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Mumbai: Finance Minister Piyush Goyal said Tuesday that the amount deposited with the Swiss National Bank has been reduced by 80% between 2014 and 2017, according to a press report
Goyal, which answered a question about the black money deposited by the Indians on Swiss bank accounts, said that the government asked 4,000 information from Swiss banks and according to the data they receive, the Center will take measurements, India Today reported. data published by the Swiss National Bank, loans and deposits of individual Indians in the bank have decreased by 34.5% over the last year compared with the previous year: the Minister of Finance Piyush Goyal in Rajya Sabha pic.twitter.com/27wNkV85yy
– ANI (@ANI) July 24, 2018
M. Goyal said the news citing the 50% increase in the total liabilities of Swiss banks towards India in 2016-2017 are misinterpreted. "This includes liabilities without deposits, the activities of Swiss branches in India, interbank transactions, fiduciary responsibility," said Goyal, quoted by ANI .
In June, it was reported that the money was parked by the Indians In 2017, the Swiss banks increased by more than 50% to reach 1.01 billion francs (7 000 billion rupees), reversing the downward trend of the past three years due to the repression of black money suspected by India
. According to official annual data published on 29 June by the Swiss National Bank (SNB), the central banking authority of the Alpine nation, Swiss banks rose by around 3% to CHF 1.46 trillion or so 100 million rupees in 2017. [19659002InRajyaSabhalemembreduCongressesTrinamoolSukhenduShekharRoyeDemandedtofindcombining"silverbackwasdiscoveredunderthecordofthecordingswithSwitzerlandandatwhicheveryindianwouldrecover15millionthousandswheretheirbankingcounts
. The finance minister on Monday refused to share a copy of three reports on the amount of black money held by Indians inside the country and abroad, Goyal said. Disclosure would result in breach of Parliament's privileges.
The UPA government of the time commissioned these studies in 2011 from the National Institute of Finance and Public Policy (NIPFP) and the National Council for Applied Economic Research (NCAER) from Delhi. In response to a question from RTI, he indicated that the NIPFP, NCAER and NIFM study reports were received by the government on December 30, 2013, July 18, 2014 and August 21, 2014, respectively.
Piyush Goyal file image. GDP
The department stated that these reports were presented to the Standing Committee on Finance on July 21 and that the committee is now seized of the case
"Therefore, the disclosure of the information would result in an infringement of the privilege of the information sought is exempted from disclosure pursuant to section 8 (1) (c) of the ITR Act, "she said in response to the request of RTI filed by a correspondent PTI . The section prohibits information, the disclosure of which would result in a breach of Parliament's privilege.
At present, there is no official badessment of the quantum of black money in India and abroad. According to a study by the US think tank Global Financial Integrity (GFI), an estimated $ 770 billion of black money entered India between 2005 and 2014.
– With agency entries
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