Black Money

Topics: Supreme Court of the United States, India, Bank Pages: 2 (535 words) Published: September 27, 2011
Black Money in India and Abroad

Much hue and cry is being made on the issue of Black Money deposited by Indian citizens in foreign banks. Opposition parties are raising voices on bringing the Money so deposited in foreign banks. Few of the individuals including Ex. Union Cabinet Law Minister Sh. Ram Jethmalani have moved a petition in the Hon’ble Supreme Court of India. Mr. Jethmalani has been the Law Minister of India and is well aware of the prevailing laws and international treaties agreed by the Indian Government. The Hon’ble Bench of the Supreme Court observed “It is a pure and simple theft of the national money. We are talking about mind-boggling crime. The Government’s inaction is worrying”, during the hearing of the matter on 19th January 2011, as reported by Hindustan Times. The Times of India reported as “It is a pure and simple theft of the national money. We are talking about mind-boggling crime. We are not on the niceties of various treaties.”

A simple question arises whether the money, deposited in foreign banks by Indian citizens, is the only Black Money? The Money deposited in Lockers built in various Indian Banks is not Black Money? We day in and day out read reports regarding Cash kept in almirah in houses and in bank lockers by the corrupt public servants. These are the only those cases which are reported in News papers when agencies got opened their lockers after filing cases against the public servants. What about lacks of other engineers, contractors, Police officials, Income Tax personals, Bank Officials, Officials working in various Development Authorities in different States who have amassed different type of assets by Black Money or have kept huge cash in various Banks all over India, earned through corruption.

It is a cause of concern that no print media or electronics media talk about the Black Money deposited in various lockers of Indian Banks. Even the elite professionals and vociferous political leaders talk about this...
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