Govt unearths $12.3 billion unaccounted money: Pranab Mukherjee

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  1. SpArK

    SpArK SORCERER Senior Member

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    Govt unearths $12.3 billion unaccounted money: Pranab Mukherjee



    NEW DELHI: Indian tax authorities have unearthed $12.3 billion (Rs 660 billion) of unaccounted money, the finance minister told Lok Sabha on Wednesday, as part of the government's efforts to curb tax evasion.


    Pranab Mukherjee was replying to a debate on illicit funds or black money in the Lok Sabha.


    Mukherjee also said the government had signed agreements with 60 countries to share information about tax evasion and was in the process of signing agreements with 15 more nations.




    Govt to issue White Paper on black money



    White paper will be issued on black money, finance minister Pranab Mukherjee announced in the Lok Sabha on Wednesday while disclosing that government has received 36,000 'pieces' of information with regard to Indian account holders in banks abroad.


    However, Mukherjee rejected Opposition demand for making public the information received, saying it would violate the agreement with foreign countries and also "dry up our source of information".



    He was replying to a spirited debate on adjournment motion on black money moved by BJP leader L K Advani which was later defeated by voice vote. Samajwadi Party staged a walkout.


    Dismissing the Opposition charge of "inaction" or "lagging behind", he said, the government was pursuing the information regarding the illegal accounts abroad rather than publicising details as the account holders could even withdraw money.


    "I have got 36,000 pieces of information. If I publish it some country will say you violated the agreement...we cannot share it. If we publish the names then they will withdraw the money," he said.


    "Should I publicise or go and seize it? How is intelligence collected? There is an element of surprise," he said.


    The minister made it clear that names of MPs did not figure in the information he had received from abroad.


    He said revised tax treaty with Switzerland has come into force and would enable India to procure banking details with effect from April 1, 2011.






    Govt unearths $12.3 billion unaccounted money: Pranab Mukherjee - The Times of India
     
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  3. agentperry

    agentperry Senior Member Senior Member

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    The minister made it clear that names of MPs did not figure in the information he had received from abroad.

    and with this all mps took a relaxed breath.
    i was watching a debate between bjp and congress guy in which congress guy said that they had sent the list of names of the people involved in black money laundering to supreme court and also the copy of the international agreement that the names of those involved will not be disclosed, SC returned the envelop back to ministry without opening it and said that we abide by the treaties

    :facepalm:
     

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