Presentation onBlack Money.

Presented By-

• RUSHIL JOHRI

• RAVI UPADHYAY

• PRAKHAR SHUKLA

• SHIVAM SHARMA

• REHMAN ATHAR SYED

• NIRBHAY SHRIVASTAVA

• RAJEEV YADAV

Black money is:

• The currency used in ‘black economy’.

• The proceeds, usually received in cash, from

underground economic activity.

• Earned through illegal activity and, as such, is not taxed.

What is ‘Black Money’?

Black Money

• Is India poor, who says? Ask the Swiss banks.

• Dishonest Industrialists, Scandalous Politicians andcorrupt IAS, IRS, IPS officers have deposited inforeign banks in their illegal personal accounts a sum

of about $1500 billion.

• This amount is about 13 times larger than the country'sforeign debt.

• With this amount 45 crores poor people can get Rs1,00,000 each.

• Recently, due to international pressure, theSwiss government agreed to disclose thenames of the account holders only if therespective governments formally asked for it.

• Indian government is not asking forthe details... ..no marks for guessing

why?

Swiss Bank

The reasons why people use

Swiss bank accounts?

• Secrecy

• Neutrality

• Quality

India not serious about unearthing

black money in Swiss banks

• Rudolf Elmer, a rare whistleblower

who has brought out much

information on secret Swiss banks

accounts, has accused the Indian

government of not being serious

enough in getting details of black

money stashed away in Swiss banks.

BLACK MONEY….

• Almost every INDIAN knows that

the government works on

corruption and without money no

work will be done correctly.

• This is the main reason behind the

accumulation of black money by

the public representatives.

• Money slashed in Foreign Banks

70lakh Crores in Foreign Countries.

• India is Champion on Black Money.

• 13 times of Foreign debt can be paid.

• 45 crore poor people can get 1lakh

each.

• We need not pay any tax

BLACK MONEY…

TOP FIVE BLACK MONEY COUNTRIES

INDIA $1,500 BILLION (NEARLY 76,00,000/-CRORES)

RUSSIA $470 BILLION

U.K. $390 BILLION

UKRAINE $100 BILLION

CHINA $96 BILLION

Total Black Money in India?

• Swiss bank revealed India has moremoney than rest of the world.

• The second best Russia has 4 timeslesser deposit.

• U.S. is not even there in the countingin top five!

• India has more money in Swiss banksthan all the other countries combined!

• If go into the deeper statistics of

Indian black money which has

proof it looks like this:

Year Black money

1990-2000 4.1lak crores

2006-2007 9.6lak crores

Present 76lak crores

0

200

400

600

800

1000

1200

1400

1600

Category 1

INDIA

RUSSIA

UK

UKRAINE

CHINA

ONLY FIFTEEN PERCENT OF THE TOTAL POPULATION HAVE BEEN ABLE TO ENJOY HIGHEST STANDARDS OF LIVING

Sales

poor

rich

middle class

• Gambling

• False Income Statement

• Drug trafficking

• Weapons trading

• Terrorism

• Selling counterfeit or stolen goods

• Selling pirated versions of copyrighted items such as

software and musical recordings and

• Through any other act forbidden by law.

Sources of ‘Black Money’.

In INDIA it is mainly used by ministers in Elections to

promote their own interests. It is also used in air travel,

land, jewellery etc.

Where is it used ?

List is never ending but to name few are Ministers, Liquor

Traders, Top Industrialists, Senior Officers, Chief Ministers,

etc.

Who is involved in it ?

India’s black money economy is as high as 30 per

cent of the gross domestic product (GDP)

2G Spectrum – Rs. 176,00,000 Cr. A.Raja

Common Wealth Games – Rs.70,000 Cr. Suresh Kalmadi

Stamp Scam – Rs. 20,000 Cr. Abdul Karim Telgi

Satyam Scam – Rs. 14,000 Cr.

Bofors Scam – 16 Million US $

Chara Gotala – 900 Cr. Laloo Prasad Yadav

Hawala Scandal – 18 Million US $ in 1996

IPL Scam – Latit Modi

Harshad Mehta and Ketan Parikh Capital Market Scam

Top 10 Corruption Scams in India: -

Consequences of ‘Black Money’.

• Poverty.

• Inflation.

• Reduces Development.

• Illegal transfer of funds from India to other

countries.

• Simplify/Rationalize tax laws.

• Reduce red tapism.

• Use technology for economic intelligence.

• Co-ordination with other countries.

• Stringent laws to curb money laundering/corruption.

• Creation of awareness among students on the evil of

black money.

• Regulation on election spendings and donation to

political parties/ organizations.

Measures to be taken to reduce ‘Black

Money’.

When it is used in infrastructure side:

• We can lay lakhs of Kilo Meters roads across

india.

• We can see every house in the country with

electricity.

• We can have water supply for all the rural areas

• We can lay railway lines

• We can create employment for lakhs of

unemployed youth.

• Every village can be given 4 crores and they can

be turned into metropolitan villages

Black money has created a big black hole

in Indian economy & the entire burden is

beared by the common people of India.

To stop corruption which creates black

money, we the people of India have to

come forward to fight against corruption.

Conclusion