The news that some of the leading lights of India figure in the PANAMA papers shows how the corruption has exponentially increased in liberalised Indian economy. Last year it was Swiss leaks, a global list with over 1100 Indians holding secret bank accounts in HSBC Geneva, which shaped the debate over black money parked overseas. Now it is Panama Papers. These papers, infact must shame the '" who is who" who have figured in the list and they must follow the example set by Iceland's Prime Minister. I would say that our Auditors and pliable IT officials who work hand in glove must also be punished severely. Though Govt of India has promised action following the revelations, one wonders whether there will be results at all. The fact of the matter is that the Govt is not that serious in putting an end to this menace of black money.It is evident from the progress the Special Investigation team constituted to look into the issue of black money has made till date. A Govt's amnesty scheme that was offered to Tax dodgers last year has met with lukewarm response while Finance Minister's warning of consequences, appear to have more sound than substance. The case of Vijaya Mallya, is one such example. Despite various acts such as Foreign Exchange Management Act, Prevention of Money Laundering Act, Prevention Corruption Act etc many seem to be able to spot the loopholes while we continue to remain cynical.
   If we see the Govts across the world, show no political will in retrieving black money stashed in tax heavens, as the leaders mostly rely on funding by money launderers to stay in power. It is shame that public personalities in politics, cinema, sports worshipped as " role models" are on lists of dishonour. I personally feel, the Panama Papers are a blow to the NDA, as its promise to bring the black money stashed abroad, remains unfulfilled. It  must be a cheerful news to the opposition, having another reason to stall parliament when needed. Infact the Govt having failed in getting back the promised "several lakhs of crores of rupees of black money" from abroad should atleast now try to redeem itself by acting in right earnest against the tax defaulters on Panama Papers list. If probe limited to a single Law Firm Mossack Fonseca could unearth black money worth fifteen hundred lakh crores of rupees, the total amount hidden in the tax heavens must be beyond any one's imagination. If one consortium of journalists could expose corruption to this extent, mightier Govts must be able to act against tax defaulters.
   Here again people have doubts on many things especially, knowing that Vinod Adani of Adani group, said to be close to the top echelons is among 500 Indians linked to tax heavens, while the others include Amitab Bachan, Aishwarya Rai etc. It was reported in some newspaper that India would have the privilege of getting Bachan as next President of India.
  But all said and done, these revelations are a chance for BJP, Govt to translate its promise of unearthing black money.
  For any effective investigation to take place, it is imperative to make the findings transparent and free from political influence. For this the Govt requires strong political will as there appear to be heavyweights on this list. The centre must also closely cooperate and coordinate with International groups to build a global network that cracks down on money laundering.