Aug 15, · It must have inherent powers to investigate corruption cases against officers of All India Services irrespective of the assignments they are holding or the state they are serving in. Besides appointing the head of the CBI through a collegium, as recommended by the Lokpal Act, the government must ensure financial autonomy for the outfit Jun 10, · The first essay is a long essay on Corruption In India of words. This long essay about Corruption In India is suitable for students of class 7, 8, 9 and 10, and also for competitive exam aspirants. The second essay is a short essay on Corruption In India of words. These are suitable for students and children in class 6 and below Jun 15, · Corruption Speech: Corruption continues to be a significant problem in the world’s largest democracy and a substantial risk for the businesses operating there. India slipped further down the rankings of the Corruption Perception Index (CPI) for , an annual assessment by Transparency International that ranks countries and territories worldwide on perceived public sector corruption.
Essay On Corruption – blogger.com
In Indiablack money is funds earned on the black marketessay corruption in india, on which income and other taxes have not been paid.
Also, the unaccounted money that is concealed from the tax administrator is called black money. The black money is accumulated by the criminals, smugglers, hoarders, tax-evaders and other anti-social elements of society, essay corruption in india.
The total amount of black essay corruption in india deposited in foreign banks by Indians is unknown, essay corruption in india. The root cause for the increasing rate of black money in the country is the lack of strict punishments for the offenders. The criminals pay bribes to the tax authorities to hide their corrupt activities. Thus, they are rarely punished by the judge. The criminals who conceal their accounts from the government authorities include big politicians, film stars, cricketers, and businessmen.
Some Indian corporations practice transfer mispricingby under-invoicing their exports and over-invoicing their imports from tax haven countries such as Singapore, UAE, and Hong Kong.
Political organizations, essay corruption in india, corrupt politicians and government officials take bribes from foreign companies then park or invest the money abroad in tax havens for transferring to India when needed. In addition, locally earned bribes, funds and collections are often routed abroad through hawala channels in order to evade Indian tax authorities and consequent legal implications.
In the Vodafone-Hutchison tax casea foreign multinational company also evaded tax payments in India by making transactions with shell companies registered in tax haven countries, essay corruption in india. The unlawfully acquired money kept abroad is routed back to Essay corruption in india by the round tripping processes.
Round tripping involves getting the money out of one country, sending it to a place like Mauritius and then, dressed up to look like foreign capital, sending it back home to earn tax-favoured profits.
Foreign direct investment FDI is one of the legal channels to invest in Indian stock and financial markets. As per data released by the Department of Industrial Policy and Promotion Essay corruption in indiatwo of the topmost sources of the cumulative inflows from April to March are Mauritius It is not plausible that the small economies of Mauritius and Singapore are the true origins of such huge investments. It is apparent that the investments are being routed through these jurisdictions in order to conceal from revenue authorities the identities of such tax evaders; In many cases they are Indian residents who have invested in their own companies.
Investment in the Indian stock market through participatory notes PNs or overseas derivative instruments ODIs is another way in which essay corruption in india black money generated by Indians is re-invested in India. The investor in PNs does not hold the Indian securities in her or his own name. These are legally held by the FIIs, but derive economic benefits from fluctuations in prices essay corruption in india the Indian securities, as also dividends and capital gains, through specifically designed contracts.
Foreign funds received by charitable organisations, non-government organisations NGOs and other associations essay corruption in india not disclose the Indian beneficiary. Gold imports through official channel and smuggling is a major conduit to bring back the black money from abroad and convert into local black money as the gold commands high demand among the rural investors particularly.
Unlike in essay corruption in india decades, the interest rates offered abroad in US currency is negligible and there is no capital appreciation if the money is parked abroad by the Indians.
So, Indians are routing their foreign funds back to India as the capital appreciation in Indian capital markets is far more attractive. In earlyseveral reports Indian media alleged Swiss Bankers Association officials to have said that the largest depositors of illegal foreign money in Switzerland are Indians, essay corruption in india. James Nason of Swiss Essay corruption in india Association in an interview about allowed black money from India, suggests "The black money figures were rapidly picked up in the Indian media and in Indian opposition circles, essay corruption in india, and circulated as gospel truth.
However, essay corruption in india, this story was a complete fabrication. The Swiss Bankers Association never said or published such a report.
Anyone claiming to have such figures for India should be forced to identify their source and explain the methodology used to produce them. In Augustthe government revised the Double Taxation Avoidance Agreement to provide means for investigations of black money in Swiss banks. This revision, expected to become active by Januarywill allow the government to make inquiries of Swiss banks in cases where they have specific information about possible black money being stored in Switzerland.
Inthe Indian government received the names of Indians who had accounts with HSBC. As of Decemberthe Finance Ministry has refused to reveal the names, for privacy reasons, though they did confirm that no current Members of Parliament are on essay corruption in india list. In response to demands from the Bharatiya Janata Party BJP opposition party for the release of the information, the government announced on 15 December that, while it would not publish the names, it would publish a white paper about the HSBC information.
According to White Paper on Black Money in India report, published in MaySwiss National Bank estimates that the total amount of deposits in all Swiss banks, at the end ofby citizens of India were CHF 1. The Swiss Ministry of External Affairs has confirmed these figures upon request for information by the Indian Ministry of External Affairs. In FebruaryCentral Bureau of Investigation CBI director A P Singh speaking at the inauguration of first Interpol global programme on anti-corruption and asset recovery said: "It is estimated that around billion dollars of illegal money belonging to Indians is deposited in tax havens abroad.
Largest depositors in Swiss Banks are also reported to be Indians". In a hint at scams involving ministers, Singh said: "I am prompted to recall a famous verse from ancient Indian scriptures, which says — यथा राजा तथा प्रजा. After formal inquiries and tallying data provided by banking officials outside India, the government of India claimed essay corruption in india May that the deposits of Indians in Swiss banks constitute only 0.
Further, the share of Indians in the total bank deposits of citizens of all countries in Swiss banks has reduced from 0. The through the Investigation Division of the Central Board of Direct Taxes released a White Paper on Black Money giving the Income Tax Department increased powers.
In February ,balances for the year —07 in HSBC 's Geneva branch. The list was obtained by French newspaper Le Monde and included the names of several prominent businessmen, diamond traders and politicians. The list which had names of dictators and international criminals, was simultaneously published by news organisations in 45 countries including The Guardian, UK; Haaretz, Israel; BBC, essay corruption in india, London.
The Panama Papers scandal is the largest-ever leak of information on black money in history. These documents pertain tooffshore entities and span almost 40 years. The papers originated from Mossack Fonsecaa Panama-based law firm with offices in more than 35 countries. The list of names exposed in the scandal includes Indians who flouted rules and regulations, such as Amitabh BachchanAishwarya RaiNiira Radia[32] KP SinghGarware family, essay corruption in india, Harish Salveand others.
From tothe BJP included the return of Indian black money in their manifesto. He said this decision was taken to crack down essay corruption in india black money and corruption which was destroying the country. He also said that the process of cash circulation was directly related to corruption in his country impacting the lower classes of society.
As per government figures, the number of income tax returns filed for —17 grew by 25 per cent to 2. The department carried out a total of search, survey and enquiry operations and has issued 5, notices to various entities on charges of tax evasion and hawala -like dealings. The department also referred a total of cases to other agencies like the CBI and the Enforcement Directorate ED to probe other financial crimes like money launderingdisproportionate assets and corruption.
The Economic Times reported that Indian companies as well as politicians routinely misuse public trusts for money laundering. India has no centralized repository— like the registrar of companies for corporates—of essay corruption in india on public trusts. Noted jurist and former law essay corruption in india Ram Jethmalani along with many other well known citizens filed a Writ Petition Civil No.
In Januarythe Essay corruption in india asked why the names of those who have stashed money in the Liechtenstein Bank have not been disclosed. The SC on 4 Julyordered the appointment of a Special Investigating Team SIT headed by former SC judge BP Jeevan Reddy to act as a watch dog and monitor investigations dealing with the black money.
This body would report to the SC directly and no other agency will be involved in this. The two judge bench observed that the failure of the government to control the phenomenon of black money is an indication of weakness and softness of the government.
The issue of unaccounted monies held by nationals, and other legal entities, in foreign banks, is of primordial importance to the welfare of the citizens. The quantum of such monies may be rough indicators of the weakness of the State, in terms of both crime prevention, and also of tax collection.
Depending on the volume of such monies, and the number of incidents through which such monies are generated and secreted away, it may very well reveal the degree of "softness of the State. The government subsequently challenged this order through Interlocutory Application No. The bench consisting of Justice Altamas Kabir in place of Justice B Sudershan Reddy, since Justice Reddy retired on 23 September pronounced a split verdict on whether government plea is maintainable.
Justice Kabir said that the plea essay corruption in india maintainable while Justice Nijjar said it is not. Due to this split verdict, essay corruption in india, the matter will be referred to a third judge.
In AprilIndian Government disclosed to the Supreme Court the names of 26 people who had accounts in banks in Liechtenstein, as revealed to India by German authorities. On 27 OctoberIndian Government submitted name of three people in an affidavit to the Supreme Court who have black money account in foreign countries. The honorable bench of the Supreme court also asked the Centre not to indulge in any kind of probe rather just pass the names to them and Supreme court will pass the order for further probe, essay corruption in india.
But the facts were the other way round, as the clarification affidavit filed by the Finance Ministry on 27 October revealed. It added that the CBDT officials also met and briefed the SIT on the essay corruption in india of essay corruption in india cases, background of the information received, non-sharing of information by Swiss authorities, and constraints faced by the government and alternative methods of securing account details.
On 12 MayRam Jethmalani attacked Modi Government for failing to bring back the Black money as was promised essay corruption in india Election. International tax lawyer Ashish Goel has argued that the Modi Government failed miserably to take steps to bring back black money stacked in foreign banks.
On 2 NovemberHSBC whistleblower Herve Falciani said he is willing to "cooperate" with the Indian investigative agencies in black money probe but would need "protection".
Prashant Bhushan and Yogendra Yadav furnished a letter written by Falciani on 21 Augustto Justice retd M B Shah, who is heading the SIT on black money. Indian Government has repeatedly argued before the Court that it cannot divulge the names. It has further argued that the privacy of individuals would be violated by the revelation of data, essay corruption in india.
These arguments are only designed to stall the revelation of names of some favoured entities. BJP leader Dr. Subramanian Swamy said that DTA was not a valid reason for not revealing names of the accounts of Indians held in foreign banks.
DTAA is about declared white incomes of entities so that tax may be levied in one or the other country and not in both. Black income is not revealed in either of the two countries so there is no question of double taxation. Further, this data would not be available to either of the two countries to be exchanged. It is no wonder then that till date, no data has been supplied to India by any of the countries with which this treaty has been signed. In brief, DTAA is about essay corruption in india incomes and not black incomes, so it is disingenuous to say that in future no data would be given to us if names are given to courts.
Different governments have tried to stall SIT. The HSBC Black money whistleblower Herve Falcianiwho works with a team of lawyers and experts, told NDTV that there is " times more information" available for investigators and there are a lot of business procedures to be unveiled to them.
They can contact us," he said. He said India was given only 2 MB of the GB of data. Hasan Ali was arrested by Enforcement Directorate and the Income Tax Department on charges of stashing over 60 billion rupee in foreign banks. However, media sources claimed this case is becoming yet another perfect instance of how investigative agencies like Income Tax Department go soft on high-profile offenders. According several news reports, the probe against him has proceeded at an extremely slow pace and seems to have hit a dead end.
But the problem is that the law enforcement agencies have precious little evidence to back their claims, essay corruption in india. For one, UBS Zurich has already denied having any dealings with Hasan Ali.
According to this study, essay corruption in india, the average size of the shadow economy as a percent of "official" GDP in 96 developing countries is
How to Stop Corruption? Sadhguru [Election 2014]
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The Panama Papers scandal is the largest-ever leak of information on black money in history. International Consortium of Investigative Journalists first obtained the leaked information, revealing over 11 million documents. These documents pertain to , offshore entities and span almost 40 years Dec 24, · India as a nation is the best example of “Unity in Diversity” with people of different religions and culture living together following the rule of land as per the parameters laid by the Constitution of India. Unity in Diversity Essay 2 ( words) The meaning of unity in diversity is the existence of oneness even after various differences Jun 15, · Corruption Speech: Corruption continues to be a significant problem in the world’s largest democracy and a substantial risk for the businesses operating there. India slipped further down the rankings of the Corruption Perception Index (CPI) for , an annual assessment by Transparency International that ranks countries and territories worldwide on perceived public sector corruption.
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