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By Express News Service
NEW DELHI: A day after it was reported that money parked by Indians in Swiss banks rose 50 percent to Swiss Franc 1.02 billion in 2017, Finance Minister Piyush Goyal said that not all the money is black. He has taken the plea of lawful action if any wrongdoing is revealed.
"Under an agreement signed by the Modi government with Switzerland, all this data from the period January 1, 2018, will be made available to us," Goyal told reporters on the sidelines of an event organized by Institute of Cost Accountants of India (ICAI).
In November last year, the government has signed an agreement for automatic exchange of information with Switzerland, global standards 2018 and exchange it from 2019.
READ | Information on Swiss Bank deposits to be available from 2019: Interim Finance Minister Piyush Goyal
However, Goyal badured that the ministry will look into the deposit list and will initiate action against the wrongdoers.
"If there is any wrongdoing revealed, we will take action. With the various measures taken by this government against black money, Swiss bank deposits have been decreasing, "Goyal said.
Earlier reports said that Indian money in Swiss banks had fallen by 45 per cent in 2016, which the government had been claiming Clamp on black money. This is a reversal of a trend when the center is already facing the backdrop of the country. It is a year to face general elections.
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This may turn to the rule of law, but it has already taken measures like the Benami Act, the enactment of Black Money (Undertaken Foreign Income and Assets). Imposition of Tax Act-2015, and the Income Declaration Scheme in 2016 to tackle the issue.
Arun Jaitley, the Minister of Arbitration . "Those who participate in a public discourse must understand these basic facts before expressing an opinion, which may be ill-informed. To badume that all deposits are tax-evaded money or that it is supposed to be a shaky presumption, "the blog said.
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