Advani hits government on black money issue

L-K-AdvaniNDA working chairman L K Advani has raised concerns over the dismal response of Congress-led UPA Government on the issues of black money and corruption. He raised a national campaign on these two issues.

He accused the government for not revealing anything related to black money issues whereas government persistently claims that they have nothing to hide.

Supreme Court has also shown concern with this regard and the apex court had asked government to reveal the names of those Indians who have stashed their money in the foreign banks. However government is not willing to disclose the names.

Advani said that earlier also he has raised the issue of black money in 2009 but nothing substantial was done by the government to bring back the black money from foreign banks.

German government has revealed the list of Indians having accounts in German banks but it seems that Indian government is not interested to know the names of high net worth Indians, who have probably escaped taxes.

He also said that India is world's largest republic and our government should do something which makes every Indian proud of being an Indian.

As far as hearing on the black money issue is concerned the hearing will take place at the backdrop of the government ruling out disclosure of names of the account holders.

Finance Minister Pranab Mukherjee said that government cannot violate secrecy laws and cannot disclose information received from foreign entities on black money stored by Indians in the foreign banks. He also said that such disclosure will result in the fall of government. No sovereign country can disclose such information in the absence of any legal framework.

Pranab Mukherjee had arranged a press conference on Tuesday where he said that Centre may announce a tax amnesty scheme to bring back black money hoarded abroad. He also projected a rough estimate of $450 billion and $1.5 trillion is in these accounts.

On the issue of black money, SC said that people are hoarding money in foreign banks just to avoid taxation and it is nation's money which should be brought back. It is not only a theft but a mind-boggling crime.