Confiscate all black money: Left to govt

Left latest to demand disclosure of black money info after SC, BJP

PTI | January 21, 2011



The Left parties today asked the government to confiscate the black money allegedly stashed in Swiss Bank accounts and make the names of the account-holders public.

"Government should not only obtain full details of these accounts, but also make the names of the account-holders public and bring the money back to the country for investment in social projects," party leader Sitaram Yechury told reporters here.

In a statement, the CPI(M) Politburo said the "laxity" of the UPA Government in unearthing black money stashed in Swiss Bank accounts and other tax havens "has been exposed by the recent observations of the Supreme Court".

It said the "unaccounted and ill-gotten wealth, amassed through tax evasion, money laundering and other illegal means, parked in these Swiss Bank accounts should be directly confiscated by the Union Government from the Swiss Banks.

"These monies should be brought back to India and the details of the account holders must be made public," it said, adding that any delay in undertaking these steps would be unacceptable.

Earlier, CPI General Secretary A B Bardhan had said, "What is the secrecy about black money? Why are they not revealing the names? Why are they keeping them (names) under sealed cover? We want to know who they are".

He had said that those who had kept money stashed in Swiss bank accounts had done so to evade taxes. "They are tax evaders. They have committed a crime. The fund should be confiscated."

The Left parties' demand came after the apex court pulled up the government for witholding information on black money stashed in foreign banks, saying it was not just limited to tax evasion but was a "mind boggling crime" amounting to "theft" and "plunder" of national wealth having security ramifications.

Earlier, a Swiss bank staffer had handed over details of 2,000 secret Swiss bank accounts to whistle-blowing site Wikileaks, claiming the list, contained in two compact discs, included names of about 40 politicians, multinational companies and financial institutions from Asia, Europe and the United States.

Maintaining that the website would publish the list in future, Wikileaks founder Julian Assange said he wanted the world to know the truth about money concealed in offshore accounts, how they evaded taxes and the systems in place to keep this secret.

Comments

 

Other News

Saksham Skill census identifies 22,000 job-ready candidates in one Mumbai ward

A first-of-its-kind AI-enabled skill census conducted in Mumbai`s H-West Ward has identified a potential livelihood pipeline of nearly 22,000 candidates, generated over 32,000 provisional job matches while revealing that 71.2 per cent of surveyed homemakers are willing to join the workforce, according to

GI tags: Scaling traditional wealth into global brands

Geographical Indication (GI) tags have emerged as a powerful tool for protecting India`s cultural heritage, while creating economic opportunities for local communities. By linking products to their place of origin, GI tags preserve traditional knowledge, prevent misuse, and enhance consumer trust. They h

BMC: 207 officials in ACB net, 112 still on duty, 68 retire before justice catches up

There are significant delays in the handling of corruption cases involving officials of the Brihanmumbai Municipal Corporation (BMC), a Right to Information (RTI) response obtained by rights activist Jeetendra Ghadge has revealed. As of 30 April 2026, 207 BMC officials face Anti-Corruption Bureau (A

The transformation trap: Why efficiency is not innovation

Every company is transforming, or so it claims.   There was a time when the word ‘transformation’ carried weight. It signified bold strategic shifts, reinvention of business models, and breakthrough technologies that fundamentally changed how organizations created

The Sardar biography that throws light on our times

Patel: A Life By Rajmohan Gandhi Aleph Books, 568 pages, Rs 1,199   There are many biographi

Climate change, El Niño rewrite Indian monsoon

The month of July exceeded its rainfall target despite forecasts of a below-normal month under a strengthening El Niño. The reason could be that climate change is amplifying monsoon complexity: West Pacific warming, Western Disturbances and evolving ocean conditions increasingly interact with El Ni&

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter