Kaun Jitega 2019: Center assures strict action against black money hoarders

29 Jun 2018 08:30 PM

Kaun Jitega 2019: Center assures strict action against black money hoarders

Updated 29 Jun 2018 08:30 PM

Finance Minister Piyush Goyal said that an agreement between India and Switzerland will provide them with all data on black money by the end of the next accounting year.
"All the data will be made available to us from February 1, 2018, to the end of this accounting year. So, why to assume this is black money or illegal transactions?" said Goyal on reports that money parked by Indians in Swiss banks rose by 50 per cent in 2017.
A report by a central European nation released data that showed money parked by Indians rose over 50 per cent to 1.01 billion Swiss francs (Rs. 7,000 crores) in 2017.
Goyal further mentioned a report which said 40 per cent of the total amount was deposited under Liberalised Remittance Scheme started by former finance minister P. Chidambaram.

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