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New Delhi (IANS): Finance Minister Arun Jaitley Wednesday said the identities of 427 overseas account holders have been established and 250 of them had conceded to holding these accounts. He refuted opposition charges that the government was doing little to get back the illicit money stashed away by Indians abroad. Replying to the debate on black money in the Rajya Sabha, Jaitley said the government wanted to follow the correct procedure in disclosing names. "The issue is not to disclose or not, but how and when to disclose the names," he said. He said this was because since the evidence of black money stashed away by Indians was outside the Indian shores, the government must get evidence first from other countries, using the various treaties that New Delhi entered into with them. "The names will become public," Jaitley assured, when some opposition members demanded that the government reveal the identities of the perpetrators right away, since they were already being talked about in the media. "Disclosure of names, without following the proper procedures, would only benefit the account
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holders," he added. In the Rajya Sabha, Congress leader Anand Sharma said the BJP had "misled" the country by making tall promises. He hit out at Prime Minister Narendra Modi.
that were furnished to the Supreme Court in a sealed envelope, 427 had been identified. Out of that, he added, 250 had admitted to such accounts. He said the first act of the Modi
Jaitley said the government was actively engaging with other countries to widen its scope of operations against black money. He said that as things stood now, the Swiss authorities have been persuaded to at least establish the veracity of any evidence that the Indian government and the special team managed to procure from various sources regarding these accounts. "In the next stage now, we'll start a dialogue for automatic exchange of information. With countries all over the world we're going to have automatic exchange of tax information", he said. The finance minister said that of the 627 names of Indians holding bank accounts overseas,
government was to constitute a Special Investigation Team to probe the black money issue, and that the panel already had these names. Jaitley also reiterated what was told to the apex court by the government. All the 627 accounts in the list are at an HSBC Bank branch in Geneva and the details were secured from the French government. The data was actually stolen by a bank employee, as a result of which the Swiss authorities had declined help in any manner. India has no official estimates of illegal money stashed away overseas, but the unofficial ones range from $466 billion to $1.4 trillion.
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India says Mumbai attack trial in Pakistan going slow Kathmandu/New Delhi (IANS): India Wednesday said the trial of those responsible for the 26/11 terror attack on Mumbai was progressing "very slowly" in Pakistan, as Prime Minister Narendra Modi recalled the 2008 horror at the Saarc summit. Modi, who was in Kathmandu for the Saarc summit, stressed the need to combat "terrorism and trans-national crimes". "Today, as we remember the horror of the terror attack in Mumbai in 2008, we feel the endless pain of lost lives," the prime minister said at the opening of the two-day summit. "Let us work together to fulfil the pledge we have taken to combat terrorism and trans-national crimes," he added. Home Minister Rajnath Singh, meanwhile, said the trial of those responsible for the attack was progressing "very slowly" in Pakistan and should be expedited on a priority basis. "Heartfelt tributes to people who lost their lives in Mumbai terror attack of 2008. The perpetrators of Mumbai attack are yet to be punished," Rajnath Singh said in a tweet. "The trial of those responsible for Mumbai attack is progressing very slowly in Pakistan. The process should be expedited on a priority basis," he said. As many as 166 people were killed in the Nov 26-28 attack, in which 10 gunmen from Pakistan sneaked into India and let loose a reign of terror. India has termed Lashkar-e-Taiba founder Hafiz Saeed as an "evil mastermind" of the attack and demanded early action against him.
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Black money: 250 Indians admit to foreign accounts, more names coming
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