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Should India make black money info public?

Created by : Ayan Choudhury, Sr/Principal Corespondent, Leading media House  | 01 20 2011 06:39:03 +0000
Industry : Radio, TV & FilmsFunctional Area : Politics(Personal Interests)
Keywords : black money swiss bank accounts black money info india black money black money stashed in international banks
Activity:  475 views;  last activity : 11 30 2011 11:38:52 +0000

Prime Minister Manmohan Singh said that there is "no instant solution" to bring back black money stashed in foreign banks and that information with government cannot be made public due to treaty obligations.  So, should India discard International treaties and make black money info public?

  
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Top Argument
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Even if it is made public, what you and I can do with that information. Its better to form a committee of honest citizens (apolitical), allow them to divest the seized fund for growth and development of Mother India! Raise our literacy rate and blow inequity from this country.
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  01 20 2011 07:10:49 +0000
 
Top Argument
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No,  there is ssome information and that has been provided to the government for use in the collection of due taxes.  PM commented closely on the heels of Supreme Court pulling up the government for withholding information on black money stashed in foreign banks, saying it is not just limited to tax evasion but a "mind boggling crime" amounting to "theft" and "plunder" of national wealth having security ramifications. But PM can't do anything here as the country cannot violate the obligations under international treaties.
By Ayan Choudhury, Sr/Principal Corespondent, Leading media House  01 20 2011 06:39:03 +0000
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Dear Ayan,

According Transparency International's India chapter there is no such treaty that can prevent countries wealth restoration that is illegally stolen or stealthily parked in another country. A strong will to honesty is needed and all other hurdles can certainly be overcome
By Ravindra Sharma, Managing Consultant, CHEF-India  | 12 01 2011 10:20:02 +0000
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Hello Ayan, Yes. Government should make list public and also allow them bring the money and to invest it here. This way our economy will improve and give better results. Rajagopalan
By k Rajagopalan, Area Manager, Amitex Polymers (P) Ltd.  | 11 30 2011 11:38:51 +0000
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It is not regarding what I and you can do with this.Our duty is to make others understand about this.Eradicate poverty.
By vimal , Sr.voip engg  | 11 30 2011 10:10:51 +0000
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see the movie knockout of sanjay dutt
By manish kumar, SEO | Web-cms Developer | FreeTips-- shoot me an email | Mobile SEO | Do more than Just !  | 03 12 2011 11:52:09 +0000
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Yes, most certainly so. The rule of the land always prevails over any international treaties. So why, not. Publish the list alongwith the amounts that they have stashed away and then there would be a sea change in the income tax collections.
By Jaygopal Raghavan, Marketing Manager, Landmark Group  | 01 31 2011 16:45:18 +0000
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definitely we have the right to know. we choose government for our welfare so government should think about us.
By Rohin Kamboj, B.Tech/B.E. student, hindustan cullege of science and technology-mathura  | 01 21 2011 17:47:34 +0000
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In order to live in society we are required to follow certain rules despite of despise for the same . In the same way PM is required to follow International rules .But the efforts could be made by being more transperent -diplaying list of high value contracts in a website where in value of the contract vis-a-vis estimate cost including name and amount paid to the agent may also be diplayed . But what we should do for the system which demands money as every stage as service charges? How to reduce it - it is matter of concern . Readers - keep on visiting my inspirational website www.plusapproach.org
By Dr. Ashutosh Karnatak, Executive Director (Projects)  | 01 21 2011 15:49:40 +0000
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Yes,we also want to know who all are those people.This should be a lesson to all those who try to do the same thing again.So we need to know about all those.If it is not happened ,then it will again make them to deposit only not to withdraw it.
By vimal , Sr.voip engg  | 01 21 2011 05:06:47 +0000
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Hallo Ayan, Yes, The Government should come out with detail information and also bring the money to the Government Kitty. This money can be used development purpose. K Rajagopalan.
By k Rajagopalan, Area Manager, Amitex Polymers (P) Ltd.  | 01 21 2011 04:51:28 +0000
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yes....Thorugh this many politician and reach(big brand) people truthness comes at all people....
By Gopal Kishan Bissa, Assistant Engineer, 3iinfotech CSL  | 01 21 2011 04:35:14 +0000
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YES. It has to be.
By Kandavel Raja, Project Manager, Sobha Developers Ltd  | 01 21 2011 04:08:12 +0000
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Why not. Problem will be that there will be a lot of politicians also in the list. That will make things slightly difficult to handle
By V. Srinivas, Freelancer, Information Technology  | 01 21 2011 02:50:53 +0000
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The government is not taking action for the scams which are public, in such a case does any one expect it to take action which is not public.
By kanukurthy sudershanrao, Operations Manager, Andhra Bank  | 01 20 2011 14:34:20 +0000
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YES... First let us know the culprits, who are preaching us Gandhian Ways all these days. Once we identify them, let the process to recover money begin. Otherwise, they will hold the seats of power, till the process is complete.
By Suryanarayan Murthy, Asst Vice President (Corporate Finance), A Hydro Power Project  | 01 20 2011 07:31:50 +0000
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Of course! It will definitely expose the unexposed.
By Asif M Khatri, Group Account Head, 3 Brothers & Fils  | 01 20 2011 06:52:31 +0000
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see the movie knockout of sanjay dutt
By manish kumar, SEO | Web-cms Developer | FreeTips-- shoot me an email | Mobile SEO | Do more than Just !  | 03 12 2011 11:52:02 +0000
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I am of the opinion the details of black money should be made public.
By Rathin Deb, Freelance Retail Consultant  | 01 25 2011 10:58:39 +0000
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Can we not have a same type of Bank in our country to handle the black money of other nationals.
By Santosh Kumar Mohanty, Civil Engineer-Municipal, Sambalpur University  | 01 22 2011 15:52:25 +0000
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The opinion posted by Mr.Ramesh Kandadai is correct and a valid point.
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 01 21 2011 18:34:34 +0000
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the money should be confiscated to be used for infrastructure development of the country and not used for political millage  
By Vidhu Dar, CEO/MD/Director, Shiva's Retreat  | 01 21 2011 16:16:27 +0000
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No it should not...
By M Syam Sunder, mba student, Amrita school of business  | 01 21 2011 10:02:00 +0000
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Obviously Mr.Ayan.

 
By NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd  | 01 20 2011 18:07:34 +0000
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No it should not be. It would just cause a caos among public nothing else.besides this gov. should take secretly actions for it
By BHUPINDER NOKHWAL, Marketing Officer-Vipul Ltd.  | 01 20 2011 08:20:34 +0000
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NO

 

Public embarrassments do not achieve anything, What is important is to get the money back to India and tax it. For that the finance ministry must work on it case by case and arrange for it discreetly.

 

People should not confuse revenge with results. Publicly displaying the list with amounts does not even have a deterent effect these days downstream of 2G spectrum. Who is bothered about embarassments?

 

The objective should be to repatriate the funds not have a meaningless public display.
By RAMESH KANDADAI, Principal Consultant, ARM Consultants  | 01 20 2011 06:50:22 +0000
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