It may seem like an unpalatable truth to the powers that be in the country. But it’s the unholy nexus between politicians, bureaucrats and businessmen which has ensured that the black economy thrives in the country.
Regardless of government claims that it’s taking steps to bring back black money stashed abroad, very little has been done or is being done in real terms. Not only has the government come under searing attack from the main Opposition party in parliament, the BJP, it is also finding itself under increasing scrutiny by the Supreme Court which has described the siphoning away of money into banks abroad as “pure and simple theft”.
To the government’s discomfiture, the country’s apex court has been demanding to know the exact sources of black money and whether it was being generated through smuggling, arms deals and drug trafficking. It also asked the government what action was being taken against Indian citizens whose funds are parked illegally in foreign banks.
more at deccanchronicle
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