BLACK MONEY--STIGMA ON INDIA - Business & Economy - General Economy - TIK Share




Our bureaucracy has become a spineless structure in which we cannot stand up to the unethical pressures given by the executive and the people who have got lot of money. Sardar Vallabhai Patel stressed on the fact that the adminsitration must be decentralised and youth must be made a part of the nation building efforts. The institution of the Indian Administrative Service, Indian Police Service since 1975 has encouraged the people to work for the government. Many political leaders began to admit their relatives in the IAS, IFS, IPS and other government jobs by givine huge amount as bribes. These money began to be transferred to banks in Switzerland on a regular basis and did not have any records. These type of money came to be known as the Black Money and many people who were carrying out financial crimes, suddenly became richer. People wanted to have the black money to come to India, but none of them had the guts to voice out ttheir concerns.

However, after many years in the year 2011 V.S Pandey a senor IAS Officer along with the Julio Roberto a former police chief, aided by a non government organisation known as teh Indian Rejuvenation Initiative IRI came to the foreground to dig and extract the money lying in many top banks in europe. Ram Jethmalani also encouraged the black money case to be investigated by an independent agency, so that the truth can come out.

The menace of black money actually developed in the late 80's when industrialists, businessmen began to finance the political parties to win tthe assembly seats. Lot of money was invested and election became the biggest money laundering hub, which went unfortunately unnoticed for decades.

At present the Modi government, before it came to power emphasized on the fact that black money must be brought to India at any cost. After comming to power, it began to contact various banks to extract the black money, and bring the cultprits to justice. The supreme court intervened and stated that neither the government nor the supreme court will have the right to open the sealed envelope which has been despatched from Geneva. The team to carry out the investiggation was done and came to be known as the SIT (Special Investigation Team) to investigate murkier deals and the scams which has been associated with Indian politics for decades.

At present, the government must play a vital role to bring in all the black money stashed abroad to give a clear picture to the people that no body will be spared for doing wrong things. The government must use that black money to develop basic infrastructure, and the projects which is suffering from lack of financial assistance. It must also try to bridge the gap between the poor and the rich to make India a superpower strong enough to challenge the might of USA, UK, FRANCE, JAPAN and other developed nations of the world.