Black money trail: Can't disclose names, says Finance Minister Pranab Mukherjee.........but why??????

On the back foot over black money, the UPA has turned to its chief trouble-shooter Pranab Mukherjee to explain the government's plan for retrieving billions of dollars stashed in Swiss banks and other European tax havens.

"The government has nothing to hide. Let us understand the issue. No information can be made available unless there is a legal framework," said Pranab Mukherjee.

The government has names of Indian account holders in Liechtenstein's LGT Bank and information given by German banks, but the Finance Minister said the government cannot reveal the names right now because of the secrecy clause.

"One of the conditions is the secrecy. We have given names to Supreme Court in sealed cover," Pranab said.
According to conservative estimates, India has lost 462 billion dollars since Independence.

The government says these are just estimates and that it has formed a committee of experts to give report on the volume of black money.

But the Opposition is far from satisfied.

"Mr Pranab Mukherjee's comment is delightfully vague and conspicuously evasive," BJP spokesperson Ravi Shankar Prasad said.

"USA and certain other European countries have been able to get this information from the Swiss authorities about their nationals holding accounts in Swiss banks," CPM leader Sitaram Yechury said.

Explaining the government's position of retrieving black money was always going to be a difficult task. Finance Minister Pranab Mukherjee might have explained a five-pronged strategy to curb the generation of black money. But the question still remains about whether the government will be able to ever retrieve the black money that is kept in foreign banks. http://www.livehindustan.com/

some useful words by history creator "Nitish Kumar" on black money.

Bihar Chief Minister Nitish Kumar today said Prime Minister Manmohan Singh's "helplessness" to bring back black money stashed away in foreign banks will encourage corruption in the country.

"The helplessness stemming from Prime Minister's language about the Supreme Court's move to bring back black money stashed away in foreign banks will boost the morale of corrupt people," Kumar said addressing a gathering after laying the foundation stone for development projects for Maoist-hit Jehanabad district under a government programme at Sarkaria village.

He said though the Supreme Court had ruled that black money stashed in banks abroad be brought back, the PM's statement shows that it is a difficult task to reveal names of those who have deposited the money or take steps to bring the money back.

Prime Minister Manmohan Singh had said on January 19 that there was "no instant solution" to bring back black money stashed away in foreign banks and that information made available by foreign banks to the government could not be made public due to treaty obligations.

His statement came in response to the Supreme Court's comment that the Government should not withold the names of those who had indulged in "theft" and "plunder" of national wealth by stashing away black money in foreign banks.

Shocking facts revealed by swiss bank.

"Indians r poor but India is not a
poor country".
Says one of the swiss bank directors.
He says tat "280 lac crore" of Indian money is deposited in swiss banks which can be used for 'taxless' budget for 30 yrs.
Can give 60 crore jobs to Indians From any village to Delhi 4 lane roads.
Forevr free power suply to more than 500 social projects.
Evry citizen can get monthly 2000/- for 60 yrs.
No need of World Bank & IMF loan
Think how our money is blocked by politicians.
V have full right agnst corrupt politicians.
Itna forwrd karo ki pura INDIA padhe.
Take this seriously, u can forwrd jokes, then why not this

Their should be some change for the betterment of our country

Amend laws to bring back black money: Naidu

TDP president N Chandrababu Naidu has demanded that the existing diplomatic laws should be amended to bring the back the black money stashed in tax havens.
Objecting to the statement of Prime Minister Manmohan Singh that the laws would not permit the country to bring back the black money to the country, Naidu said: “this was nothing but inefficiency on the part of the Prime Minister. If needed, the diplomatic laws should be amended to bring back the black money. All the countries, which are facing the problem, should collectively wage a war against countries allowing the corrupt politicians to stash their money in tax havens,” Naidu said.
Naidu was addressing a massive dharna organised today at the Indira Park to protest against the spiraling prices of essential commodities.
Naidu alleged that several politicians, who earned huge money through illegal means in the country, parked their money in Swiss and other banks. “The Congress government is shirking its responsibility to bring back the money, as it feared that names of their big leaders will come to light,” Naidu alleged.
He said that ` 73 lakh crore black money belonging to the country was stashed in tax havens. Corruption is the main evil responsible for the price rise, he added.
He said that the prices of essential commodities have increased from 100 per cent to more than 300 per cent in the last six years.
On the petro-price hike, Naidu demanded the Centre to roll back the prices and the state should reduce the VAT. “The state government should reduce the tax on the sale of petroleum products existed in 2004. Set 2004 tax structure as a cut-off date. Do not increase the taxes, whenever petro prices are hiked,” Naidu said.