National
‘Paradise Papers’ shows note ban didn’t end black money: CPI-M
New Delhi, Nov 9 (IANS) The revelations in “Paradise Papers” of how the super rich stash their wealth abroad “effectively debunks the myth of the Modi government’s fight against black money”, the CPI-M has said.
“It has underlined the absurdity of the claim that demonetisation has neutralised black money,” said an editorial in the CPI-M journal “People’s Democracy”.
“The generation of black money, the conversion of it into assets abroad, money lending and round-tripping — are all revealed by the Paradise Papers. The fact is demonetisation has not made even an iota of difference to this process which goes on unhindered.”
The editorial said the Modi government had announced that the multi-agency group set up to look into the earlier ‘Panama Papers’ list of entities would also probe the details of Indian entities provided by the Paradise Papers.
“What this means is that some of the income not disclosed by those in the list will be subject to taxes and penalties. Nothing more.
“The structure of setting up companies in the tax havens, shifting funds to them and money laundering of black money will not be investigated, or, questioned. Doing so would mean having to challenge financial investors and the very structure of predatory finance capital.”
The Paradise Papers are a set of 13.4 million leaked financial documents from two companies based in Bermuda and Singapore which helped multinationals and the super rich to move their wealth to tax havens. The list includes 714 Indian entities and individuals.
The Communist Party of India-Marxist said what was needed were strong measures to prevent the use of tax havens which were allowed as legitimate business activity.
“Suitable laws and a regulatory framework have to be put in place to penalise offenders and plug all loopholes by which tax evasion is made possible. Confiscation of assets of those found guilty will act as a deterrent.
“To expect the Modi government, however, to do all this would be naive. This is a government at the service of corporate and international capital,” the editorial said.
The CPI-M underlined that what the Paradise Papers revealed were not an aberration from how finance capital operates.
A report in September, co-authored by economist Gabriel Zucman, estimated that 10 per cent of global GDP or $7.8 trillion was held offshore. According to Zucman, 600 billion Euros of MNC profit was shifted to offshore havens in the last year alone.
“The super-rich and big corporates evade paying taxes in this manner depriving the countries of tax revenue which goes towards schools, hospitals and social welfare for its citizens. That this is legally permissible does not make it less ugly,” the editorial said.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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