Harish Jharia

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30 December 2011

Indian Government Borrowing Rs 40000 Crore from the Market:

India today cartoon “India Zero Tolerance for Corruption”

Indian Government Borrowing Rs 40000 Crore from the Market: 

- Harish Jharia 

Indian government pronounced on Friday that it will borrow Rs 40,000 crore extra from the market, a move impelled by sluggish tax revenues and rising spending obligations. This is the second additional borrowing announced by the government for the current financial year as public finances have been under pressure.

For common men a simple question arises in their mind that what in fact the government is really doing with the financial management of this country. We think that it is a shameful situation for such a big country that it has to borrow loans from the business houses for its survival. 

It is even more shameful for the government who has Indian blocked black money worth Rs 79500 Lakh Crore dumped in Swiss Banks + Rs 176000 Crore eaten away by corrupt politicians in 2G scam + 8000 Crore gulped by Commonwealth Games Officials. 

We are borrowing 40 thousand Crore only… Just see the following amount of Indian money that has either been dumped in Switzerland or eaten away by corrupt Indian bigwig(s) right under the nose of the Law Makers and Law Enforcement Authorities…

The details goes as follows:

Black Money Of Indian Bigwigs  In Swiss Banks:  

$ 1500 billion
= $ 1500 lakh crore 
= Rs 79500 lakh crore 
=  Rs 79500000000000000 (quite difficult to count or write)

Money Embezzled In 2g Scam By Indian Telecom Minister A Raja And Company: 

Rs 1.76 lakh crore
= Rs 1,76,000 crore
= Rs 1760000000000 (quite difficult to count or write)

Misappropriation Of Money In Commonwealth Games By Suresh Kalmadi And Company:

Rs 8000 crore 
= Rs 80000000000 (not so easy to count or write)

Note: I might have committed mistakes while writing the figures, calculating and putting zeros. If so would someone correct those errors... Thanks...

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