Thursday, August 18, 2011

Is India a poor country?

The black money (http://www.iretireearly.com/1-4-trillion-indias-black-money-stashed-in-swiss-banks.html) in Swiss banks kept by corrupt Indians  ( these are the high and the mighty) is something unfathomable. No country is without corruption but some or better than others.

Estimated summary of Indian black money in Swiss Banks from an email I received recently,

Rs.910603234300000/40==$22,765,080,857,500

I often wonder whether Indians ever take any action against such atrocities, but unfortunately they are both the perpetrators and the victims at the same time. It used to be 'Mamool', the usual money that corruption demanded for any service, like scheduling a meeting with an official or get a priority position to get something done, get a contract, get some extra lighting for a wedding, anything at all etc. But over the years it must have grown into a full fledged operation applying modern methods of financial operations, the Internet, and political manipulations.

This money belongs to the people and should be returned to them.


This is a screen shot of a grass roots organization's bill to get rid of this pestilence.



I wonder,

Will it pass?

What kind of assurance is there that the business will not return to business as usual?

How can we be sure that these consolidated organizations will not be corrupt, because after all they grew in these conditions and they are conditioned?

Will India ever get rid of corruption?

2 comments:

Unknown said...

There has been a lot of coverage in the NYTimes with respect to this issue.

Jayaram Krishnaswamy (mysorian) said...

You are quite right. Also a lot in Indian Newspapers. Thanks

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