Fin min on black money stash: Will share names with agencies, not public
October 17, 2014  18:41
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Finance Minister, Arun Jaitley, holds forth on  black money stashed away abroad. Jaitley says, "Double tax agreement signed by UPA but binding on us. The GoI sent three officials to have a discussion in Switzerland with Swiss officials.

"Govt's intention was to get information on people who have bank accounts in Swiss bank. The subject of negotiation was finding out details on Indians who have stacked money in Swiss accounts. Our hands are tied and we cannot violate the terms of the previous government.

"The govt says names cannot be made public, but can be shared with agencies. Sharing names will violate the double tax avoidance agreement," he says. 

In the run-up to the Lok Sabha polls, BJP spearheaded by Narendra Modi had promised to bring back black money kept by Indians in overseas bank and slammed UPA government for not taking effective action and accusing it of shielding the corrupt. After assuming power in May, the Modi government had pledged to fulfil its pre-poll promise.
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