Narendra Modi move steps for black money
Black money was a major announcement during the election 2014. Narendra Modi and his party said that they will bring all black money from Swiss bank within 100 days if they are elected. People also say that Narendra Modi told us that if they distributed that black money than each person will receive approximately Rs. 15 lacs in their bank account.
Narendra Modi’s government is in power since May 2014. It’s been more than 100 days but still government is struggling to get back the black money from Swiss bank. People are talking about this on social media and asking for their 15 lacs rupees.
BJP government is in talk with Swiss bank to get the details of the black money. Before few days, HSBC bank gives list of the account holders and balanced amount to Indian government. Switzerland HSBC gives name of 1195 Indians who holds balance of 4 billion USD. $4 billion figure was calculated in year 2006 and 2007 but after that there is another 7 years when India grows lots and this figure will be reached around $10 billion USD.
Finance Minister Arun Jaitley said in their speech during the budget on February 28 that “On black money, a new structure including e-filing and tracking down is our abiding commitment”. Recently, the union cabinet gives approval for the new law through which government will track unaccounted wealth. Using this law Indian government will get success to trace the black money.