Advani Vows to Bring Back in 100 Days Money Stashed Abroad
Adhering to the issue of Indian black money stashed abroad, Bhartiya Janata Party’s (BJP) prime ministerial candidate LK Advani has promised that the National Democratic Alliance (NDA) would bring back the slush funds within 100 days if voted to power. The funds are estimated at $ 140 billion.
Advani, while addressing media in Mumbai, said the BJP had also constituted a special task force to ascertain the entire gamut of issues of Indian slush funds hidden in foreign banks, including Swiss banks.
“The four-member task force has already submitted its interim report. Not just the Swiss banks, there are around 70 tax havens worldwide which are used to stash slush monies,” Advani informed.
Bringing the findings of the report to light, Advani said an estimated Rs.6.88 lakh crore (Rs.6.88 trillion/$140 billion) is lying abroad.
Stressing that the flight of money from developing to developed countries had caused great damage to nation’s economy and security, Advani called for a national consensus to bring back the money which could contribute to the country’s economy and security.
He said the US administration under President Barack Obama was planning legislation to target tax havens.
