Govt wakes up on black money issue after SC rap
Day after the government came under attack from the Supreme Court over black money stashed abroad, several Ministers today voiced concern over the issue at the Union Cabinet meeting here but Prime Minister Manmohan Singh made it clear that the details could not be disclosed.
The Ministers noted that the government was facing the flak from virtually all quarters and the impression was gaining ground that the government had something to hide on the issue, sources said.
At the meeting, Singh pointed out that the government could not disclose the names about whom it had information regarding accounts in foreign banks as it was bound by various treaties.
Finance Minister Pranab Mukherjee said the government had received information about the black money accounts in foreign banks as per international treaties and if this is revealed, no government would share such details in future, the sources said.
It was emphasised that the information was shared purely for taxation purposes and the government intends to do the same without making public the names of account holders or other details, the sources said.
Mukherjee said he would soon hold a press conference to clear the air on the issue.
The Supreme Court yesterday pulled up the government for witholding information on black money stashed in foreign banks, saying it is not just limited to tax evasion but a 'mind boggling crime' amounting to 'theft' and 'plunder' of national wealth having security ramifications.
Hours later, the Prime Minister said 'some information' about black money accounts had been provided to India 'for use in the collection of due taxes. We cannot use the information for any other purposes and that information cannot be made public' as the country cannot violate the obligations under international treaties.
Post new comment