Campaign against black money to be taken forward: Prez

The Narendra Modi government will take forward the campaign against black money at a faster pace and make the zero-tolerance policy against corruption more comprehensive and effective, President Ram Nath Kovind said on Thursday.

In his address to the joint sitting of both houses of Parliament in the historic Central Hall, Kovind also said the government's objective of minimum government-maximum governance will be further emphasized.

"The campaign against black money will be taken forward at a faster pace. During the last two years, 4 lakh 25 thousand company directors have been disqualified and the registration of 3 lakh 50 thousand suspicious companies has been revoked," Kovind said in his customary address after the formation of the 17th Lok Sabha.

The president said the 'Fugitive and Economic Offenders Act' has proved effective in controlling fugitive economic offenders.

"Now we are receiving information in this regard from 146 countries, including Switzerland. Of these, we have concluded agreements with 80 countries for automatic exchange of information," he said.

Kovind said India is now receiving information about all those who have stashed black money abroad.

"My government will make the zero-tolerance policy against corruption more comprehensive and effective. The mission to eliminate corruption from public life and government services will be implemented with greater zeal," he said.

The President said the use of technology will be maximized to reduce human interface and the appointment of Lokpal will also promote transparency.