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India’s Black Money Abroad: $500 Billion, Says CBI!

By on Feb 13, 2012 in Wisdom | 1 comment

The CBI director, Mr. A. P. Singh has said that the amount of Black Money deposited by Indians in tax-heavens abroad is over $500 billion. He further says that the money has been siphoned out of India through tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc. Not only that; India seems to be the biggest depositor of black money (aka unaccounted money) in foreign banks – a claim that’s been made by the Swiss banks themselves! He further added that digging out information about illegal transaction from India is a time consuming process as every step involves sending requests through the judiciary system. The ‘least corrupt’ countries are the ones that are popular as tax heavens (and why’d they be corrupt when the corrupt are pouring all their money in their banks?). New Zealand is the least corrupt country while Singapore...

Practical Ways Of Bringing India’s Black Money Deposited Abroad Back To India

By on Aug 1, 2011 in Wisdom | 4 comments

Thanks to the education system we’ve been following in India since British Rule that ‘Economics’ & ‘Finance’ – two of the most important topics have become TOO COMPLICATED for a normal human to understand. Now, I’ve began believing that Economics and Finance aren’t complicated topics. I’ve talked about Bringing India’s Black Money Back previously. I had doubts whether there are any ways to bring India’s black money deposited abroad back to India. Following are the answers – 1. Supreme Court Of India Should Declare All Black Money Deposited In India as ‘National Asset’ If the Supreme Court of India declares all of India’s money deposited abroad as ‘National Asset’, then it would be a cakewalk for India to bring all its money back. As long as money deposited in banks abroad is...