The Indian government has been rocked by a series of corruption scandals which have been documented in this blog.The scandals have not only touched the political sphere but also the stock markets.The scams have not stopped with new ones being reported almost on a daily basis but no convictions have happened.The corrupt and the guilty keep on going about their business as usual as the Indian ruling party thinks it can cure corruption with words.The Congress Party in its annual meeting had said that removing corruption would become its top priority with expeditious proceedings against public officials in graft cases.However the law has been criticized as having too many loopholes even before being passed.Even the actions of the government does not inspire much confidence.The Commonwealth Games which was a much publicized national corruption scandal has yet to see a single prosecution.The guilty officials have managed to all get bail with the Suresh Kalmadi the scandal in chief goes about his business as the powerful ruler of the Indian Olympic Committee.All the government has done is to remove him from the post of the Chairman of the Organizing Committee of the CG .Note this is already a dead body with the Games over a month ago.Note Kalmadi is a leading party member and despite his obvious corruption the government refuses to move against him.
Corrupt Indians have stasted billions of dollars ($1400 Billion on the high end) abroad in Swiss Banks but the government refuses to move against them either.Despite admonishment from the Supreme Court of India,the government has failed to reveal the names of the black money offenders.Note this list came due to good fortune and not due to any effort by the government.The authorities are hiding behind confidentiality agreements.This in the day when leaks about public policy are as common as rain.Most of India’s elite have Swiss Bank Accounts to prevent taxation.So this information promises to be highly explosive and could lead to a major upheaval.Note the Finance Minister of India has said that there are billions of dollars stashed abroad.Still nothing will get done as usual.
Finance Minister Pranab Mukherjee on Tuesday said $462 billion to $1.4 trillion in black money is estimated to have been stashed abroad by Indians and all steps were being taken to bring it back. But the names of the perpetrators can’t be revealed yet.
Unless legal provisions are in place in other countries, the two pacts India has been inking to track black money — double tax avoidance treaties and information exchange agreements — cannot help in revealing the names of perpetrators, Mukherjee said.