The black money conundrum.

Contemporarily the whole of the nation’s politics is in turmoil. All the political parties are teaming up to make one task successful i.e. to engulf the Bhartiya Janata Party on the topic of the list of Indian account holders in tax havens.

Though BJP talked at length about the issue during the Lok Sabha elections and even condemned the UPA government for not abiding by the Supreme Courts rulings over forming Special Investigation Team (SIT) to probe the matter of black money stashed in foreign accounts.

Though the issue has always been a invigoration source for the opposition parties but this time it was recently mooted up by the Indian Finance Minister Mr. Arun Jaitley who in an interview talked about the government’s plan on fetching back black money. Soon all this turned to a heated debated when all the parties jumped in to contradict the points of Mr. Jaitley and to prove that BJP government has not done much that is ample to bring back black money from foreign nations. After this, the government released names of three people in the media of three businessmen. This further led to exacerbation of the furor. All the parties just plunged into the battleground and started blaming the government of having vested interests in not revealing the name of all the people on the list. The government remained silent on the issue but denied showing any favoritism to any businessman or corporate house.

The next day, Supreme Court too plunged into the matter, reprimanding the government for not giving the list of names to the court. Though the government said that it can lead to restraining of the process of getting more names out, but the supreme courts didn’t listen anything and demanded the list. Eventually the government submitted the list bearing 627 names to the Supreme Court and said that more than half of the people on the list are having illegitimate accounts abroad though many are also having legal accounts, thereby an investigation would be done on the basis of the list given to the court and according to the government the charges would be framed by March next year against the culprits who have stashed money in foreign accounts.

Though the steps which have been taken by the government are stiff and laudable but still more needs to be done in the matter because the black money deposited by Indians in foreign banks is in deluge and therefore the efforts to brink it all back must also be done in plethora.

Jai Hind, Jai Bharat

Jai Ma Bharti