We cannot bring back black money: BJP lawmaker

Tags: News
"We will not be able to bring back black money from Switzerland in our lifetime," a BJP member said in the Lok Sabha today.

Nishikant Dubey, MP from Godda in Jharkhand, made the remark while participating in the debate on Finance Bill.

Dubey, who was the first member from the Treasury benches to speak on the issue, said "we will not be able to bring back black money from Switzerland in our lifetime. We cannot bring it back because people have formed trusts. Citizens of Switzerland are employees who hold the trust.

"When you ask for money and names, you will seek names of Indians. There is no question of asking the name of the trustees. And if we don't then how will we get back black money from Switzerland," he said.

M Thambidurai (AIADMK) said if black money stashed abroad is brought back, then India will not require FDI as it will have enough funds to take forward its projects.

In the run-up to the Lok Sabha elections, Narendra Modi had repeatedly said if the BJP comes to power, the party will bring back black money stashed abroad.

EDITORIAL OF THE DAY

  • Protocols need to be quickly put in place for the success of Digital India

    The government has kicked off Digital India initiative in style. Companies too have queued up in large numbers with bagfuls of money.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Simon J Evenett

Will Germany be able to deliver?

The BRICS aren’t the only countries whose stature has grown ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture