The Hindu Business Line : Govt took action to unearth unaccounted money lying abroad: PM

MUMBAI: Prime Minister Dr Manmohan Singh on Monday said the UPA government swung into action to unearth unaccounted Indian money lying abroad after some instances of such funds in Germany and Switzerland were brought to its notice.

“There have been some instances recently where these things came to our notice with regard to Germany, with regard to Switzerland. I think contact is being established with the relevant authorities to provide necessary information,” he said while address ing a press conference here.

“As far as our comments are concerned, whatever action is necessary to unearth the black money held in India or held abroad, we will take action,” Dr Singh said. He further said there would be flow of information between the tax authorities and the bank ing sector once the G-20 Summit decisions to regulate the tax havens are implemented.

The Prime Minister also dismissed the claims of BJP's prime ministerial candidate Mr L K Advani regarding estimates of black money by describing them as a figment of imagination. The BJP in its election manifesto has said that unaccounted money in overse as banks amount to Rs 25-75 lakh crore, an amount large enough to allocate Rs 4 crore for development of each village in the country. - PTI

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