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Deoghar (Jharkhand) - Resolution-3

10th National Conference, Deoghar (Jharkhand)

11, 12, 13 November, 2011




Corruption And Black Money- Call For Vyavastha Parivartan



Black money deposited in foreign banks by Indians since 1948 to 2008 amounts to $462 bn as per estimate done by Global Financial Integrity. (Methodology – World Bank residual model & Trade mis-pricing model based on IMF trade statistics)

The illicit financial outflow from India increased during post liberalization period from $22.7 in 2002 to $27.3 bn in 2006. About Rs. 2,100,000 crores are lying in foreign banks and every year about 19 bn dollar or 1 lakh crore rupees as black money goes out of India. Various agencies world over are calculating black money siphoned out of developing poor countries by MNCs etc. and it is about $1 trillion every year. According to a calculation black money stashed out of India is about $1.4 trillion.

It is an open secret now that the MNCs, Traders, Drug Merchants, Officers & Politicians etc. are depositors of Black Money who deposited it in tax heavens countries like Switzerland, Mauritius, Cayman Island, Bahama, Liechtenstein etc.

Rampant corruption at all levels of the Government is making the life miserable for the masses as the public funds are being siphoned off by corrupt politicians, making it impossible to provide quality social services like education, health, drinking water, sanitation, etc. and thereby improving the life of downtrodden.

There is an unholy nexus between corrupt politicians on the one hand and drug paddlers, smugglers and even the terrorists on the other, as huge illegal transfer of funds is being facilitated by these elements. The present Government is neck deep into corruption, is evident from the fact that the Govt. machinery starts misinformation campaign against the persons or groups raising voice against corruption. Government does not even hesitate to crush the movements against corruption using police force.

Governments of different countries have already started making efforts to bring back money parked in tax heavens. This month during G-20 meet, France demanded to end Tax Heavens secrecies. So far 10 countries out of G-20 have received Rs.14 bn as additional revenue through voluntary declaration. Italy – Rs. 600 mn, US – Rs. 2000 mn, Germany – 1800 mn, France – 1200 mn, South Korea – 510 mn, Netherland – Rs. 495 mn, Brazil – Rs. 315 mn, Spain – Rs. 260 mn, UK – Rs. 260 mn, China – Rs. 80 mn.

The Government of India is delaying and avoiding to bring back Black Money as most ruling party financiers are depositors of black money abroad. Names of black money depositors supplied by Germany & 700 persons by France to government are being kept secret. Thus intention of this government is to protect black money depositors. It is high time that government of India is forced to act positively in bringing black money illegally kept abroad.

Swadeshi Jagran Manch is of the firm opinion that corruption and black money is the by product of the present political system, which has emerged as system of loot & plunder. This is endangering our economy, production relations and even our security.

It is imperative to bring basic changes in the present day political and bureacatic system, ending exploitation of workers, farmers and dalits, so as to establish peoples rule in real sense.

To expose mis-deed on the part of Government of India it is resolved to stage protest, agitation throughout India so as to make it a mass movement until black money is brought back. We demand all black money deposited out side India be nationalized and depositor’s property be attached in India. For such aggressive action, SJM will launch a nation wide movement taking along all patriotic forces.

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