No one physically carries the black money abroad: Jaitley
November 26, 2014  19:05
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Finance Minister Arun Jaitley responding to the black money debate in the Rajya Sabha.

Ten takeaways from what he has just said.

1. We took over half done job from UPA. We want the black money to be brought back. It is everyone's wish that money siphoned off be brought back.

2. Issue is not whether to disclose these names or not, issue is when to disclose it.

3. Govt has identified holders of 427 accounts abroad, notices have been sent to them.

4. Out of these HSBC cases (627), we have been able to trace and identify about 427, we are giving notices to most of them.

5. At least 250 account holders have admitted to having accounts abroad. In the next few weeks, more prosecution cases will be filed; once the cases go for prosecution, names will become public.

6. The offence is committed in India and the money is Indian. The evidence is outside Indian shores. No government can march its police or investigating officers to another country. There is a prescribed procedure.

7. If we disclose the names publicly in a press conference without evidence, that will be a one-day thrill.

8. UPA government didn't want Supreme Court to give any orders on this issue. Forming SIT was our first decision.

9. In this age, no one physically carries the black money abroad. Some take it through Hawala and other ways.

10. Names will become public when prosecution begins.
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