Book Review : Black Money

 The idea about a book on Black money took birth while media was full of reports about money kept in Swiss banks and other tax havens. The reports became more focussed when Indian Government received a list of Indians holding accounts abroad particularly in the Geneva branch of the H.S.B.C bank from the French Government. Many NGO groups also gave some estimates about the money kept by Indians abroad. The main opposition party BJP was very vocal in demand for taking action against those holding illegal accounts in foreign banks. 

In India it is no secret that black money plays a major role in national economy particularly in sectors like real estate where not many transactions are complete without use of black money. The focus of the book, however, is different it does not aim at making any attempt to find out how black money is parked or stored instead it looks on how it is generated. It points out how every citizen even the honest ones who while making day to day purchases help in generating black money by not insisting on a bill or cash memo.

The book also suggests that instead of killing the messenger let us attack the sources which help in generating black money. In this context it points out how counterfeit and smuggling are growing world-wide and are hurting national economies including India and in turn financing anti-national activities like terrorist activities, criminal gangs and Mafia. 

Beside the auther, the book includes contributions by experts like Mr P.C Jha , former Chairman of Central Board for Excise and Customs, Mr Deep Chand Special Commissioner of police, Delhi, retired, Ms Vandana Jain of GSI, Mr Bejon Misra, Founder –Consumer on-Line Foundation, Mr Anil Raput , Chairman, FICCI CASCADE and Ms Orchie Bandyopadhyay 

The book also speaks about how technology can help in checking sale of counterfeit items to consumers particularly in the field of medicines. How use of bar code on packaging can help consumers to check if the medicines he is buying are genuine or fake. More and more industries are becoming aware of the fact that they have a responsibility to check sale of counterfeit items and are willing to use technology to make counterfeit difficult if not impossible. 

The Ministry of Consumers Affairs is also undertaking a publicity drive to create consciousness about their rights. The among Consumers protection Act is also being amended to make it more friendly and easy to use by registering complaints on line. FICCI Cascade, a body set up by FICCI is running a regular campaign against counterfeiting and smuggling by bringing industry on a common plateform to fight this menace. The Committee is working in close collaboration with Ministry of Consumer Affairs. 

Ficci Cascade is trying to involve the youth in this campaign by organising debates, drama contests and painting competitions for school children with campaign against counterfeiting and smuggling as a theme. It is also organising seminars on the subject in State capitals to study the situation on ground and to create awareness. Such seminars have been held in Lucknow, Jaipur, Srinagar, Ahemedabad and Bhopal. It hopes to cover all the State capitals. 

The seminars in States is helping in throwing light on problems faced by them in meeting the menace of counterfeiting and smuggling. For instance in Kashmir problem is created by fake handicrafts like shawls, walnut wood furniture and other items. In Jaipur problem relates to sub-standard gold ornaments and trade in precious stones. In U.P and Madhya Pradesh sale of smuggled tobacco products is posing a serious challenge to legitimate industry and depriving Government of its revenue. 

The author, Mr. Brij Bhardwaj, is a veteran journalist, who has served leading newspapers in various capacities.