Finance, Forex and Investments

Would Wall Street like protests break out in India too some day?

The Congress led UPA govt had in the name of Reforms, enriched the elite segment of the Indian community, the corporate, who virtually rule the policies of govt itself. Apart from them, the corrupt politicians, bureaucrats and big business people who had siphoned off the wealth generated by people under them to foreign tax havens, are now under close scrutiny and their spoils are hotly discussed across the country. Thanks to the calculated delays in booking the culprits among whom their own political bosses fall, the moneys are now being brought back under equally dubious ways, posing a threat to our economy and security as well. A few samples: “This could be the mother of all scams in India” – yahoo news On Friday 14 October 2011 .. in 2010-11 foreign investor flows added up to US$ 22 bn, according to official data. The Kotak analysts did a cross-check with international sources like exchange-traded funds and EPFR Global. Their analysis shows that not more than US$ 4.5 bn came in to India. So, where did the other US$ 17.5 come from? (Is it difficult to guess even for a school student that the Swiss deposits are getting diverted back?!) “Corporate socialism's 2G orgy” - Article dated March 7, 2011 in The Hindu In six years from 2005-06, the Government of India wrote off corporate income tax worth Rs.3,74,937 crore — more than twice the 2G fraud — in successive Union budgets. The figure has grown every single year for which data are available. Corporate income tax written off in 2005-06 was Rs.34,618 crore. In the 2010-11 budget, it is Rs.88,263 crore — an increase of 155 per cent! Unlike the illicit fund flows, this plunder has a fig leaf of legality. Unlike those flows, it is not the sum of many individual crimes. It is government policy. It is in the Union budget. And it is the largest conceivable transfer of wealth and resources to the wealthy and the corporate world “Indian Black Money: The Swindler’s List” - From Tehelka Magazine, Vol 8, Issue 6, Dated February 12, 2011 It is almost two years since the German Government had passed on the names and bank account details of eighteen Indians who had stashed their alleged ill-gotten wealth in the LGT bank of Liechtenstein.. Finance Minister Pranab Mukherjee have since said more than once that this list cannot be disclosed to the Indian people.. However, once the government launches prosecutions, the name would be made public, he had said. But the cases are still to be filed on the guilty! ---------- Would there be a Wall Street type protest in India also if the dare devils continue in their ways to protect the looters of our national wealth? Please share your critical views!

Public Comments

1. Why not ? Indian public is also aware of , what is happening around world. However in India, unemployment is not taken as seriously as in other parts of world, because the vacancies are there in India & only time is the factor as most of us think. In other countries vacancies are very less for jobs.
2. Y E S.
3. yes, but it is called anti corruption movement. Any protest will become success in india, if there is masses involvement like poor people.
4. I think NO, because "Wall street protest" are for the wrong doings done by wall street bankers, which then affects the population badly, because in america banking is not regulated by government, so its like a money making factory, without regulation from anyone. that's y their bankers make ample amount of money, and no one knows about it. But in india on the other hand, we may have protest against corruption, but there will be never a protest like that, because indian leaders never deregulated the banking, or any other sector, everything is under their control. we may abuse them every other time, but on few things some really deserve respect.
5. what do you mean
6. No,never because we are a violent lot although we had the Father of the Non-Violence movement who secured freedom for us from the British.Isn't it ironical? Have a Peaceful Day.
7. They would if someone would start the movement. They waited for one Hazare or Ramdev to gather and protest for a strong LP bill; or a JP was necessary to fight the totalitarian trend taken by Indira (with her stress on ''committed judiciary'', disregard for consensus even with stalwarts in her own party, not to mention the scant respect for the oppositoin / media / or even judicial verdicts!).. the people wait for right persons to take the lead and gather around them! So it is quite probable that the situation may arise here if the present rulers continue to be against Aam Aadmi and favour the rich business, the tax evaders and scamsters! I do not agree with the scholar who says here that Indians are violent as a rule! Perhaps he mistakes the Telangana or Singur agitations with average Indian mindset! They are mainly organised by political outfits, not well meaning social leaders! Hazare followers or Ramdev supporters were not violent, but violence was thrown on them by the State!