Every time a writer starts writing an article at The Dehradun Post, back in his/her head, he/she is thinking about young men and women in India. Why? as the very motto of the website is to say something which makes the reader weigh and consider.
That said, today Wall Street Journal shared a news from Argentina. The News we quote is :
Argentina orders HSBC to replace president
Argentina’s central bank on Tuesday ordered HSBC Argentina to name a new president and vice president within 24 hours, accusing the bank of failing to establish necessary controls to prevent tax evasion and money laundering, Reuters reports. Argentine authorities locked horns with HSBC in November when they charged the bank with helping more than 4,000 clients evade taxes by stashing their money in secret Swiss bank accounts. HSBC rejected the charge.
There’s a reason why I’m sharing this news with you. The reason is : It’s one thing to make a promise to fight corruption and entirely another to do it with full heart.
Ever Since the new BJP led Government came to power, it’s saying that it’s serious about fighting corruption in the country. This means taking appropriate action against black money stashed inside and outside the country. But even after 1 and a 1/2 year of its tenure; no real work has been done.
But, this can be understood. As for any political party, the issue of corruption and black money is not more than a Political issue.
Let I tell you why.
If you read the news from Argentina, shared above; then you you will find that the Argentine Government is unhappy with HSBC, for helping its Customers evade tax and launder money to Switzerland.
The situation is not very much different from the previous Government (Congress led UPA Government) imposing retrospective tax on Vodafone ; because the multinational Company evaded tax (to be paid to Indian Government).
The only difference between the present Argentine Government stand and UPA Government stand, was that the India’s UPA Government’s imposed a real penalty and asked Vodafone to pay about USD 2 billion to the Government. The UPA Government actually showed guts to tell the Multi-national Company pay the unpaid tax.
But, the moment UPA Government imposed the retrospective tax on Vodafone; BJP, the opposition party, protested the action, calling it an act which will discourage Foreign companies from investing in India.
The BJP’s stand to this day is the same. Retrospective tax is bad. Because it hurts the country’s image as a favourable investment destination.
My point is simple: If wrongdoings of Corporate and businesses are ignored simply because it harms the country’s image as a favourable investment destination; then how can the present Government led by Modi claim its commitment to fight black money and corruption. The Argentina like situation may be present in India as well! Isn’t it possible?
…hope you understood the point.