The Conscious Indian Show

An offshore data tsunami

The Pandora Papers’s 11.9 million records arrived from 14 different offshore services firms in a jumble of files and formats – even ink-on-paper – presenting a massive data-management challenge

By Emilia Díaz-Struck, Delphine Reuter, Agustin Armendariz, Jelena Cosic, Jesús Escudero, Miguel Fiandor Gutiérrez, Mago Torres, Karrie Kehoe, Margot Williams, Denise Hassanzade Ajiri and Sean McGoey

October 3, 2021

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A2.94 terabyte data trove exposes the offshore secrets of wealthy elites from more than 200 countries and territories. These are people who use tax and secrecy havens to buy property and hide assets; many avoid taxes and worse. They include more than 330 politicians and 130 Forbes billionaires, as well as celebrities, fraudsters, drug dealers, royal family members and leaders of religious groups around the world.

The International Consortium of Investigative Journalists spent more than a year structuring, researching and analyzing the more than 11.9 million records in the Pandora Papers leak. The task involved three main elements: journalists, technology and time.

What is the Pandora Papers?

The Pandora Papers investigation is the world’s largest-ever journalistic collaboration, involving more than 600 journalists from 150 media outlets in 117 countries.

The investigation is based on a leak of confidential records of 14 offshore service providers that give professional services to wealthy individuals and corporations seeking to incorporate shell companies, trusts, foundations and other entities in low- or no-tax jurisdictions. The entities enable owners to conceal their identities from the public and sometimes from regulators. Often, the providers help them open bank accounts in countries with light financial regulation.

Sri Lanka’s government declared an economic emergency last week amid rising food prices, a depreciating currency, and rapidly depleting forex reserves. President Gotabaya Rajapaksa has called in the army to manage the crisis by rationing the supply of various essential goods.

Refined white sugar is now an integral part of the Indian diet, driven by a swift increase in the consumption of packaged and processed food. The fallout: the paradox of childhood obesity in a country that is still battling malnutrition. Young children, particularly in urban areas, are already battling a host of so-called lifestyle illnesses including dental caries, fatty liver and obesity-induced diabetes, say doctors and nutritionists.

The conclusion of the Tokyo Olympics 2020 brought immense joy to the nation. India won its first gold medal in track and field events of the Olympics. A total of 7 medals were won, which marks India’s best score at the Olympics. However, despite this, India finished 48th in the event. Whereas Japan, with a far less population, came 3rd on the leaderboard.  

Thus, it shows that with the right guidance and hard work, it is not impossible for India to compete against countries like the US and China. The government and the private sector should come forward to support the sportspersons and breed robust sports culture in India.

India completed one year of the National Education Policy (NEP) 2020 on July 29. The policy was revised after 34 years to meet the changing needs of Indian and international education standards.

The Periodic Labour Force Survey (PLFS) data show that the amount of work available for workers in India reduced substantially in the period coinciding with the national lockdown during the first COVID-19 wave. Underemployment was more pronounced in the urban parts compared to the rural areas. In April-June 2020, about 26% of urban employees worked for 36 hours or less a week compared to the 13% a year earlier. The decrease in the available hours of work was recorded across India, with very few exceptions.

Presently, India’s population stands at nearly 134 crore. According to the UN Department of Economic and Social Affairs estimates, India’s population will reach 1.5 billion by 2030. Further, the population will hit 1.64 billion in 2050. This would make India become the largest populous country, overtaking China. To prevent that India introduced population control measures.

Apart from the Central government, many states also announced population control measures. A new draft Bill prepared by the Uttar Pradesh (UP) Law Commission seeks to control the population by introducing a two-child policy.

Blockchain data platform Chainalysis says crypto investments in India have grown some 200-fold in the past year, from about $200 million to nearly $40 billion.

Prime Minister Narendra Modi has been repeatedly emphasising on ‘One Nation, One Election’ as a necessity for development. There is an election in India almost every month — Madhya Pradesh , Manipur and Bihar, among other States, had elections recently — which involves a lot of money. Modi has asked the presiding officers of elected bodies to ponder over the idea of having one election and one voters’ list.

After the passing away of Pandit Jawaharlal Nehru, India’s political spectrum turned murky. Elected representatives became victims of greed for money and power. Assured of a fixed tenure by getting elected, they started bargaining for power and pelf. Crossing over parties became the norm.

Did you know that the world is completely ignorant of 99.9 per cent of the potential zoonotic viruses, despite the mounting threat and growing cases of debilitating pandemics like Covid-19? Did you know that India is ranked 117 among 192 nations with respect to sustainable development - behind all South Asian nations except Pakistan? Or that 160 species have gone extinct over the last decade (2009-2019)?

India's most credible yearly survey of the environment is here, once again. State of India's Environment 2021, a Down To Earth annual publication, brings you all this and more. With subjects ranging from Forest, Climate Change, COVID and Biodiversity to Industry, Waste, Habitat, Water, Air Pollution, Renewable Energy and Rural Development, besides a comprehensive data-based analysis of how India's states are faring on sustainable development goals.