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What the Modi govt will do to get back black money

June 09, 2014 14:35 IST

What the Modi govt will do to get back black money

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Expressing India's determination to deal with the menace of black money, President Pranab Mukherjee on Monday said the Narendra Modi government will engage with foreign countries to bring back the ill-gotten money stashed abroad.

"My government is determined to rid the country of the scourge of corruption and the menace of black money.

“As a first step in this direction, the government has already constituted a SIT to unearth black money stashed abroad.

"This will be followed up vigorously by proactively engaging with foreign governments," Mukherjee said in his address to Parliament outlining the priorities of the new government.

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Image: A customer counts his cash at the checkout lane of a Walmart store in the Porter Ranch section of Los Angeles.
Photographs: Kevork Djansezian/Reuters

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On its first day in office, the Union Cabinet headed by Prime Minister Narendra Modi constituted a special investigative team to unearth illicit money, including in the case involving Hasan Ali.

Under the chairmanship of M B Shah, SIT had its first meeting on June 2.

The other members of the team comprised of another retired Supreme Court judge Arijit Pasayat as vice-chairman, Revenue Secretary, directors of Central Bureau of Investigation, Intelligence Bureau, Research and Analysis Wing and Enforcement Directorate, the Central Board of Direct Taxes Chairman and an Reserve Bank of India deputy governor.

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Image: A bundle of Syrian pounds and US dollars.
Photographs: Ali Jarekji/Reuters

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The panel has jurisdiction in cases where investigations have commenced, are pending, are waiting to be initiated or have been completed.

Mukherjee in his address also said that the government will provide a clean and efficient administration focussed on delivery.

"The institution of Lok Pal is important to curb corruption and my government will endeavour to formulate rules in conformity with the Act.

“My government will take steps to build the confidence and morale of our bureaucracy; enabling it with the freedom to work, and welcoming innovative ideas," he said.

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Image: Mukherjee in his address also said that the government will provide a clean and efficient administration focussed on delivery.
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The government, Mukherjee said, will endeavour to put in place transparent systems and timebound delivery of government services.

"Government systems and processes will be revisited to make them citizen friendly, corruption free and accountable.

“Efforts will be made to eliminate obsolete laws, regulations, administrative structures and practices," he said.

The President also said that the government will pursue convergence and rationalisation of various ministries.

"Rationalisation and convergence among Ministries, Departments and other arms of the government will be ensured to have focussed delivery.

“Digitisation of government records will be done for improving accessibility," he added.

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Image: US dollars.
Photographs: Lee Jae Won/Reuters
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