capitalism’s achilles heel dirty money and how to
TRANSCRIPT
![Page 1: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/1.jpg)
CAPITALISM’S ACHILLES HEEL Dirty money and How to
Renew the Free-Market System
BY-ARVIND
![Page 2: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/2.jpg)
Main Theme Of The Book
A fascinating insider’s look at the way criminals, terrorists and businesspeople move money around the world, impoverishing billions and corrupting capitalism’s ideals of fair play.
![Page 3: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/3.jpg)
Real Picture of Dirty Money and Free Market System
Overseas Black money…the curse that stops India from developing
• Who has, how much of India’s money? Avg. size of 34 tax haven countries = 17 kilometers length (312 sq. kms)
• Avg. population of 34 tax haven countries = 1 Lac people only
• Estimated Indian black money in tax havens: $500 billion (Rs25 Lac-crores)
![Page 4: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/4.jpg)
Rs. 25 Lac-crores kitna hota hai? Pradhan Mantri Gram Sadak Yojana (PMGSY) makes 1 km concrete road for avg. cost of Rs. 20 lacs ($40,000)With Rs. 25 Lac-crores, India can build 1.25 cr kms of road (33 times the distance between Earth & Moon)
1 MW of Thermal power plant costs India Rs. 4 crores ($800,000)
With Rs. 25 Lac-crores, India can build 6 lacs MWs of power, and provide 24x7 3-phase power to all villages.
![Page 5: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/5.jpg)
1 kg of rice costs Rs. 20 ($0.4)Rs. 25 Lac-crores can give 110 crores Indians 6 kg rice every month for 17 years. (No one will sleep hungry)
A world-class institute, like an IIT, costs 760 crores to setup
With Rs. 25 Lac-crores, India can build 3,300 new such IIT-like educational institutes
![Page 6: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/6.jpg)
1 state-of-art 100-bed hospital costs about Rs. 30 crores ($6million)With Rs. 25 Lac-crores, India can build a world class hospital in every of its 1 Lac villages (100,000 villages)
Indian annual defense budget is about Rs 90,000 crores ($20 billion)
With Rs. 25 Lac-crores can finance India’s defense budget for 27 years.
![Page 7: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/7.jpg)
Flight of Capital
“The flight-of-capital is a ‘conspiracy’ of the western world against the developing world, that has permitted the movement of much needed scarce capital from the developing world into the developed world.”
![Page 8: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/8.jpg)
India must act• Develop national will & agenda against black money in
foreign banks• Get immigration details of the 25,000 frequent
travellers to tax havens• Upgrade Financial Action Task Force (FATF)
membership to full• Make specific anti-tax haven laws• Publicize entire economic history of overseas account
holders• Demand LGT Bank of Liechtenstein's secret records• Ensure India friendly global anti-secret banking rules• Appoint a special emissary to Germany & Switzerland• Develop a proper Institutional infrastructure to fight
the flight-of-capital
![Page 9: CAPITALISM’S ACHILLES HEEL Dirty money and How to](https://reader036.vdocuments.mx/reader036/viewer/2022082511/546f8973b4af9f024c8b459d/html5/thumbnails/9.jpg)
Thank you for your time