– India’s ‘black money’ in Switzerland

By Kuldip Nayar

I do not think there is any top civil servant or a leading politician in South Asia without the blemish of having a foreign bank account. But the pressure in India on the Manmohan Singh government to bring back the black money stashed abroad has been relentless. But instead of taking any concrete action, the government seems to be trying its best not to let the gamut of black money come to light. Therefore, it is understandable why it is seeking clarifications on the Indian Supreme Court’s indictment: “The issue of unaccounted monies held by nationals and other legal entities in foreign banks is of primordial importance to the welfare of the citizens.”

It had warned the government not to presume that the money hidden in Switzerland was a result of tax evasion. It could be money that has been laundered after being earned from gun-running, drugs, terrorism, etc. …

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