Dealing with the CORE ISSUES of the state immediately.

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It is encouraging that the new BJP government, somewhat constrained by SC time limits is going to have its first big cabinet meeting about the alleged $2 trillion---$8 trillion offshored money in the 70 odd tax havens around the world. Notably Switzerland...which allegedly alone holds $1.5 trillion, followed by Mauritius, London.....and so on.

This heinous habit has developed at the behest of British colonialism, and a lack of respect and faith in the Indian state.

Obviously tracking down the big names is important.....but hopefully not based on caste, creed and political inclination. But the black money cannot all belong to billionaires.....and will include a wide range of people from POLITICIANS of all parties; bureaucrats; business people; Mafia. All must be pursued for the sake of unearthing criminal networks, and economic sabotage.

1. Why is India potentially the biggest nation with off shore accounts? What is the psychological cultural reason?

2. Why don't these criminal elements or the legitimate elements have enough confidence to invest/keep the money in India, a relatively stable developing country.

3. What is the source of the corruption culture in India that felicitates such a massive damaging exodus of money from India?

4. What is the role of Western neo-liberal economic policies introduced by the IMF since 1991, which encourages Indians to make their money move out of India?

5. Will the BJP government turn a blind eye to big business houses who have funded the BJP to look seriously into their black money accounts.

6. What is the basic system which allows black money to flow out of India....the networks that operate with NRI's.

It is good that the new BJP government is heading in the direction of serious government/governance, tackling head on the big issues that vex India, rather than slide into meaningless gimmickry and sloganism.

Gimmickry, speeches and sloganism are cheap, empty and easy.

Solving the big structural problems of the state much harder. This area requires focus and sheer hard work.












The returned money should be invested in INDUSTRY and INFRASTRUCTURE which puts money into the pockets of the aam admi, and creates sorely needed jobs for the on going rural urban flight as 75% of Indians will live in cities by 2050............rather than just dumped on the forex.

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First Cabinet move: SIT on black money

By Times of India

The first cabinet meeting of the Modi government on Tuesday decided to constitute a special investigative team (SIT) to dig out black money. The SIT will be headed by a retired Supreme Court judge, M B Shah. The decision on the SIT is in compliance with the Supreme Court directive on black money.

The vice chairman of the SIT will be another former SC judge, Arijit Pasayat. It will be assisted by the Revenue Secretary, directors of CBI, IB, RAW and ED, the CBDT Chairman and an RBI deputy governor. The government was given a week by the SC to set up an SIT.

Briefing the media on the cabinet meeting, law and telecom minister Ravi Shankar Prasad said, "In the first Cabinet of the new government...in the light of the directions of the SC, we have constituted an SIT for unearthing black money... This was an important issue for us."

A press release added, "The SIT has been charged with the responsibility and duties of investigation, initiation of proceedings and prosecution in cases of Hasan Ali and other matters involving unaccounted money."

Prasad said the quick move to set up the SIT "indicates the commitment of the new government to pursue the issue of black money." He added, "Tomorrow is the last date (for setting up of SIT), therefore the very first agenda in accordance with its policy commitment was to have this very high-profile SIT."

According to a press release, other members of the SIT are Director General of the Narcotics Control Bureau, Director General of Revenue Intelligence, Director of the Financial Intelligence Unit, Director of the Research and Analysis Wing and a Joint Secretary in the Central Board of Direct Taxes.

The SIT will also work out a comprehensive action plan to create an institutional structure that would enable the country to fight the battle against unaccounted money. It would report on the status of its work to the court from time to time, the statement added.