American Thinker reports: Rajeev Gandhi’s untimely death left Sonia Gandhi extremely wealthy. The true extent of her wealth became known only when the Soviet archives were thrown open following the collapse of the Soviet Union. KGB archives revealed that as far back as 1982, when Indira Gandhi was still prime minister, Soviet trading agencies were channeling funds into a company controlled by her son and future Prime Minister Rajiv Gandhi.
This was also brought to light by Harvard Russian scholar Yvgenia Albats in her book The State Within A State: The KGB and Its Hold on Russia. The Swiss newsmagazine Schweizer Illustrierte (November 11, 1991) provided more details. Citing newly—opened KGB records, it reported that Sonia Gandhi, widow of the former Prime Minister Rajiv Gandhi, was controlling a secret account worth 2.5 billion Swiss francs (about 2 billion dollars at current exchange rates) in a Swiss bank in her minor son's name.
This was of course, the tip of the iceberg. India is number one in the world as far as stashing black money in Swiss Banks.
Now, we have figures for Swiss banks only - there are other offshore banking centres – Cayman Islands etc. One can therefore surmise that amounts stashed in Swiss Banks are also just the tip of the iceberg. Let us see that “tip of the iceberg”.
India is world’s number 1 in stashing black money – a whopping $1.4 trillion dollars = $ 1400 billion dollars = $ 1,400,000 million dollars = Rs 70,00,000 Crores.
And we are talking just about Swiss Banks only !
Daily Times Pakistan reports : “India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. This must be unaccounted money earned in India by wrong means as otherwise any Indian wanting to open a bank account abroad has to take permission of the Reserve Bank of India and records do not show any such permissions granted for deposits in Switzerland.
In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe.
The findings estimated that a large proportion of this wealth was managed from some 70 tax havens.”
A rare accolade to the Communist Party of India
Communist Party of India (CPI) Deputy General Secretary S Sudhakar Reddy said that Government should take steps to bring back $1456 billion. This is allegedly the unaccounted money deposited by Indians in Swiss banks.
"Who could deposit this amount and why at a far of place like Switzerland not preferring banks in India? The answer is simple. This is black money, this is the money unaccounted," he said.
"These depositors are shameless betrayers of the nation and money deposited by them should be confiscated through all legal means immediately and brought back to India," he said in a letter to Prime Minister Manmohan Singh.
Even if it is $1400 billions, it is almost twice to country's Gross Domestic Product (GDP) 15 times more of its budget. If distributed equally among the Indians, each will get approximately Rs one lakh, Reddy said.
"While 36 crore people in the country are living below poverty line, it is unpardonable that a few rich keep the huge amount in Swiss banks," he added.
Milap Choraria submitted 2 application under RTI Act, 205, to the Prime Ministers Office to know actual volume of Indian (black) money deposited in Switzerland’s Banks as per rough estimates of the Government of India and that what action have been taken to retrieve such money from Switzerland to strengthen Indian Economy?
United Nations Convention Against Corruption (UNCAC), gave a chance to retrieve such money from Switzerland, provided India make appropriate law to that affect to recover such stolen Indian Money and prevent them to retain such money any further. But, till date India not ratified such Convention, and wanted to know that what are the reason and hurdles in rectification of such Convention? But, Government failed to supply appropriate information, rather trying to escape on the alleged pretext of alleged exemptions under RTI Act, 2000.
As we all go to vote, we must try to find out who ruled India most for all these years, whose money is “hiding” in the Swiss vaults, who has endangered India’s security where even the Pakistani Chief of Air Staff Air Chief Marshal Tanvir Mehmood Ahmed threatened – “We have made the whole of PAF a nuclear force.” He said the PAF had achieved such a deterrence level that no one could cast an evil eye on the motherland. We fought two wars with India in 1965 and 1971 and prevented three imminent wars in 1998, 2002 and in the recent days in the aftermath of the Mumbai attacks.”
True, India sits calmly as it braces for another attack, which will be followed by platitudes and empty threats emanating from Indian politicians. Our holes in defense are a function of slush money parked in compromised military purchase. And those slush money is now staring at our faces mocking us from the vaults of Switzerland as we face real mocking from Pakistani military and militants.
Pakistan’s ex-President Musharraf did concede, in recently concluded India Today Conclave, the fact that India may have to brace with more Mumbai type attacks. Brilliant that he could simply say that as a matter of fact – and the truth is – India is in a comatose, probably impotent.
(My view on this nuclear threat from Pakistan: Personally I give a fig leaf to this alleged threat. The threat may be real, but the threat to Pakistan is greater and in this scenario of Mutual Assured Destruction (MAD) - it pretty much cancels it out. Even in the case of a nuclear strike, India will be hurt and hurt badly but will not cease to exist - Pakistan will cease to exist. Hence, all these threats from Pakistan mean nothing to me - except empty rhetoric and trying to scare the shit out of our corrupt politicians who hold the nuclear button. Hence, we need to have ex-intelligence / armed forces person to lead India - a la PUTIN to "right certain wrongs". Don't get me wrong - I am well aware of Putin's stashed billions too - but as far as Russia's security is concerned - he does not compromise on that. Our politicians do that as a normal course - that is the difference. And I cannot stand it that they sit smug while cheating our nation of its resources, of its strength and of its security. Time to rob them off their slush funds !).
And in the current global meltdown, that slush money has no business to be sitting anywhere else but in India.
At the very least - This wrong must be “righted”.