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RIL AGM

Sunday, August 31, 2008

Is India Ppoor, Who Says? Ask Swiss banks

MERA BHARAT MAHAN…
INDIA SHINING…
NO 1 IN CORRUPTION…

Source:merinews


Is India poor, who says? Ask Swiss banks
With personal account deposit bank of $1500 billion in foreign reserve which have been misappropriated, an amount 13 times larger than the country's foreign debt, one needs to rethink if India is a poor country?.

DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $ 1500 billion, which have been misappropriated by them. This amount is about 13 times larger than the country's foreign debt. With this amount 45 crore poor people can get Rs 1,00,000 each. This huge amount has been appropriated from the people of India by exploiting and betraying them.

Once this huge amount of black money and property comes back to India , the entire foreign debt can be repaid in 24 hours. After paying the entire foreign debt, we will have surplus amount, almost 12 times larger than the foreign debt. If this surplus amount is invested in earning interest, the amount of interest will be more than the annual budget of the Central government. So even if all the taxes are abolished, then also the Central government will be able to maintain the country very comfortably.

Some 80,000 people travel to Switzerland every year, of whom 25,000 travel very frequently. "Obviously, these people won't be tourists. They must be travelling there for some other reason," believes an official involved in tracking illegal money. And, clearly, he isn't referring to the commerce ministry bureaucrats who've been flitting in and out of Geneva ever since the World Trade Organisation (WTO) negotiations went into a tailspin!

Just read the following details and note how these dishonest industrialists, scandalous politicians, corrupt officers, cricketers, film actors, illegal sex trade and protected wildlife operators, to name just a few, sucked this country's wealth and prosperity. This may be the picture of deposits in Swiss banks only. What about other international banks?

Black money in Swiss banks -- Swiss Banking Association report, 2006 details bank deposits in the territory of Switzerland by nationals of following countries:

Top five

India---- $1,456 billion
Russia ---$ 470 billion
UK -------$390 billion
Ukraine - $100 billion
China -----$ 96 billion

Now do the maths - India with $1456 billion or $1.4 trillion has more money in Swiss banks than rest of the world combined. Public loot since 1947: Can we bring back our money? It is one of the biggest loots witnessed by mankind -- the loot of the Aam Aadmi (common man) since 1947, by his brethren occupying public office. It has been orchestrated by politicians, bureaucrats and some businessmen. The list is almost all-encompassing. No wonder, everyone in India loots with impunity and without any fear.

What is even more depressing in that this ill-gotten wealth of ours has been stashed away abroad into secret bank accounts located in some of the world's best known tax havens. And to that extent the Indian economy has been stripped of its wealth. Ordinary Indians may not be exactly aware of how such secret accounts operate and what are the rules and regulations that go on to govern such tax havens. However, one may well be aware of 'Swiss bank accounts,' the shorthand for murky dealings, secrecy and of course pilferage from developing countries into rich developed ones.

In fact, some finance experts and economists believe tax havens to be a conspiracy of the western world against the poor countries. By allowing the proliferation of tax havens in the twentieth century, the western world explicitly encourages the movement of scarce capital from the developing countries to the rich.

In March 2005, the Tax Justice Network (TJN) published a research finding demonstrating that $11.5 trillion of personal wealth was held offshore by rich individuals across the globe. The findings estimated that a large proportion of this wealth was managed from some 70 tax havens.

Further, augmenting these studies of TJN, Raymond Baker -- in his widely celebrated book titled 'Capitalism' s Achilles Heel: Dirty Money and How to Renew the Free Market System' -- estimates that at least $5 trillion have been shifted out of poorer countries to the West since the mid-1970.
It is further estimated by experts that one per cent of the world's population holds more than 57 per cent of total global wealth, routing it invariably through these tax havens. How much of this is from India is anybody's guess.

What is to be noted here is that most of the wealth of Indians parked in these tax havens is illegitimate money acquired through corrupt means. Naturally, the secrecy associated with the bank accounts in such places is central to the issue, not their low tax rates as the term 'tax havens' suggests. Remember Bofors and how India could not trace the ultimate beneficiary of those transactions because of the secrecy associated with these bank accounts? IS THERE ANY ONE WHO WOULD SAVE INDIA ?God... No No No, even he can't....... ....!!

Friday, August 1, 2008

3G TECHNOLOGY – THE RING TONE OF A REVOLUTION

The mobile phone is all set to become the most important gadget, if it has not already become so! If you thought that sending SMSes and listening to music on the mobile or checking your email on the Blackberry meant that you had “arrived” in life, just wait till the third generation technology or better known as the 3G technology takes over India soon.



Today afternoon, the telecom minister, Mr.A. Raja announced the most eagerly awaited norms of 3G and what emerged clearly is that MTNL would be the biggest gainer.



Over the next few days, there would be a lot of talk about this 3G technology and hence, to understand what people are talking about and understand where India’s mobile telephony is leaping ahead, it is first important to understand what this 3G is all about. So let’s get the basics clear.



What is 3G?

3G is the third generation of mobile phone standards and technology, superseding 2G and preceding 4G. It will enable network operators to offer a wider range of more advanced services like wide-area wireless voice telephone, video calls and broadband data in a mobile environment. Right now, the mobile phones we use help us make and receive calls, send SMSes and MMSes, there is internet too but at a snails pace, ditto for music downloads. This is because, the current mobiles work on a very narrow bandwidth and 3G would mean a very high bandwidth, giving us very high wireless speeds. Its like this – when the pipe is small, water will come out in a trickle but when suddenly the diameter of the pipe is increased from 10mm to 50mm, can you imagine how the water will rush out? That in short is what 3G would mean.



What prevented us from using 3G till now?

The usage of 3G needs a very high bandwidth and that spectrum needed to be freed from the defence sector. Our defence sector has agreed to give more allocation and hence based in that assurance, we can now go ahead with 3G.



Which are the other countries which use 3G?

Japan was the first to adapt 3G and this was followed by South Korea. It is today available in a number of countries like Italy, UK, Australia, Austria, Singapore, Canada and US among others. It accounts for close to 7% of mobile service population. Countries such as Turkey, China, Indonesia, have not awarded 3G licenses and customers await 3G services. China has been delaying its decisions on 3G for many years, partly hoping to have the Chinese 3G standard, TD-SCDMA, to mature for commercial production. So here too, we may be able to trudge much ahead of China!



How will 3G change things for us?

It will revolutionise the way we use the mobile phones. Once we get onto the 3G, we will be able to transmit text, digitised voice, video, and multimedia data at rates up to 2Mbps in a fixed or stationary wireless environment, and 384kbps in a mobile environment. You can watch movies directly from the internet on your mobile and get it connected to your TV. Video conferencing will now be possible on the mobile phone and IPTV would become as easy as talking on the phone.



All cannot be roses and peaches. What are the thorns which one can encounter in 3G implementation?

For India, implementation is in itself a big challenge. For companies, implementing this technology would entail a huge amount of capital expenses. Even in the developed countries, where the technology has been implemented, many telecom companies are sitting on large amounts of debt, making it a big challenge to build the necessary infrastructure for 3G. There would be other challenges like expensive input fees for the 3G service licenses.

For the man on the street, 3G will be an expensive service. More importantly, the mobile phone which we use today, is based on 2G technology and if we decide to upgrade to 3G, we may have to buy a new mobile phone too. Don’t be surprised to see new launches of mobile phones over the next few months, touting 3G technology. Also, coverage could be spotty as it is still a new service. Also the power usage is also very high, so when you buy your new 3G phone, be sure to check on the battery life and re-chargeability.





NEW NORMS FOR 3G

Ø Government would invite global bids for the 3G spectrum



Ø Five operators will be allotted the 3G spectrum as of now and five more operators are expected to be allotted the spectrum on a later date.



Ø BSNL, MTNL would be allotted one slot of the 3G spectrum today.



Ø Currently 60 Mhz of the 3G spectrum is available and of the five, three slots of the 3G spectrum would be allotted to CDMA players.



Ø Only 2-3 operators would get the 3G spectrum in Mumbai and Delhi.



Ø Reserve price for Pan India 3G Auctions would be Rs 2,020 crore. The price for a 25 Mhz block of spectrum for Mumbai and Delhi and category-A shall be Rs 160 crore and for Kolkata and category-B Rs 80 crore and for category-C Rs 30 crore.



Ø Rollout obligation of the 3G would be the same as that of the 2G spectrum.



Ø 3G-spectrum fee is to be 1% of the adjusted gross revenue from the second year and there would be no annual spectrum fee for the 3G auction in the first year.



Ø Auctions to be completed in two months. Bid winner could get 20 Mhz of spectrum for broadband.



Ø Guidelines for Mobile Number Portability also released and this proposes dividing the country into two zones for implementing the scheme that is prevalent in most mature telecom markets.