CAPITALISM’S ACHILLES HEEL

Dirty money and How to

Renew the Free-Market System

BY-ARVIND
 Main Theme Of The Book

A fascinating insider’s look at the way

criminals, terrorists and businesspeople move
money around the world, impoverishing
billions and corrupting capitalism’s ideals of
fair play.
 Real Picture of Dirty Money and
Free Market System
Overseas Black money
…the curse that stops India from developing
• Who has, how much of India’s money?
Avg. size of 34 tax haven countries = 17 kilometers
length (312 sq. kms)
• Avg. population of 34 tax haven countries = 1 Lac
people only
• Estimated Indian black money in tax havens: $500
billion (Rs25 Lac-crores)
 Rs. 25 Lac-crores kitna hota hai?

Pradhan Mantri Gram Sadak Yojana (PMGSY) makes 1 km

concrete road for avg. cost of Rs. 20 lacs ($40,000)
With Rs. 25 Lac-crores, India can build 1.25 cr kms of road
(33 times the distance between Earth & Moon)

1 MW of Thermal power plant costs India Rs. 4 crores

($800,000)
With Rs. 25 Lac-crores, India can build 6 lacs MWs of
power, and provide 24x7 3-phase power to all villages.
1 kg of rice costs Rs. 20 ($0.4)
Rs. 25 Lac-crores can give 110 crores Indians 6
kg rice every month for 17 years. (No one will
sleep hungry)

A world-class institute, like an IIT, costs

760 crores to setup
With Rs. 25 Lac-crores, India can build
3,300 new such IIT-like educational
institutes
1 state-of-art 100-bed hospital costs about
Rs. 30 crores ($6million)
With Rs. 25 Lac-crores, India can build a world
class hospital in every of its 1 Lac villages
(100,000 villages)

Indian annual defense budget is about Rs

90,000 crores ($20 billion)
With Rs. 25 Lac-crores can finance India’s
defense budget for 27 years.
 Flight of Capital

“The flight-of-capital is a ‘conspiracy’ of the

western world against the developing world,
that has permitted the movement of much
needed scarce capital from the developing
world into the developed world.”
 India must act
• Develop national will & agenda against black money in
foreign banks
• Get immigration details of the 25,000 frequent travellers
to tax havens
• Upgrade Financial Action Task Force (FATF) membership
to full
• Make specific anti-tax haven laws
• Publicize entire economic history of overseas account
holders
• Demand LGT Bank of Liechtenstein's secret records
• Ensure India friendly global anti-secret banking rules
• Appoint a special emissary to Germany & Switzerland
• Develop a proper Institutional infrastructure to fight the
flight-of-capital
Thank you for your time