Wednesday, March 2, 2011

Limit, Continuity and Loophole

It’s not about calculus, it’s about politicians and officials those who stash their money abroad. When I hear the money taken as bribe to the tune of hundreds of crores of rupees or the combined asset of some officials or politicians being to the tune of thousands of crores, all my fingers get used when counting zeros and still don’t understand the value of it. I wonder do they really know the worth of it.

In one of the similar article in TOI says : "Take 50 crore for a magnificent mansion. Add two lakh for food each month (the price of onions has gone up), five lakh for travel (petrol is getting dearer), two lakh for help (must treat the people right), one lakh for electronics (ironically, telecom prices are going up), another two lakh for education (you have to care for your future) and another four lakh for miscellaneous expenses. That adds up to 16 lakh a month or two crore a year. Take a normal lifespan of another 50 years and you get a 100 crore. Add another 100 crore for inflation. That's 250 crore: $60 million." Read full article
Does the politicians and corrupt officials gets down to that number and do they stop after achieving the goal. Biggest question is do they really able to utilize the money which is parked in some foreign bank. They are being able to enjoy only a percentage, in fact they don’t need more than that. In past, Various schemes by government has helped in recovery, like declaration of black money, retiring 1000 Rs note in 70s etc etc. but the practice has not stopped only. Because people might start taking bribe or illegal money for their need in the beginning but later they can’t stop it, also
  1. They gets into vicious cycle and unable to get out of it.
  2. Additionally, they become greedier by each passing day, without knowing the value and outcome.
We need this money, one because it’s our money and second we need it for developing our nation. The other side of story is we cannot stop this drain as this has become habit and from top to bottom in governance is part of it. What can be done is to retain this drainage in our own country. We should have some kind of judiciary and banking loopholes so that the people having black money can keep the money in India itself and do not resort to foreign banks abroad. By this loopholes I don’t mean to promote corruption, instead recycling the money into country’s economy.

1 comment:

  1. I think the only solution is quick and harsh punishment.for this we may have to change law,amend constitution....whatever...
    crime always go by punishment
    desi boli mey"laat ke devta baato se nahi mante.
    one person is trying to do it all,with help of large number of common people,he is Swami Raamdev Ji through "Bharat Swabhimaan".
    one can follow his words & work.