Black Money – CBI endorses BJP’s stand

published on February 14, 2012

Press Statement issued by BJP National Spokesperson & MP Shri Prakash Javadekar

It is heartening to note that ultimately the CBI Director has practically endorsed what BJP is shouting from the roof top on the issue of Black Money for last more than 5 years. He has endorsed the estimate of black money stashed away in foreign banks at Rs. 25 lakh crores ($ 500 billion). This is important because the Govt. is consistently refusing to estimate the quantum of such a money stashed away. Now the Govt. have to come clean with precise estimate of such an enormous national loot. The CBI Director has also confirmed that Indians are the largest depositors of black money in foreign banks and also how such money is routed through Dubai, Singapore, Mauritius to various tax havens like British virgin island, Cayman Island etc. What is important is that the CBI Director also emphasized need of a relentless pursuit, ethics in Governance and the political will. This is tacit expression of displeasure of many officials in the Govt. who are frustrated with the UPA Govt’s approach in dealing with the black money issue.

Revelation of more than 1200 accounts of such black money stashed away in HSBC in Geneva have given the country its biggest black money trail.Â

Unfortunately, the Govt. is treating these accounts as just a tax evasion cases and not as a crime money. It  must be treated as stolen asset and the amount so deposited is channelising the unaccounted profits. What is worst is that the information about the Liechtenstein bank accounts was not processed with the seriousness it warrants. This information has not come to India because of any Govt. effort. It came as a windfall but the Govt. wasted the opportunity to go whole hog in these cases. Even the Govt. entered into the international treaties on prospective basis to secure information. This shows clearly that the Govt. is not interested in tackling this issue and bring back the black money stashed away.

BJP demands that Govt. should act tough and with required speed to unearth this stolen wealth of the country and bring the culprits to the book by launching criminal proceedings. BJP reiterates its demand that the names of 1200 account holders of HSBC bank be made public immediately.

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