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Business News/ Politics / Policy/  Opposition corners NDA on black money issue
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Opposition corners NDA on black money issue

Opposition closes ranks, says govt misled people with poll promise of bringing back black money, seeks apology

While the NDA has a comfortable majority in the Lok Sabha, it is in a minority in the Rajya Sabha. Photo: PTIPremium
While the NDA has a comfortable majority in the Lok Sabha, it is in a minority in the Rajya Sabha. Photo: PTI

New Delhi: The opposition on Wednesday served a warning to the government after it united in an attempt to corner the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) on its failure to deliver on the electoral promise of returning black money allegedly hidden abroad.

While the NDA has a comfortable majority in the Lok Sabha, it is in a minority in the Rajya Sabha. In the first session of the 16th Lok Sabha, the opposition had similarly come together to derail the legislative deadline, when it forced the government to refer the legislative amendment relaxing foreign investment limits in insurance to 49% to a select committee.

In the run-up to the general election, the BJP, led by Prime Minister Narendra Modi had made the return of alleged black money deposits in foreign banks a key part of its electoral agenda; it had promised to return the money within 100 days and also disclose the list of offenders, even while it took on the then-incumbent Congress-led United Progressive Alliance (UPA) for being soft.

Responding to the criticism levelled by the opposition, the government on its part stuck to its stand and refused to disclose the list of names of suspected black money holders without evidence but assured Parliament that it was committed and sincere in its efforts and was taking fool-proof steps to not only bring back the money but also punish the guilty.

“Out of the 627 accounts in HSBC, the identity of 427 account holders abroad has been established and 250 of them have admitted to having accounts. The government will pro-actively act against the people with black money and will not rest till the last account is identified. The confidentiality clause of double taxation treaties prevents disclosure of names of foreign account holders till the time the matter is before the court of law," said Arun Jaitley, finance minister, while replying to the debate in Rajya Sabha.

Jaitley said if the government did otherwise, it will only help the account holders. He further explained that disclosing names without evidence could only provide a one-day thrill, but will not help in bringing back black money. “It is not about whether to disclose the names but when and how to disclose the names. The SIT has submitted its first report to the Supreme Court and will submit the second report by 30 November. We are completely committed and sincere to identify the account holder," the finance minister added.

The opposition parties closed ranks and sought an apology from the government for what it claims was misleading the electorate. The opposition parties had previously forced the government to agree to a discussion after demanding it for two consecutive days. Trinamool Congress and Samajwadi Party (SP) members had held protests at the main entrance of Parliament demanding a discussion.

Initiating the black money debate in the Rajya Sabha, deputy leader of the Congress Anand Sharma said the government had misled citizens by failing to get money back.

“What shall the nation make out of the same PM who now says that he doesn’t know the amount of money involved? PM must get out of the earlier mindset which is pre-election, one of agitation and propaganda. The government must get to action and get the money back. We had taken effective steps to trace black money and get names of account holders. We got into agreements with various countries. The information that the government has is thanks to the previous government," he said.

The debate in the Lok Sabha was initiated by Mallikarjun Kharge and will continue on Thursday. “Government had promised to bring back black money in 100 days. BJP had promised that everyone will get 15 lakh. Where is the money? Where is it? The money should be brought back and used for infrastructure development. Country can develop only through growth and infrastructure development and not by instigating people," said Kharge, leader of Congress party in Lok Sabha.

The real threat to the NDA is in the Rajya Sabha. The Congress, with 68 members, together with opposition MPs account for 121 seats, out of the total 245.

At the end of the debate in Rajya Sabha, Congress along with Trinamool Congress, which has 12 MPs, Samajwadi Party’s 15 MPs, Communist Party of India’s one MP and Communist Party of India (Marxist)’s nine members walked out in protest. The SP-led opposition parties have formed a group which includes Janata Dal (United), Janata Dal (Secular) and Indian National Lok Dal (INLD). The five parties have now joined hands with Congress and West Bengal chief minister Mamata Banerjee-led Trinamool Congress.

“During the election campaign, Prime Minister Narendra Modi had said 152 times in his public meetings that he will bring back black money. BJP must now apologize to the people of the country for making promises which the party has not been able to fulfil. The Prime Minister misguided the nation and he must apologize," said Sudip Bandopadhyay, senior leader of Trinamool Congress. ​

The Supreme Court had asked the government to make public the names of account holders in LGT Bank received by it in 2009 from German tax authorities. While the government disclosed the names of 18 entities against which prosecution was launched by the income-tax department, it requested the Supreme Court not to reveal the names of individuals in eight other cases in which the tax department found no proof. “The government has given all details to Supreme Court and special investigation team (SIT). The names will be come out at the time of prosecution. The government is on the right track and guilty will be punished," Jaitley replied.

Political analysts say opposition parties have banded together against the BJP merely because the party had made a poll promise it cannot fulfil.

“Opposition parties have run out of issues. They lack credibility. As a responsible government, BJP must honour its commitment. Opposition parties are justified in questioning the government. They have finally got one issue against the government and all parties have come together," said Bidyut Chakrabarty, a Delhi-based political analyst.

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Published: 27 Nov 2014, 12:20 AM IST
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