Many of the big names in Politics and Business having secret Black money accounts.
So none of them want their names to be public. So they government is unlikely to take action on Individual Basis on each black money account holder.
One alternative is Make the foreign banks with these black money accounts to invest the Black money from Indian unclaimed accounts back in to India.
The obvious question is why would a foreign bank invest even if the Indian governments asks to. The answer is the government can use its soft power.
Let me give you an example:
This is not something new. All countries use their buying power to get concessions.
So none of them want their names to be public. So they government is unlikely to take action on Individual Basis on each black money account holder.
One alternative is Make the foreign banks with these black money accounts to invest the Black money from Indian unclaimed accounts back in to India.
The obvious question is why would a foreign bank invest even if the Indian governments asks to. The answer is the government can use its soft power.
Let me give you an example:
India is one of the Biggest importer of Gold and other precious metals. The CCI link CCI PDF on Indo-Swiss Trade says that a major percent (almost 90%) of Indian imports from Switzerland are gold and precious metals.
So in return for investing our own money sitting in their banks in India, our government can increase its precious metals trade with Switzerland further. In fact we import more gold from Switzerland than anyone else. So wouldn't they be concerned if you say we say we want to reduce our gold imports by half form your country. We are not asking for a unfair deal. We have a higher moral ground as well.
This is not something new. All countries use their buying power to get concessions.
They can invest in a publicly listed government companies at zero % interest rate or much cheaper than the percentage what we have to borrow from world bank.
This will solve one more problem. As and when you borrow from world bank it will come with a list of restrictions that are not always very favourable for the borrowing country.
The only thing we need is political resolve. They dont have it. How do we let them know?. Spread the word and create awareness. The political parties keep hunting the social media for peoples mood. Social media advertising is a important part of election campaign now. So make sure you spread the word and let them understand that you want this done.
All The Election manifestos will mention bringing black money back, they stop short of mentioning concrete steps they want to take.
There is some benefit for every one in this.
If Country's burden of Debt/Interest on that debt decreases, then the same money can be used to reduce oil Price, reduce Tax or to give an extra meal to the poor.
If Country's burden of Debt/Interest on that debt decreases, then the same money can be used to reduce oil Price, reduce Tax or to give an extra meal to the poor.
So why wait hit the share button and spread the word. :)
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