India Issues-Unaccounted Money

As Indians we believe that God is Omni present and Omni potent. We pretend to be averse to the materialistic way of life as we are believers in the theory of Karma which ordains that for the sins we commit in this world, we will have to take several births to atone and finally reach the feet of the lord for ever. The Vedas are clear, the Philosophy is clear. In fact, the Vedas instruct us not to borrow money but live with what ever means at our disposal. There is a stress on the righteous way of life based on the truth. The Vedas permitted a man to borrow under difficult financial conditions as an exception, but only to the extent that he has means to repay. At the time of death, one should not have any unpaid dues according to the Vedas. So even if one has to borrow, he needs to repay before death so that he can travel to nether worlds. Vedas further stipulated that those who die with unpaid dues to others can not be released from the bondage of earth, till his / her immediate successors pay off his/ her dues with interest. In the event the deceased has no direct successors, even then his distant successors need to repay the principal amount at least to whom the deceased owes dues in order to allow his spirit to travel away from the bondage of earth. If the Hindu religion is so stringent even with borrowings a person can make, imagine what fate awaits those who earn money through illegal means by indulging in corrupt practices. For sure, they receive a server punishment at the hands of the God.

Money of Indian origin to the tune of an astounding amount of $1.4 trillion according to reports is lying in the Swiss Bank where as India's GDP in 2007 has been assessed at $1.2 trillion. This amply proves that the black money held by Indians in Swiss banks alone exceeds the GDP of the nation. According to some reports, black money constitutes 18-21% of the GDP and is in the range of around 200 billion dollars. It is a clear proof that many of us as Indians deviated from the path of religion and wisdom and are more materialistic than the die hard materialists else where.

The root cause of this situation is the exploitation of the resources of the country by business men, administrators and leaders due to the loopholes. It is the result of transparency and lack of integrity and honesty.

It is this untaxed money in dishonest hands in India that has blocked the improvement in the lives of millions of Indians. It is this money that has stood in the way of ensuring a decent life for the millions and millions in India. It is the main reason for failure to provide the basic amenities like reasonable shelter, potable drinking water and food for the majority of the people. This untaxed money is the biggest stumbling block for the emergence of the nation that has ensured decent standard of living to its citizens.

This black money has powered the political system that has interest in creating and retaining their grip over the divided sections of the community. This black money has been effectively used to build the empires for the politicians and business men and administrators based on the divisive politics.

Every body knows that in India, corruption is a well oiled parallel system that that feeds those greedy at the cost of citizens. It is for this reason that Rajiv Gandhi once lamented that out of every one rupee targeted for the development and welfare of rural areas, only 1/10 is reaching the end beneficiary. The rest of 90% is pocketed by the unscrupulous among the politicians, businessmen and administrators.

It is a common in India to expect that those who are performing their duties as political leaders holding the government power or the administrative machinery expects some private un accounted premium from the end users for the duties performed. This exploiting class has personal interest above the public service in their hearts. If a contractor wants a government contract, he needs to prepare himself to pay huge amounts to those involved in the process of granting him contract. If you need to register a house or plot of land, you need to be prepared to pay a certain percentage of money unofficially to those who matter, apart from the prescribed government fee. The businessmen too conceal most of their real income and show only that much for which they want to pay taxes. Where ever there is a loophole to evade tax or earn money through dishonest means, Indians are unfortunately at it. It is not to say that there are no honest people in the nation. But their dwindling numbers have led to alarming increase in dishonest ways to earn and accumulate the wealth.

India has only one enemy that needs to be fought with all might. India needs to wage a war to cleanse the system from the greed syndrome with toughest measures. One of the measures that act as disincentive for earning money through dishonest means is to take away the right of inheritance. At the time of death of a person, the property and all the assets must return to the state and there by people. The lure of passing on the ill gotten wealth to their children that needs to be curbed with an iron hand. Then only India can solve the problems faced by the people.

It is a thorough overhaul of the system to get rid of the greed from the corrupt minds that can create fair opportunities for every body based on merit. Till then, democracy means electing leaders who have 'accumulation of wealth' as the secret desire shadowing the stated 'service to the people' as their guiding philosophy.

India needs to rediscover its strength by imbibing qualities that discourage accumulation of wealth by dishonest means. Then only India can make a difference to the vast multitudes of its citizens.

India can create a society which is just, which gives opportunities to every one based on merits and emerge stronger on the global scene by fighting the twin devils of corruption and dishonesty.