Black money stashed abroad: Jaitley says can’t disclose names
NEW DELHI: After the government toed the UPA
government’s line in the Supreme Court, Finance Minister Arun Jaitley on Friday
blamed the agreement entered into by the Congress government with Germany in
1995 as a constraining factor in disclosing details of black money stashed
He rejected the charge that the Modi government was
reluctant to part with information about the names of persons having black
“Is the present NDA government led by Modi in any way
reluctant to make some names public? Certainly not. We have no difficulty in
making names public. But they can be made public only in accordance with due
process of law.
“And the due process of law has been constrained by
DTAA (Double Taxation Avoidance Agreement) which was entered into between India
and Germany when the Congress Party was in power on June 19, 1995,” he told
Earlier in the day, Congress had slammed the Modi
government for refusing to disclose the names of persons having black money
accounts to the Supreme Court.
“This is not only a hiatus between the words and deeds
of BJP, but sheer hypocrisy and dishonesty with the public of India. Modi
government’s functioning is defined in the hiatus between speech and reality
and action and words.
“One wonders whether his black money rhetoric was
meant for pre-election audience,” Congress spokesman Abhishek Singhvi said at
an AICC briefing.
The Narendra Modi government, which had promised to
bring back black money stashed by Indians in foreign banks, toed the line of
UPA regime by informing the Supreme Court that it cannot disclose such details
given by countries with which India has double taxation avoidance agreement (DTAA).
In the run-up to the Lok Sabha polls, BJP spearheaded
by Narendra Modi had promised to bring back black money kept by Indians in
overseas bank and slammed UPA government for not taking effective action and
accusing it of shielding the corrupt. After assuming power in May, the Modi
government had pledged to fulfil its pre-poll promise.
Elaborating further Jaitley said, as per the DTAA, “the
names can only be made public once after investigation, there are disclosures
made to court, that is when charges are filed. Till such time when the
investigations are on, merely for reasons of propaganda they can’t be made
Finance Minister Arun Jaitley said Switzerland has
agreed to share information on Indians having illicit money in Swiss banks on
independent evidence provided in each case to the Alpine nation. Besides, the
Swiss government would “confirm the genuineness or otherwise” details of
foreign accounts of Indian citizens procured by intelligence agencies, Jaitley
Talking to reporters here, the Finance Minister said
Switzerland has agreed to share information related to HSBC and Liechestein
lists, provided there is independent evidence collected by Indian authorities.
“The Government of India is taking all necessary steps
to access tax-related information from foreign governments... Black money
stashed abroad will be brought back,” he said.