Black money info can't be made public: PM Manmohan singh

[noksss]

Prime Minister Manmohan Singh on Wednesday said there is "no instant solution" to bring back black money stashed in foreign banks and that information with government cannot be made public due to treaty obligations.

"There is no instant solution to bring back what is called black money. We have got some information and that has been provided to us for use in the collection of due taxes," he told reporters at Rashtrapati Bhavan after a rejig of some portfolios and new inductions, the first such exercise in his second term in office.

His comments came close on the heels of the Supreme Court pulling up the government for withholding information on black money stashed in foreign banks, saying it is not just limited to tax evasion but a "mind boggling crime" amounting to "theft" and "plunder" of national wealth having security ramifications.

Noting that he was not aware of what the apex court has said, Singh said "we cannot use the information for any other purposes and that information cannot be made public" as the country cannot violate the obligations under international treaties.

The apex court's observation came while hearing a petition filed by noted criminal lawyer Ram Jethmalani, who along with some retired bureaucrats and police officers, approached it seeking directions to the government to take steps to bring black money to the tune of one trillion dollars stashed in foreign bank back to the country.

The Centre's contention before the court is that it was case of tax evasion and it cannot make public the names of Indian account holders.

link: Black money info can't be made public: PM - The Times of India

 

[Paan Singh]

he must be dissapointed to be an prime minister of this country.i dont know wat he can do and wat he cant?

god bless politics!!

 

[divya]

its good for the country as otherwise if made public there wont be any politician left to run the nation

 

[KS]

How can he when the top two would be Madam ji and Bacha Gandhi. ?

 

[satishkumarcsc]

If it is revealed they will shift it to another tax evading bank....there are 40 banks around the world...Swiss bank is one of them.

And infusing them suddenly into the economy will also have repercussions like sudden increase in valuation of rupee. This might hurt the exporters a lot.

 

[divya]

if people are ready to take me as queen of india once all politicians are doomed we can pressuraize mms to do so

 

[LURKER]

Dont worry wiki leaks will make it public

 

[T90TankGuy]

the reason he cant devulge the names is because of a treaty with germany , who asked us not to devulge the info they gave us . do you guys think that any country will ever enter into treaties and give us info if we break our word?
there are a lot of things that happen behind the sound bytes we see on the TV every day . its easy to critize but much harder to actually do .
what ever we say about our politions i say we are better off with them rather then lets say what other countries have as their leaders.

 

[Nair saab]

I understand his concern..... As the congress has ruled the country for more than 50 years 95% of the politicians named in this list will be from the gr8 congress...

If he discloses the names in list... congress will be left with only 3 politicians one is the PM himself the others are mr.A.K. Antony & mr.Chidambaram...

 

[Capt.Popeye]

if people are ready to take me as queen of india once all politicians are doomed we can pressuraize mms to do so

Pressurise whom? MMS, he is a "sleep-walking" PM. He looked like AM when he entered politics, now he is post-PM.

 

[Capt.Popeye]

Prime Minister Manmohan Singh on Wednesday said there is "no instant solution" to bring back black money stashed in foreign banks and that information with government cannot be made public due to treaty obligations.

"There is no instant solution to bring back what is called black money. We have got some information and that has been provided to us for use in the collection of due taxes," he told reporters at Rashtrapati Bhavan after a rejig of some portfolios and new inductions, the first such exercise in his second term in office.

His comments came close on the heels of the Supreme Court pulling up the government for withholding information on black money stashed in foreign banks, saying it is not just limited to tax evasion but a "mind boggling crime" amounting to "theft" and "plunder" of national wealth having security ramifications.

Noting that he was not aware of what the apex court has said, Singh said "we cannot use the information for any other purposes and that information cannot be made public" as the country cannot violate the obligations under international treaties.

The apex court's observation came while hearing a petition filed by noted criminal lawyer Ram Jethmalani, who along with some retired bureaucrats and police officers, approached it seeking directions to the government to take steps to bring black money to the tune of one trillion dollars stashed in foreign bank back to the country.

The Centre's contention before the court is that it was case of tax evasion and it cannot make public the names of Indian account holders.

link: Black money info can't be made public: PM - The Times of India

That point (underlined) is complete "HUMBUG". The information is obtained from Germany, but does not pertain to German Banks, but Banks in Liechtenstein so it is not covered as a privileged information. Money transactions which are part of "Fiduciary Crimes" e.g. tax evasion, money laundering, financial fraud cannot be covered by any privilege, real or imagined.
Manmohan Singh is determined to go down in history as a a thoroughly honest but incompetent administrator.

 

[Capt.Popeye]

the reason he cant devulge the names is because of a treaty with germany , who asked us not to devulge the info they gave us . do you guys think that any country will ever enter into treaties and give us info if we break our word?
there are a lot of things that happen behind the sound bytes we see on the TV every day . its easy to critize but much harder to actually do .
what ever we say about our politions i say we are better off with them rather then lets say what other countries have as their leaders.

Two questions for you; jbgt90.
1.the information pertains to Banks in Lichtenstein, not Germany- a third country. How did Germany obtain the information?
2.and where on earth did the Germans say that the information cannot be divulged, whose word do we have for it?

About your last statement:
"what ever we say about our politions i say we are better off with them rather then lets say what other countries have as their leaders."
You mean to say that things could have been worse, so we must not try to make things better!

 

[metro]

not at all surprising.
knowing that gandhis have billions of black money in their swiss accounts.
im sure if the list is made public, 10% Sonia Gandhi would top the list, with her kid in the second place.
But i can tell all Indians here, this money will come back to India, and will be used in India's development, maybe not today, but after 4 years for sure. and when it will happen, India's GDP will become 4 times to that of US's GDP within 4-5 years.

 

[Manas]

In the late eighties a German magazine had published a story which named Rajiv Gandhi among the other politician from the 3rd world countries who had stacked money in the swiss banks a/c . It said Gandhi family had 2B$ in those a/c.

 

[noksss]

The greatest puppet award in the world can be given to our PM