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| No law to deal with scammers in India | | |
Jammu, Feb 20: Every power holder parrots of patriotisms and sinless country. But country is victim of scandal after scandal but still there is no law to deal with these scammers. Experts suggested if people at the helm of affairs take the scam regime serious and want to make an end to it, then it is mandatory to frame new laws with strict implementation so that grabbed sum may be recovered back in the large interest of the common public of the country.
Official reports reveal that the Indian economy has become poorer by Rs.73 lakh crores as the amount has been lost in over 35 massive scams during the last 18 years. According to these reports India was rocked first by Harshad Mehta security scam of Rs.5, 000 crores. It was followed by Rs.1300 crore fertilizer import scam, Teak plantation scam of Rs.8, 000 crores, UTI scam of Rs..4800 crores, Scorpion submarine scam of over Rs.18,000 crores, Pune billionaire Hassan Khan tax default of Rs.50,000 crores and Satyam Scam of Rs.10,000 crores and Army ration pilferage of Rs.5000 crores.
The 2-G spectrum swindle of Rs.60, 000 crores and illegal money in Swiss Banks over Rs.71 lakhs have been considered the major setback to the Indian economy. In addition to this rice export scam of Rs.2500 crores, Orissa mine scam Rs.7,000 crores, Madhu Koda mining scam of Rs.4,000 crores, a cover-up operation involves a scam of Rs.60,000 crores and in the spectrum scam the Government lost Rs.60,000 crores.
Referring to these scams official sources said that had the Government been able to recover the entire scam money of Rs.73 lakh crores it could help the country in building 2.4 crore primary health centres, 24 lakh Kendriya Vidalayas, 14.6 crore low cost houses and over 2000 coal based power plants of 600 MW capacities each.
The money involved in the scams, if retrieved, could help the Government in constructing 14 lakh KM of two-lane highways, it would help the authorities in undertaking cleaning operations of 50 rivers with Rs.1200 crores being spent on each river. It could help the Government to give Rs.56, 000 to each Indian or Rs.1.82 lakh to 40 crore Indians living below the poverty line.
Interestingly the scam money is 27 per cent more than the country's GDP of Rs.53 lakh crores. Political and economic pundits say that despite these scams the centre and the state Governments have yet to adopt a foolproof mechanism which could prevent the country from bearing the burden of further scams in the future. They said that there was need for amending the relevant laws so that any agency or individual found involved in some scams immediate action was initiated and measures were taken to recover the entire money. They said that after the recent global recession India no longer can bear the pinch of scams. According to them just half a dozen scams of the size that took place during the last 18 years could paralyze Indian economy and as such the Government should keep its eye on all those agencies and officials that have the potential of resorting to unfair practice of minting money.
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