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Black money: Swamy and Jethmalani unhappy with govt's approach

New Delhi: Experts and activists have expressed dissatisfaction over government's slow approach towards getting back black money to India.BJP leader Subramanian Swamy said he was still optimistic that the Modi government would succeed in bringing

India TV News Desk [ Updated: February 20, 2015 15:03 IST ]
black money swamy and jethmalani unhappy with govt s
black money swamy and jethmalani unhappy with govt s approach

New Delhi: Experts and activists have expressed dissatisfaction over government's slow approach towards getting back black money to India.

BJP leader Subramanian Swamy said he was still optimistic that the Modi government would succeed in bringing back black money. 

He specially pointed towards the Double Taxation Avoidance Agreements (DTAA) which was not helping India in detecting or repatriating black money.

He recommended that India should either adopt tactics of countries like Germany and France, and offer incentives to whistleblowers who reveal details of account holders who evade tax or it should follow US which has acted tough with banks that facilitate people to hold money in tax havens.

 Ram Jethmalani also confided in Narendra Modi and said that he has no doubt that Modi intends to bring back black money back to India however, he was impatient about the pace at which the matter was progressing.

As published in a report of Times of India, Professor Arun Kumar of JNU said something like $1.2 trillion of Indian money had gone abroad over the years.

He said that SIT on black money will give results only if Supreme Court will remain proactive in monitoring the issue.

He added that so far official agencies have not made efforts to get black money back.

According to him, the new government should publicize the names of illegal account holders in foreign banks, something that was done by the International Consortium of Investigative Journalists.

He added, “The government has not shown any inclination to get black money back.”

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