Friday, December 13, 2013

Crooks feel so comfortable in India.

A report by Global Financial Integrity, based in Washington in the US, ranks India 5th largest exporter of illicit money. Between 2002 and 2011 around $5.9 trillion were transferred out of developing countries. In 2011 alone $946.7 billion, generated by crime, corruption and tax evasion, drained out of poor countries. India's share in this was $84.93 billion in 2011 and a total of $343.04 billion between 2004 and 2011. GFI President, Raymond Baker says," Anonymous shell companies, tax haven secrecy and trade- based money laundering techniques drained nearly a trillion dollars from the world's poorest in 2011, at a time when rich and poor nations alike are struggling to spur economic growth." Where is all that money going to? The UK has 7 tax shelters and the US has 9. In the US, Alaska, Delaware, Florida, Nevada, Texas, Wyoming and Washington have incorporation laws similar to tax havens. This might explain why Indian politicians keep running to the US on flimsiest of excuses. No wonder India is ranked 94th on Global Corruption Perception Index by Transparency International. These figures are not surprising when we consider that most of our civil servants and politicians are criminals. Within the last 5 years we have been regaled with so many scams that it is impossible to remember the list. Trillions of rupees looted by the scum have to be stored somewhere. Those who have the means keep the money abroad in numbered accounts while the rest invest in properties, thus creating the mother of price bubbles. This relationship is wonderfully illustrated by the adventures of Mr Ashok Khemka who alleged shady land dealings by Mr Robert Vadra, son in law of Mrs Sonia Gandhi. Mr Khemka is an officer in Haryana which has a Congress government and the Congress will do anything to protect The Family. Thus Mr Khemka has been charged with misconduct by the Haryana government while civil servants, who were found to be complicit in shady deals by the High Court, have not been charged. Even more incredible, there are intelligent and educated people who actually advocate not punishing civil servants for the crimes they commit. Apparently this frightens them so much that they stop working. Make it a law that if a file is not cleared by one month they lose one month's salary and see how they jump. Should we be making excuses for criminals to make them feel safe?

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