ibnlive » India

Jan 25, 2011 at 09:41am IST

Govt to reveal stand on black money on Jan 25

New Delhi: Finance Minister Pranab Mukherjee to outline the government's gameplan to bring home black money. The illicit deposits stashed away in offshore banks.

This after the government drew flak from the Opposition and the apex court for failing to act on the menace.

Mukherjee is expected to outline the government's strategy to tackle the issue and indicate administrative and legislative steps taken so far by the government to deal with this growing menace.

The apex court had come down heavily on the government asking why it cannot name those who have accounts in banks based in Liechtenstein.

The matter came up before the Supreme Court after noted lawyer Ram Jethmalani sought directions to the Central government to act upon a report that Germany was willing to share details of Indians having accounts.

According to the data provided by the Swiss bank, India has more black money than rest of the world combined.

UK has $390 billion in black money, Russia has $470 Billion dollars and India tops the list with almost $1500 billion.

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