Tag Archive for 'Parallel economy'

The Color of Money

Money comes in all hues and color and in different forms . If you look at the preferred color , it is undoubtedly BLACK and that too in safe havens . The Swiss banks make a killing out of this global phenomenon and charge a hefty interest for keeping the ill gotten tax free booty and for their confidentiality . If the number of Indians using this facility has gone up significantly in recent times , it is a sign of  Indian prosperity – of our parallel economy . It is also a strong indictment of our governance and monetary vigil or lack of it .

Black money funds political parties , terrorism , drug traffic and trans border illegal business ventures . No government has been able so far to prevent this malady even without the existence of Swiss Banks . Unless there is total transparency in government and corporate functioning  , no cosmetic measures will work in eradicating this cancer in the economic fabric of nation states globally .

Can the Indian Government show moral courage to expose all those whose data is now available with them ?

India – The Poor – Rich Country

The last two days witnessed and covered widely in the electronic media the great IPL auction process  – Corporate houses , media barons and prominent film personalities  bidding for Indian and foreign cricket players to form different teams – 10 in number this year for the 74 league matches  and knock out series during April and May . Millions of Dollars or Crores of Rupees pledged to bag the international mercenaries of  bat and ball .  We are a truly rich country !

Let us look at the money reportedly changing hands in illegal manner due to various scams last year  – four to five lakh crores or billions of dollars with no tax liability ! . CWG Scam , 2 G Scam , Adarsh scam , statue scam  , fodder scam , real estate scam – the list is pretty long and impressive .

The great Indian marriage circus is another example of vulgar display of money power which only benefits the jewelers and money bags in the society . Why can’ t we legislate norms for expenditure in such cases to avoid ostentation and chanelise such funds to the welfare of the downtrodden in our society ? A few trillion dollar thus saved from the parallel economy  can feed , educate , cloth and create bread winners for our poor village folks who die by the dozen due to floods , malnutrition , lack of adequate medical care and crops failure in this country .

It is high time that the citizens of this great country mobilize public opinion in a meaningful manner to put an end to this rut we have found ourselves in .