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Published: June 30, 2018 5:17:28 am
Swiss data with that of the rupee that falls to slam the government. (Bloomberg photo)
The 50% increase in Indian deposits in Swiss banks after three years of decline sparked a political standoff with opposition led by Congress, which explains that the Prime Minister Minister Narendra Modi must country on what happened to his promise to check the black money. The government responded by saying that it was not appropriate – or accurate – to badume that these deposits are all black money.
As The Indian Express reported today, the Rs 7000 crore parked by Indians in Swiss banks. 2017 was the year when remittances from the RBI's liberalized cash remittance program jumped nearly 39% in 2017-18. In addition, Rs 7000 crore is a fraction of Rs 44,500 crore parked by Indians in Swiss banks in 2006 – it is the second lowest figure for Indian deposits in Swiss banks over the last 12 years.
The Minister of Finance, Piyush Goyal has concluded a treaty with Switzerland under which the Swiss government will provide transaction data from January 1, 2018 to December 31, 2018. India will obtain data at the end of The accounting year, he said, is all black money or illegal transactions, he said. "We will have all the information … if anyone is found guilty, the government will take drastic action against them," he added.
In a blog, Union Minister Arun Jaitley said that only illegitimate deposits made abroad are subject to scrutiny. For illegal deposits outside of India, investigations are being conducted, arrests are being initiated and criminal prosecution is ongoing, he added, adding that Switzerland is about to disclose in real time It is therefore no longer an ideal destination for fraudsters. "Assuming that all deposits are money avoided in itself or that Switzerland's illegal deposits are what it was decades ago, it's starting on a tenuous presumption" said Jaitley. The leftist parties have combined Swiss data with those of the rupee that falls to slam the government.
The congress released a video showing the Prime Minister slamming the UPA government on the eve of the 2014 general election on the fall of the rupee and said that the prime minister was to answer questions that he asked. he had asked the UPA government. Congress President Rahul Gandhi tweeted that "in 2014, the Prime Minister claimed that he" would bring back all the black money in Swiss banks and put $ 15 million into every bank account Indian." In 2016, Gandhi badured that the demonetization "Black money and now he says that the leap of 50 percent in the deposits of the Swiss Bank is" white money. "
" While waiting for Bheep din BJP when the US dollar will trade for one dollar = Rs 40! "dig out of former finance minister P Chidambaram." Bravo! #DeMonetisation? Money theft from Swiss Bank. Losing India, "said West Bengal Chief Minister, Mamata Banerjee.
BJP ally, JD (U), said the increase in deposits of Swiss banks was a "serious concern." JD (U) KC Tyagi's spokesman said they were expecting that the demonetization, led by the Modi government in November 2016, will hit hard on the country. black money, "but the latest figures are very worrying."
CPI (M) Secretary-General Sitaram Yechury said that the increase in Indian deposits in Swiss banks was not a surprise since businessmen were fleeing India after looting public money under the supervision of Prime Minister Modi
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