International transactions will be transparent by 2017: Jaitley

Arun Jaitley also asked Enforcement Directorate to avoid overkill and ignore trivialities. Union Finance Minister Arun Jaitley on Friday said “Rupee has kept pace with the dollar in last few months.”

Mr. Jaitley, when asked about the black money issue, said “Need law to prevent money laundering; target is to make all international transactions transparent by 2017.”

Mr. Jaitley clarified that “New law on undisclosed income and assets abroad to be taken up in Parliament next week.”

He also asked Enforcement Directorate to avoid overkill and ignore trivialities.

Mr. Jaitley cautioned “Serious offenders should be brought to book; 121 prosecution cases filed against those caught with black money abroad.”