During the recent Lok Sabha elections, one of the more interesting campaign issues was that of Indian money stashed away in foreign tax havens like Switzerland. The Bharatiya Janata Party, in particular, talked extensively about this money, forcing the Congress into a promise to address the issue. On Just to Clarify, we examine exactly how India would set about tackling this, how easy it will be, and what its history with such attempts has been in the past.
To talk to us, we have with us R. Vaidyanathan, professor of finance and control and the UTI Chair professor of capital markets at the Indian Institute of Management in Bangalore. Prof. Vaidyanathan has been researching the field of illegal capital flight for over a decade now.