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Black money information can't be made public: PM

Wednesday January 19, 2011 08:04:21 PM, IANS

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New Delhi: Prime Minister Manmohan Singh Wednesday made it clear that information on black money stashed in tax havens abroad can't be made public as it will entail violations of its treaty obligations.

"The information will not be made public. It will be a violation of the treaty," Manmohan Singh told reporters when asked about the government's stand on black money stored by Indians in tax havens abroad.

"There is no instant solution to bring back what is called black money. We have got some information and that has been provided to us for use in the collection of taxes," he added.

As per the guidelines of the Organisation of Economic Cooperation and Development (OECD), India has signed independent treaties with a host of countries and territories to share information on illegal transfers, often referred to as black money.

Manmohan Singh's remarks came on a day the Supreme Court voiced displeasure over the government's reluctance in providing full information on the black money stashed by Indians in foreign banks, saying it was a theft of national wealth and amounted to "plunder" of the nation.

BJP president Nitin Gadkari Tuesday had alleged that the government's reluctance to disclose names points the needle of suspicion towards it and dared the Manmohan Singh government to make public the names of Indians who have deposited black money in tax havens.

 

 

 

 

 

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