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Wednesday, June 22, 2011

Concert - T.V. Gopalakrishnan (TVG)

Contibuted by Mr. Varadarajan Raju 
    ...that illness is not a sign of spiritual weakness, but of
    spiritual strength.

    When we fall ill there are some who will say, "Why
    did you create that for yourself?" They might convince
    you to see it as a sign of spiritual weakness or failure.
    It is not. It is a sign of spiritual strength.

    All challenges are a sign a spiritual strength, and of
    the readiness of the Soul to move on; to evolve even
    Blogger Varadarajan.R said...
    sir, why the name abaswaram ramji ??
    June 23, 2011 7:56 AM
    Blogger hvaidya said...
    Ramji, S/o Director K. Subramaniam was our close friend. He one day announced that he is going to start a music troupe. He told us"Oru nalla per sollungadaa" We shouted in chorus "Nee music troupe aarambikkaraya? Abaswarama illa irukkum !" He was always sportive and wanted to do something different. He said "Idhe nalla irukkudaa. Appadiye vaichudaren" and he was running a troup in this name. Subsequently he is the pioneer of creating many child geniuses in carnatic music as Ramji's Mazhalai chelvangal is history
    June 23, 2011 8:33 AM
    Blogger Varadarajan.R said...
    thanks for sharing the story sir.
    June 23, 2011 7:58 PM

    Why now is the right time to bring home the black money from tax havens abroad

    Thanks to Baba Ramdev, concern about vast quantities of black 
    money and illegal wealth of Indians stashed in tax havens abroad 
    has spread far and wide among the public in our country. 
    Suddenly Switzerland has become a suspect destination and tax 
    authorities have said they will monitor Indians travelling to that 
    country and other tax havens.

    The current rulers claim that they have done more than any 
    previous regime to deal with the issue of black money and 
    tax havens. They question the credibility of earlier governments 
    of V.P. Singh, Atal Bihari Vajpayee and others, and say that 
    they did not do anything.

    However, to set the record straight, there has been a sea 
    change in the international attitudes to the role of tax havens 
    prior to global financial meltdown of 2008 and after. While 
    earlier, there was a certain global indulgence towards them 
    as “innovative” financial centers, they have since 2008 come 
    under pressure from powerful Western countries such as USA 
    and Germany to cooperate in the investigation of money 
    laundering, tax evasion, and recovery of illegal wealth earned 
    through criminal and corrupt dealings. There is no more a climate 
    of tolerance towards illegal financial transactions, and due to 
    pressure from OECD and international agreements such as the 
    UN Convention Against Corruption, Switzerland and other tax 
    havens stand ready to share information and cooperate in the 
    repatriation of illegal wealth; this has already happened in the 
    case of Philippines, Peru and Nigeria, and only recently Swiss 
    banks froze the wealth in the accounts of Tunisia’s ousted 
    president and forty leading figures in his government.

    Also, we need to remember that whatever action being taken 
    by the present Government is due to prodding by the Supreme 
    Court based on a case filed by Ram Jethmalani and other 
    senior citizens and not out of its own volition.

    What has happened now?

    After the twin towers attack on 9/11 in the USA in 2001, 
    attention turned to the financing of international terrorism. 
    Around 2006 many countries in the West realized that 
    terrorists are using the tax havens for funding of arms 
    smuggling and terror financing. Because of the secrecy 
    provided by the banking system in these off-shore 
    jurisdictions, the terrorists were finding it easier to route 
    their funds through these locations. 
    Hence the functioning of the tax havens came under the radar 
    screen of the US and other Western countries.

    Then came the financial meltdown in US and Europe in the year 
    2008, from which these countries are yet to fully recover. The 
    meltdown impacted US after their sub-prime crisis wherein a 
    significant number of banks and other financial institutions had to 
    be saved by the Government. Later it spread to Europe with one 
    country after another facing severe economic crisis. This is 
    primarily due to lack of savings by households and consumption 
    in excess of savings. Crisis of such magnitude with significant 
    unemployment, made these countries look closely at the tax havens 
    since their rich citizens were evading taxes by stashing funds in 
    these locations. It is like a severe crisis in a family wherein members 
    desperately try to find some money under the rice box or inside 
    some old books!

    France and Germany were in the forefront of the fight against tax 
    havens. UK is a reluctant follower since UK has good number of 
    tax havens under its own protection. USA is also against its citizens 
    hiding money in these tax havens.

    Around late 2007 Germany obtained from an informant data stolen 
    from the LGT Bank of Liechtenstein and got information about 
    thousands of names having illegal money in that bank. The chief of 
    German Post had to resign since his name was there in that list. 
    The German foreign minister announced that he would share the 
    data with any other country interested. US, UK, Australia, and 
    many other countries showed interest and collected the data. 
    India was not interested. After much prodding by the leader 
    of opposition in Parliament that time namely, L.K. Advani, the 
    government approached German authorities and has been able 
    to obtain data on accounts held by Indians.

    Even after getting it the Government has not shown interest in 
    releasing the names. Presumably there are nearly 100 Indian 
    names. Government hides behind the double taxation treaty with 
    Germany when this data has nothing to do with that treaty since 
    it is about Indians illegally holding money in a third country bank 
    namely that of Liechtenstein.

    Thus, the global situation is conducive now compared to ten or 
    twenty years ago to deal with these tax havens. The main reasons 
    are concern about terror financing in USA and Europe and the 
    economic meltdown in developed economies which have made 
    these countries decide not to show any forbearance towards illegal 
    money stashed in these jurisdictions.

    So the contention that nothing was done by V.P. Singh, or by 
    P.V. Narasimha Rao or by Vajpayee is not meaningful since 
    in those days the global situation was not conducive to raise 
    issues about tax havens. Actually USA and Europe were praising 
    these tax havens and even calling them “innovative” financial 
    centers. Post 2008 the entire situation has changed.

    Hence the present is the most appropriate time to deal with this 
    issue and India should take a lead in the campaign to close all 
    these tax havens and create a new global financial architecture 
    based on transparency and integrity rather than on privacy and 

    R. Vaidyanathan is Professor of Finance in IIM-Bangalore


    Concert No 226 - Aruna Sairam

    1. Homagiridhanaye - Sudhdhadhanyaasi 
    2. Aanandhamruths - Amruthavarshini 
    3. Dasaradha raama - Yadukulakambodhi 
    4. Piravaa varam - Lathaangi  
    5. Madhura madhura - Ataanaa 
    6. Kaanbadheppo - Bilahari  
    7. RTP - Subapanthuvaraali  
    8. Sri sathyanaarayanam - Suba panthuvaraali 
    9. Kaakkai chiraginile - Brindhavana saaranga 
    10. Raagi thandheera - Punnaagavaraali 
    11. Muralidhara mohana - Desh  
    12. Abhang - Sunaadhavinodhini
    Courtesy: Sangeethapriya org.

    ..that enthusiasm is half of the journey to success, and
    all of the journey to joy.

    If you're going to do something, do it with gusto. Don't
    do anything half-heartedly. That dishonors the doing
    and the doer. So go for it. Hold nothing back. In life.
    Or love. Or anything at all.