Not enough being done to bring black money back: Swamy

Not enough being done to bring black money back: Swamy

Not enough being done to bring black money back: Swamy

Senior BJP leader Subramanian Swamy today said he had written to the Prime Minister Narendra Modi suggesting ways to bring the black money back, and the present measures were not enough.

"I have written a letter to the Prime Minister on how we can bring it back. But our Finance Minister (Arun Jaitely) is a lawyer who says this is not right or that is not right," Swamy said, speaking at an event organised by the Gujarat Chamber of Commerce and Industries (GCCI) here.

"Whatever should have been done by now has not been done. But it will be done soon, because Prime Minister Modi's patience has some limits, and today he spoke on the issue. I have trust," he said.

"Whatever is happening at present, it will not serve the purpose. The latest bill on black money is only a tax evasion punishment bill.... This bill is necessary but there is no reason to think that only this bill will do everything. Whatever is being done in Parliament will not get the black money back," he said.

He said there were four ways of getting the black money back. The first was to get a letter rogatory from local court to a court in foreign country, which can then ask the bank there to investigate the account.

But if the foreign bank does not cooperate, Swamy suggested that we must adopt "German and French" way, using the intelligence agency to "trap" top officials of the bank and bribe him to reveal details of shady accounts.

India can also use "American way", by coercing the local representatives of foreign banks into revealing the details by booking them under espionage laws, he said.

"Narendrabhai can do that. Hold them, push them in the jail, they will give the names," Swamy said.

The fourth way, he said, was to "pass a law that the 70 banks, where the black money of any Indian citizens is kept, has to be declared nationalised and we can demand the black money from it and as per a UN resolution they will have to give us back," he said.