One of the agreements made between India and Switzerland is about giving information on black money stashed in Swiss Banks by Indians. A new law is expected to be passed by the Swiss Parliament for information sharing on black money in Swiss Banks by Indians.Although very late, it is a welcome decision. It was reported earlier that more money have been put by the Indians in Swiss Banks compared to other countries. The neo-liberal policy had given more opportunity for black money and for depositing it in swiss and other foreign banks. Time is important in unearthing black money. If more time is given, these deposits will be transferred to other countries. Once the news spread, the black money holders will shift them to other countries. Since the Government also is half-hearted, you can not expect the exposure early. It may be got delayed.
Will Black Money in Swiss Banks be declared ?
06 Thursday Oct 2011
Posted in Uncategorized