Monday, 3 November 2014

Modi Promises To Bring Back Black Money

Prime Minister Narenda Modi vowed to bring back black money, kept illegally in foreign countries such as Switzerland and the Netherlands.

Addressing the nation on the All India Radio, Modi said “For me, it is an article of faith. Every penny of the money of poor people in this country, which has gone out, should return. This is my commitment”.

“There may be differences over the approach and procedures, which is natural in a democracy. But as far as my understanding goes and on the basis of information I have, I can say we are on the right track,” he added.


Modi also noted that exact figures were not available but according to the newspaper, there are so far 627 Indian nationals known to hold black money in HSBC Geneva.

Modi’s address to the public came after criticism that his government has shelved the black money issue.

Earlier, the government declined the Supreme Court’s request for the names of the account holders saying it would hamper the process of bringing the black money back to India. The opposition also accused Modi’s government of going back on its election promise.

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