on 18th November, 2015, Wednesday, Indian prime minister Narendra Modi inaugurated the international training program by CBI officers to train Interpol officers on how to identify, investigate and recover black money. The program is a significant step towards recovering the huge amount of black money Indians have stored and continue to deposit in Swiss bank accounts. The PM, however, does not have a clue when this goal can be achieved.
About a year ago, Narendra Modi led Bharatiya Janta Party stormed into Indian Parliament with massive majority in the elections. One of the main talking points of the election was Modi’s promise to bring back all the black money lying in foreign accounts. So much so, he declared that once all the black money was recovered, each Indian citizen would have 15 Lakhs INR in their accounts. After a year, no black money yet in sight. The recent voluntary black money declaration campaign proved to be a major failure as well. The CBI chief mentioned that bringing back all the black money is a “Herculean” task and the PM mentioned that there are numerous legal issues in the way of bringing back the money in India.
the opposing party, Indian National Congress, is of course using this opportunity to call the PM out on his campaign promise. Towards the end of the UPA government, INC themselves started an effort towards recovery of black money but the effort was nipped in the bud due to international laws and policies. Now it is time to see if Modi can weave his magic and deliver on his promise. For the time being, it looks like his horrid days at the helm is likely to continue.
Image Courtesy: PTI