Tuesday, September 30, 2008

Who says India is poor ?

India has highest contribution to the Swiss Banks ... the article says

Black money in Swiss banks -- Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:

Top five
India---- $1456 billion
Russia---$ 470 billion
UK-------$390 billion
Ukraine- $100 billion
China-----$ 96 billion

How much is $1456 billion ? ... the article says

1. India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined.

2. With this amount 45 crore poor people can get Rs 1,00,000 each

3. The amount is 13 times larger than the country's foreign debt. Once this huge amount of black money and property comes back to India, the entire foreign debt can be repaid in 24 hours.

4. If this surplus amount (12 times remaining) is invested in earning interest, the amount of interest will be more than the annual
budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain
the country very comfortably.

Read on ...
http://www.merinews.com/catFull.jsp?articleID=137213

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