Finance Minister Arun Jaitley has reiterated India’s commitment to become part of an international consortium that had pledged for automatic transfer of information for tax administration purposes.
This will allow easier access to foreign accounts of Indian residents and help the Indian government get back the black money stashed abroad, according to him.
Jaitley was addressing the first meeting of the Parliamentary Consultative Committee attached to the Finance Ministry here on Monday. He said the overall economic situation in the country was looking better and basic parameters of Indian economy are moving in the right direction.
Jaitley said current account deficit will be under control and efforts will be made to keep fiscal deficit also within the prescribed limit.