAD) Pradhan
Mantri Gram Sadak Yojana (PMGSY) makes 1 km
concrete road for avg. cost of Rs. 20 lacs (4
million) With Rs. 25 Lac-crores, India can build
1.25 cr kms of road (33 times the distance
between Earth Moon)
2What are Tax Havens?
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- Small countries like Switzerland, Angola,
Bermuda, etc that act as places of registration
for overseas non-resident companies. - They have zero or very low income tax.
- They ask no questions on the origins of the money
coming into their banks. - They keep all banking records secret and
cooperate very little with other countries. - They have no contribution to the world, except as
points on - the world-map where dirty money is kept safely.
- Avg. size of 34 such point-countries 17 kms by
17 kms.
Rs. 25 Lac-crores kitna hota hai? (POWER) 1 MW of
Thermal power plant costs India Rs. 4 crores
(800,000) With Rs. 25 Lac-crores, India can
build 6 lacs MWs of power, and provide 24x7
3-phase power to all villages.
3Money involved
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- Total dirty money in tax-havens 11.5 trillion
(Rs 7.5 crore-crore) - Annually 1 trillion (Rs 50 lac-crore) being
added - 50 of this money belongs to the developing
countries like India - Estimated Indian black money in foreign banks
500 billion (Rs 25 lac-crores) - 2002-2006 (5 years) 137.5 billion Indian black
money deposited (Rs 68,750 crores) - Source of info Capitalism's Achilles' Heel
Dirty Money, How to Renew the Free-Market
System. (2005) by Raymond W. Baker, MBA
(Harvard) Brookings Scholar - Henry, James S., "The Blood Bankers Tales from
the Global Underground Economy."
Rs. 25 Lac-crores kitna hota hai? (NANO) 1 Nano
costs Rs. 1 lacs (2,000) With Rs. 25 Lac-crores,
25 crores Indians can be gifted one Nano car each.
4Role of Switzerland
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- Swiss ambassador, Switzerland was accused of
giving shelter to black money and there has been
a lot of inflow of such wealth from India.
NDTV Profit 15-03-2008 - Switzerland has 1/3rd global private funds.
- Switzerland must follow Germanys model which is
willing to give the details of all Indian names
in the LGT Bank secret records. - Switzerland is not cooperating fully. It is
reluctant to give full access to its banking
records.
Rs. 25 Lac-crores kitna hota hai? (FIGHTER
PLANE) 1 Sukhoi-30 fighter plane costs 37million
(Rs 185 crores) With Rs. 25 Lac-crores, India can
have more than 13,000 such Sukhoi fighters
5G20 stance
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- At the London G20 summit on 2 April 2009, G20
countries agreed to define a blacklist for tax
havens. - Germany France have threatened tax-havens like
Switzerland - with BLACKLISTING them, if they dont
co-operate. - Switzerland is under serious pressure to risk
black listing or cooperating. - At first UK did not support this, but public
criticism forced UK PM Gordon Brown to change
tracks issue a statement, This is the start of
the end. The era of banking secrecy is over. - Unfortunately, India has kept quiet.
Rs. 25 Lac-crores kitna hota hai? (DEFENSE
BUDGET) Indian annual defense budget is about Rs
90,000 crores (20 billion) With Rs. 25
Lac-crores can finance Indias defense budget for
27 years.
6Pressure to blacklist Switzerland
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- The US IRS (Internal Revenue Service) fines
Switzerlands biggest bank UBS to give - records of 300 top tax evaders.
- UBS had to pay a fine of 800 million (Rs 4,000
crores). - US has asked for 52,000 more such account
details. Germany France threaten to blacklist
Switzerland. India must act similarly.
Rs. 25 Lac-crores kitna hota hai? (HOSPITALS) 1
state-of-art 100-bed hospital costs about Rs. 30
crores (6million) With Rs. 25 Lac-crores, India
can build a world class hospital in every of its
1 Lac villages (100,000 villages).
7Swiss laws protect the guilty
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- Switzerland is reluctant to amend its laws.
- The Swiss Federal Act on international mutual
assistance in criminal matters (1983) and other
Swiss laws permit access to bank records only if
proved that the money stored is used for criminal
activities. - Richard Murphy, famous British anti-tax haven
consultant, The information exchange agreements
dont really make it practical to get information
unless you know the name and a/c number of the
person - India must join other countries and build
pressure on Switzerland.
Rs. 25 Lac-crores kitna hota hai? (KALPASAR
YOJANA) Kalpasar Yojana (tidal energy harnessing
project) would cost Rs. 55,000 crores (11
billion) With Rs. 25 Lac-crores, India can make
45 such Kalpasar Yojanas!
8Congress inaction or opposition?
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- Congress is already rattled by the huge public
response to the BJPs initiative. - Jairam Ramesh, (BJPs) entire edifice of numbers
on the black money issue is a total hoax.
Congress party must stop attempts to trivialize
the issue. - Has done little against, if not encourage, such
illegal transfers case in point is the
unfreezing of accounts of the prime accused in
the Bofors Scandal, Ottavio Quattrocchi, the
Italian middle-man and a family friend of Sonia
Gandhi - Though the Center (UPA) was in possession of the
sensitive information (names of 50 wealthy
Indians with money stashed away in the tax-haven
Liechtenstein), it was unwilling to come out in
the open despite being pushed to the wall by the
BJP" - Mail Today on 26th April 2009
Rs. 25 Lac-crores kitna hota hai? (FOOD) 1 kg of
rice costs Rs. 20 (0.4) Rs. 25 Lac-crores can
give 110 crores Indians 6 kg rice every month for
17 years. (No one will sleep hungry)
9BJPs promise
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- World respects a powerful domestic opinion on
global issues, BJP will build national consensus
on the issue through massive opinion building
exercise as was done by Narendra Modi in Gujarat. - BJP will work with other countries, such as the
US, UK, Germany and France to build international
consensus and pressurize tax-havens to disclose
account details of illegal Indian money. - BJP has already created a task-force to make this
happen and a detailed plan has already been
outlined. - The money will be redeployed for the progress of
the country as detailed in various BJP Vision
documents.
Rs. 25 Lac-crores kitna hota hai? (EDUCATION) A
world-class institute, like an IIT, costs 760
crores to setup With Rs. 25 Lac-crores, India can
build 3,300 new such IIT-like educational
institutes
10The great Indian silence
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- Germany France threaten blacklisting of
Switzerland. India keeps quiet. - Germany and France take the issue of secret banks
and tax havens in the G20 preparatory meeting at
Berlin In February 2009. India keeps quiet. - These two nations and supported by UK and the US
raise the voice against secret banks and tax
havens in London in April 2009, India keeps
quiet. - German govt. offers to open secret names of the
account holders in LGT Bank of Liechtenstein.
India keeps quiet. - Why India has not effectively worked to get the
names of several Indians believed to be in the
secret records?
Rs. 25 Lac-crores kitna hota hai? (CANCER
TREATMENT) It costs a middle-class Indian family
12 years income to provide cancer treatment for
1 patient Rs. 25 Lac-crores can provide free top
quality cancer treatment to more than 2 crores
Indians.
11India must act
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- Develop national will agenda against black
money in foreign banks. - Get immigration details of the 25,000 frequent
travellers to tax havens. - Upgrade Financial Action Task Force (FATF)
membership to full. - Make specific anti-tax haven laws.
- Publicize entire economic history of overseas
account holders. - Demand LGT Bank of Liechtenstein's secret records
- Ensure India friendly global anti-secret banking
rules - Appoint a special emissary to Germany
Switzerland. - Develop a proper Institutional infrastructure to
fight the flight-of-capital.
Rs. 25 Lac-crores kitna hota hai? (RIVER
INTERLINKING PROJECT) Inter-linking of all Indian
rivers would cost Rs 5.6 Lac-crores, but it would
provide water everywhere. Rs. 25 Lac-crores can
provide finance more than 4 times
12Some tax havens that benefit from Indian money 1/3
13Some tax havens that benefit from Indian money 2/3
14Some tax havens that benefit from Indian money 3/3
15Flight of Capital
Who has, how much of Indias money? Avg. size of
34 tax haven countries 17 kilometers length
(312 sq. kms) Avg. population of 34 tax haven
countries 1 Lac people only Estimated Indian
black money in tax havens 500 billion (Rs25
Lac-crores)
Everything you wanted to know about the Overseas
Black Money issue
- The flight-of-capital is a conspiracy of the
western world against the developing world, that
has permitted the movement of much needed scarce
capital from the developing world into the
developed world.
Rs. 25 Lac-crores kitna hota hai? (VIDARBHA
FARMER SUICIDES) Average farmer suicide loans in
Vidarbha Rs 10,000 (200) With Rs. 25 Lac-crores
no farmer in India will ever commit suicide for
loan repayment And thats a promise!
16- Thank you for your time
- Bharat Mata ki jai
- (Due to the prevalent secrecy in protecting
dirty money by the tax havens, and absence of
adequate laws to ensure 100 disclosures. All
figures are believed estimates. As someone has
said there is a need to focus on the
fact-of-the-loot, rather than on the
math-of-the-loot)